{"id":19878,"date":"2011-03-02T07:35:23","date_gmt":"2011-03-02T12:35:23","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19878"},"modified":"2011-03-02T07:35:23","modified_gmt":"2011-03-02T12:35:23","slug":"technical-signal-eurchf-downtrend-looks-to-continue","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/03\/02\/technical-signal-eurchf-downtrend-looks-to-continue\/","title":{"rendered":"Technical Signal \u2013 EUR\/CHF \u2013 Downtrend Looks to Continue"},"content":{"rendered":"

By Russell Glaser<\/strong><\/p>\n

After a technical retracement the EUR\/CHF should resume its sharp downtrend.<\/p>\n

In early February the EUR\/CHF collapsed at the 200-day moving average <\/a>February\u2019s move took the pair from 1.3200 to 1.2700.<\/p>\n

The EUR\/CHF has since undergone a technical retracement of the February move<\/a>, climbing as high as the 38.2% Fibonacci level from the February downtrend at 1.2900 where the pair ran into resistance and the bearish trend resumed.<\/p>\n

A technical retracement actually reinforces a strong trending environment and signals further moves in the direction of the trend. As such, following a breach of the 1.2700 support level, we may expect the EUR\/CHF to now target the 2010 low at 1.2400.<\/p>\n

Resistance is found at yesterday\u2019s high of 1.2900, followed by 1.2970, and the falling trend line off of the October and February highs which comes in today at 1.3100.<\/p>\n

\"EURCHF\"<\/p>\n

Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em>
\n<\/a><\/strong><\/em><\/p>\n

\u00a9 2006 by FxYard Ltd<\/p>\n

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":"

The EUR\/CHF has since undergone a technical retracement of the February move, climbing as high as the 38.2% Fibonacci level from the February downtrend at 1.2900 where the pair ran into resistance and the bearish trend resumed.<\/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-19878","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19878","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=19878"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19878\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}