{"id":16989,"date":"2010-12-17T09:35:55","date_gmt":"2010-12-17T14:35:55","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=16989"},"modified":"2010-12-17T09:35:55","modified_gmt":"2010-12-17T14:35:55","slug":"eurusd-ascending-to-50-retracement-level-at-1-3500","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/12\/17\/eurusd-ascending-to-50-retracement-level-at-1-3500\/","title":{"rendered":"EUR\/USD Ascending to 50% Retracement Level at 1.3500"},"content":{"rendered":"<p><strong>By Greg Holden<\/strong><\/p>\n<p>The discussions taking place at the <a href=\"http:\/\/www.forexyard.com\/en\/calendar\">EU Summit<\/a> in Brussels has taken an interesting turn. News has been leaked that  the ministers are discussing the possibilities of implementing a <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/12\/17\/german-ifo-business-report-may-boost-euro-today\/\">permanent bailout mechanism<\/a> to help the region avoid future debt crises like those of Greece and Ireland.<\/p>\n<p>The result has been a short-term boost to the EUR against its primary currency rivals.<\/p>\n<p>As we can see from the chart below, the <a href=\"http:\/\/www.forexyard.com\/en\/trading\/eur-usd\">EUR\/USD<\/a> has been range-trading between the 38.2% and 50% Fibonacci levels.<\/p>\n<p>The MACD on the chart below also shows a bullish cross and an  ascending price movement, suggesting bullish pressure is building on the  pair.<\/p>\n<p>With the EU Summit\u2019s leaked discussions, a potentially positive reading from the <a href=\"http:\/\/www.forexyard.com\/en\/calendar\">German Ifo Business<\/a> report today at 9:00 GMT, and the technical indicators shown below, all evidence seems to point to an upward price movement.<\/p>\n<p>Traders may want to keep this in mind today as the week comes to a  close and look to enter long positions on the euro ahead of these  movements.<\/p>\n<p><strong>EUR\/USD \u2013 Daily Chart<\/strong><\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/EURUSD-Daily-Chart.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/EURUSD-Daily-Chart.JPG\" alt=\"\" width=\"590\" height=\"741\" \/><\/a><\/p>\n<p><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><br \/>\n<\/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>The discussions taking place at the EU Summit in Brussels has taken an interesting turn. News has been leaked that the ministers are discussing the possibilities of implementing a permanent bailout mechanism to help the region avoid future debt crises like those of Greece and Ireland.<\/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-16989","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16989","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=16989"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/16989\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=16989"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=16989"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=16989"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}