{"id":18875,"date":"2011-01-31T11:30:56","date_gmt":"2011-01-31T16:30:56","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=18875"},"modified":"2011-01-31T11:30:56","modified_gmt":"2011-01-31T16:30:56","slug":"eurusd-reaches-retracement-target","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/31\/eurusd-reaches-retracement-target\/","title":{"rendered":"EUR\/USD Reaches Retracement Target"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong><\/p>\n<p>With textbook precision the EUR\/USD has completed a 61.8% retracement  of the November to January move, but the weekly chart shows a sign of  caution.<\/p>\n<p>Following the 4Q 2010 decline from 1.4280 to 1.3456, the EUR\/USD has climbed as <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/01\/19\/eurusd-looks-to-move-higher\/\">high as 1.3760<\/a>,  a level which coincides with the 61.8% Fibonacci retracement at 1.3744.  Since reaching this key technical barrier, the pair has shown a loss of  momentum with significant selling occurring at this price.<\/p>\n<p>The weekly chart displays a harami cross has formed from the two  previous week\u2019s candlesticks, a potential reversal signal in the recent  uptrend. Support for the pair comes in at last week\u2019s low of 1.3540  followed by 1.3500, as well as the January 17th low of 1.3250.<\/p>\n<p>A breach above the previous week\u2019s high at 1.3750 would be supportive  of the pair with further long term resistance located at the mid  November high of 1.4080, followed by the October high of 1.4280.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" title=\"EURUSD Weekly\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/01\/EURUSD-Weekly1.JPG\" alt=\"EURUSD Weekly\" width=\"595\" height=\"667\" \/><\/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>Following the 4Q 2010 decline from 1.4280 to 1.3456, the EUR\/USD has climbed as high as 1.3760, a level which coincides with the 61.8% Fibonacci retracement at 1.3744. Since reaching this key technical barrier, the pair has shown a loss of momentum with significant selling occurring at this price.<\/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-18875","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18875","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=18875"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/18875\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=18875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=18875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=18875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}