{"id":21542,"date":"2011-06-07T05:38:43","date_gmt":"2011-06-07T09:38:43","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=14557"},"modified":"2011-06-07T05:38:43","modified_gmt":"2011-06-07T09:38:43","slug":"eurusd-potential-short-setup","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/06\/07\/eurusd-potential-short-setup\/","title":{"rendered":"EUR\/USD Potential Short Setup"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/9.jpg\" width=\"120\"  alt=\"printprofile\" \/><\/p>\n<p>The EUR\/USD is moving higher towards its previously broken trend line which could allow for a potential short setup.<\/p>\n<p><span id=\"more-14557\"><\/span>Following the break of the January to May trend line the EUR\/USD is <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/06\/07\/traders-anticipate-bernanke-speech\/\">quickly recovering<\/a> towards the trend line which may now act as a resistance level. Should the EUR\/USD move above the initial support at 1.4750 off the late April\/early May lows, a potential opportunity to short the pair set up at the trend line at rate of approximately 1.4830. A protective stop should be used, whether it is a tight stop that trails the trend line or placed above the May high at 1.4940.<\/p>\n<p>To the downside, support comes in at Monday\u2019s low at 1.4550 followed by Friday\u2019s low of 1.4450. Should a full-fledged reversal occur, additional supports are found at 1.4300 and the May low at 1.3970.<\/p>\n<p>Read more forex trading news on our <a href=\"http:\/\/www.forexyard.com\/blog\/en\/\">forex blog<\/a>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/06\/EURUSD_Daily.jpg\" alt=\"EURUSD_Daily\" title=\"EURUSD_Daily\" width=\"768\" height=\"614\" class=\"alignnone size-full wp-image-14558\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p> The EUR\/USD is moving higher towards its previously broken trend line which could allow for a potential short setup.<br \/>\nFollowing the break of the January to May trend line the EUR\/USD is quickly recovering towards the trend line which may now act as a r&#8230;<\/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-21542","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21542","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=21542"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21542\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=21542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=21542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=21542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}