{"id":22515,"date":"2011-01-24T03:32:42","date_gmt":"2011-01-24T07:32:42","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=12878"},"modified":"2011-01-24T03:32:42","modified_gmt":"2011-01-24T07:32:42","slug":"euro-looks-to-extend-gains","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/01\/24\/euro-looks-to-extend-gains\/","title":{"rendered":"Euro Looks to Extend Gains"},"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 Euro put in an impressive week versus both the dollar and the Swiss franc with both pairs approaching short term targets.<\/p>\n<p><span id=\"more-12878\"><\/span>The <a href=\"http:\/\/www.forexyard.com\/en\/trading\/eur-usd\">EUR\/USD <\/a>has made a close above 1.3500 and now may target the 61.8% Fibonacci retracement level from the November to January move. This level coincides with the resistance level from October at 1.3740.<\/p>\n<p>The <a href=\"http:\/\/www.forexyard.com\/en\/trading\/eur-chf\">EUR\/CHF <\/a>completed a bottom head and shoulders reversal pattern and has reached its estimated target at 1.3030, which coincides with the 50% retracement from the mid-November to January move. The <a href=\"http:\/\/www.forexyard.com\/en\/moving-average\">100-day moving average <\/a>now comes into play which is currently close to the falling trend line off of the November highs at 1.3140.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/en\/calendar\">Today\u2019s Market Events<\/a>:<\/p>\n<p>EUR &#8211; German Flash Manufacturing PMI \u2013 08:30 GMT<br \/>\nExpectations: 61.1. Previous: 60.7<\/p>\n<p>EUR \u2013 Industrial New Orders \u2013 10:30 GMT<br \/>\nExpectations: 2.3%. Previous: 1.4%.<\/p>\n<p>Germany, the engine of EU growth, appears be to coming out of the recession with the Bundesbank increasing its economic forecast, raising 2011 expectations to 2.3% from 1.8%. Euro strength will likely be seen if these two industrial reports come in above market expectations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> The Euro put in an impressive week versus both the dollar and the Swiss franc with both pairs approaching short term targets.<br \/>\nThe EUR\/USD has made a close above 1.3500 and now may target the 61.8% Fibonacci retracement level from the November to Janua&#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-22515","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22515","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=22515"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22515\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=22515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=22515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=22515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}