{"id":17197,"date":"2010-12-22T09:15:03","date_gmt":"2010-12-22T14:15:03","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=17197"},"modified":"2010-12-22T09:15:03","modified_gmt":"2010-12-22T14:15:03","slug":"eurusd-testing-200-day-moving-average","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/12\/22\/eurusd-testing-200-day-moving-average\/","title":{"rendered":"EUR\/USD Testing 200-Day Moving Average"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong><\/p>\n<p>The EUR\/USD is under pressure once again with the pair moving closer  to key support levels. A breach below these supports may trigger further  technical selling.<\/p>\n<p>After a <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/12\/02\/selling-euro-strength\/\">short squeeze<\/a> pushed the pair as high as 1.3500, the selling of the pair has resumed with the price action contained inside a <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/12\/10\/eurusd-falling-wedge-pattern\/\">consolidation zone<\/a>.  The consolidation is evident by the weak ADX of 21 and a flat 20-day  simple moving average. While the move lower has not been as active as  the month of May at the height of the Greek debt crisis, the downtrend  is reemerging.<\/p>\n<p>Since late last week the pair has moved lower between the 38% (1.3370) and 50% (1.3080) <a href=\"http:\/\/www.forexyard.com\/en\/50-retracements\">Fibonacci retracement<\/a> levels from the June to November move. A downward sloping line supports  the recent price declines. The 50% retracement is the first key  technical level in the downtrend.<\/p>\n<p>The second technical support rests at the 200-day moving average that  comes in today at 1.3030. This key support is well within reach of  today\u2019s trading. A move below this may trigger further technical  selling.<\/p>\n<p>Once a breach of the moving average has occurred, the next targets  for the pair will be the September 6th high at 1.2920 followed by the  61.8% Fib retracement level at 1.2800.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/EURUSD_Daily1.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/12\/EURUSD_Daily1.JPG\" alt=\"\" width=\"590\" height=\"583\" \/><\/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>After a short squeeze pushed the pair as high as 1.3500, the selling of the pair has resumed with the price action contained insie a consolidation zone. The consolidation is evident by the weak ADX of 21 and a flat 20-day simple moving average.<\/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-17197","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17197","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=17197"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17197\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=17197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=17197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=17197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}