{"id":15494,"date":"2010-11-17T10:15:08","date_gmt":"2010-11-17T15:15:08","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=15494"},"modified":"2010-11-17T10:15:08","modified_gmt":"2010-11-17T15:15:08","slug":"eurusd-where-does-the-pair-go-from-here","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/11\/17\/eurusd-where-does-the-pair-go-from-here\/","title":{"rendered":"EUR\/USD \u2013 Where Does the Pair Go from here"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; Looking at the daily chart a few major Fibonacci numbers stand out and may provide the next target for the EUR\/USD.<\/p>\n<p>Following a breach below the rising  support line off of the October lows, the EUR\/USD switched from a  consolidation phase and into a new <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/11\/16\/forex-dollar-rises-on-european-woes\/\">downtrend<\/a>.<\/p>\n<p>From <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/10\/08\/eurusd-%e2%80%93-technical-update\/\">September to November<\/a> the EUR\/USD made a strong bullish move from the level of 1.2643 to a  height of 1.4281. A Fibonacci retracement shows the pair has already  used both the 38.2% level as a resistance and the 50% retracement level  as a support. Judging from this price behavior it is reasonable to  assume that the pair will continue lower to the 61.8% retracement level  which lies at a price of 1.3270.<\/p>\n<p>The August high of <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/11\/15\/ireland%e2%80%99s-resistance-to-bailout-pushing-eurusd-towards-1-3500\/\">1.3330 <\/a>should stand out as a significant support level on the way as well as the rising trend line from the June and September lows.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/11\/EURUSD-Daily.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/11\/EURUSD-Daily.JPG\" alt=\"\" width=\"590\" height=\"578\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                                                                                                       may         not       be                   suitable         for            all                                   investors.                    There             is     a                                                             possibility                      that                               you                  could                          sustain  a           loss                of      all              of               your                                                     investment        and                                            therefore       you                                     should         not                           invest                            money         that             you                                      cannot                     afford   to                               lose.        You                                  should            be                  aware            of                        all               the              risks                                            associated                 with                      Foreign                              Exchange                                   trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From September to November the EUR\/USD made a strong bullish move from the level of 1.2643 to a height of 1.4281. A Fibonacci retracement shows the pair has already used both the 38.2% level as a resistance and the 50% retracement level as a support. Judging from this price behavior<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-15494","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=15494"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15494\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=15494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=15494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=15494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}