{"id":20949,"date":"2011-05-04T09:35:29","date_gmt":"2011-05-04T13:35:29","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=20949"},"modified":"2011-05-04T09:35:29","modified_gmt":"2011-05-04T13:35:29","slug":"fx-technical-analysis-eurusd-bullish-flag-trade","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/05\/04\/fx-technical-analysis-eurusd-bullish-flag-trade\/","title":{"rendered":"FX Technical Analysis \u2013 EUR\/USD Bullish Flag Trade"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong><\/p>\n<p>The <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/04\/22\/fx-weekly-technical-preview-%E2%80%93-more-upside-potential-for-the-pound\/\">EUR\/USD<\/a> has consolidated its gains over the past week, creating a bullish flag  pattern on the daily chart. Given the Momentum-14 indicator is moving  higher, a breakout to the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/04\/25\/euro-and-pound-rising-on-interest-rate-differentials\/\">upside is expected<\/a>.<\/p>\n<p>The bullish flag pattern has been formed  between the prices of 1.4750 and 1.4900. Before entering long on a  breakout of the bullish flag pattern, traders should wait for  confirmation of the breakout. A move above 1.4910 should suffice. A  protective stop should be placed inside the chart patter below 1.4840.<\/p>\n<p>Judging from the chart pattern, a move following a breakout should  take the pair roughly 400 pips to 1.5300. A take profit level can be  placed near this level below the May and June 2008 lows.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" title=\"EURUSD_Daily\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/05\/EURUSD_Daily.JPG\" alt=\"EURUSD_Daily\" width=\"659\" height=\"571\" \/><\/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>The EUR\/USD has consolidated its gains over the past week, creating a bullish flag pattern on the daily chart. Given the Momentum-14 indicator is moving higher, a breakout to the upside is expected.<\/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-20949","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20949","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=20949"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/20949\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=20949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=20949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=20949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}