{"id":17773,"date":"2011-01-07T09:35:50","date_gmt":"2011-01-07T14:35:50","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=17773"},"modified":"2011-01-07T09:35:50","modified_gmt":"2011-01-07T14:35:50","slug":"technical-update-eurusd-breaches-200-day-moving-average","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/07\/technical-update-eurusd-breaches-200-day-moving-average\/","title":{"rendered":"Technical Update \u2013 EUR\/USD Breaches 200-Day Moving Average"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong><\/p>\n<p>Yesterday\u2019s <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/01\/06\/dollar-advances-prior-to-jobs-report\/\">closing price <\/a>for the EUR\/USD had significant technical ramifications.<\/p>\n<p>The EUR\/USD closed below the rising support line from the November and December lows and finished the day well below the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/12\/22\/eurusd-testing-200-day-moving-average\/\">200-day moving average<\/a>.  The selling of the pair was capped at 1.2970, the November 30th low  which is the first support level. A breach below this level would open  the door for further declines, with support coming in at the September  6th high at 1.2920, followed by the 61.8% Fib retracement form the June  to November move at 1.2800.<\/p>\n<p>The rising support line should now turn into a resistance level. This  comes in today at 1.3110. Further resistance is found at the top of the  December to January consolidation pattern at 1.3440.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" title=\"EURUSD\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/01\/EURUSD1.JPG\" alt=\"EURUSD\" width=\"590\" height=\"576\" \/><\/p>\n<p><span style=\"text-decoration: underline;\"><em><strong><a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><\/span><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 EUR\/USD closed below the rising support line from the November and December lows and finished the day well below the 200-day moving average. The selling of the pair was capped at 1.2970, the November 30th<\/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-17773","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17773","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=17773"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17773\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=17773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=17773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=17773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}