{"id":19422,"date":"2011-02-14T07:48:16","date_gmt":"2011-02-14T12:48:16","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19422"},"modified":"2011-02-14T07:48:16","modified_gmt":"2011-02-14T12:48:16","slug":"technical-tip-eurusd-breach-of-trend-line-points-to-further-declines","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/14\/technical-tip-eurusd-breach-of-trend-line-points-to-further-declines\/","title":{"rendered":"Technical Tip \u2013 EUR\/USD \u2013 Breach of Trend Line Points to Further Declines"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong><\/p>\n<p>Following a breach of the rising trend line from the January low, the EUR\/USD looks set to retrace its gains from this year.<\/p>\n<p>The 100-day moving average has so far provided support but the failure of the pair to make new highs shows a <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/02\/10\/interest-rate-differentials-drive-eurchf\/\">lack of bids in the market for the euro<\/a>. Falling long term stochasitics on the weekly chart also support a move lower.<\/p>\n<p>Currently the pair is approaching the 38.2% Fib retracement (1.3480)  from the January to February move which coincides with the recent  support range the pair has found between the levels of 1.3480 and  1.3500.<\/p>\n<p>A breach below this level should target the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/02\/04\/fx-weekly-preview\/\">61.8% Fib retracement of at 1.3250<\/a>. This level lines up nicely with the mid-January pivot of 1.3240.<\/p>\n<p>Resistance may be found at the falling trend line off of this year\u2019s  high which comes in today at 1.3660. The high from February 9th at <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/01\/19\/eurusd-looks-to-move-higher\/\">1.3740 <\/a>also stands out as a possible resistance level.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" title=\"EURUSD_Daily\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/02\/EURUSD_Daily1.JPG\" alt=\"EURUSD_Daily\" width=\"596\" height=\"608\" \/><\/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 a breach of the rising trend line from the January low, the EUR\/USD looks set to retrace its gains from this year. The 100-day moving average has so far provided support but the failure of the pair to make new highs shows a lack of bids in the market for the euro. <\/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-19422","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19422","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=19422"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19422\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}