{"id":7116,"date":"2010-02-25T08:59:05","date_gmt":"2010-02-25T13:59:05","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2010\/02\/25\/forex-technical-analysis-%e2%80%93-eurusd-trend-line-%e2%80%93-part-ii\/"},"modified":"2010-02-25T08:59:05","modified_gmt":"2010-02-25T13:59:05","slug":"forex-technical-analysis-eurusd-trend-line-part-ii","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/02\/25\/forex-technical-analysis-eurusd-trend-line-part-ii\/","title":{"rendered":"Forex Technical Analysis \u2013 EUR\/USD Trend Line \u2013 Part II"},"content":{"rendered":"<p><strong>By Russell Glaser <\/strong>&#8211; A continuation of the previous <span style=\"text-decoration: underline;\"><a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/02\/23\/forex-technical-analysis-eurusd-trend-line\/\">Forex Technical Analysis<\/a><\/span> of the EUR\/USD 4-hour chart shows that it may be time to close out those short positions that were opened two days ago.<\/p>\n<p>Traders who were short on the EUR\/USD may want to close those positions at a profit, or at least pair their exposure at this time. The 4-hour chart shows some resistance building, if only in the short term.<\/p>\n<p>Below we have the 4-hour EUR\/USD with a long term trend line that begins on Jan 26th (not shown) and a new short term trend line that begins at yesterday\u2019s price high of 1.3625<\/p>\n<p>1. The Stochastic Slow Oscillator is showing a bullish cross forming below the 30 level. This indicates the potential for an appreciation of the price.<\/p>\n<p>2. The 7-day Relative Strength Indicator briefly dipped below the oversold level and has since moved above this level. This indicates a sell signal.<\/p>\n<p>3.\tThe price reached a significant support line at the price of 1.3956. The pair has since reversed upwards.<\/p>\n<p>4.\tThe next resistance lines for the pair stand at 1.3512, 1.3570. 1.3625.<\/p>\n<p>The pair looks to be making a slight correction in the long term bearish trend. Traders may find a new entry point to go short on the EUR\/USD pair at one of the resistance levels above.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/02\/EUR_USD_4_HOUR1.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/02\/EUR_USD_4_HOUR1.JPG\" alt=\"\" width=\"595\" height=\"571\" \/><\/a><\/p>\n<p><em><strong>Forex Market Analysis<\/strong><\/em> provided by\u00a0<a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\"><strong>Forex Yard.<\/strong><\/a><\/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>By Russell Glaser &#8211; A continuation of the previous Forex Technical Analysis of the EUR\/USD 4-hour chart shows that it may be time to close out those short positions that were opened two days ago. Traders who were short on the EUR\/USD may want to close those positions at a profit, or at least pair &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/02\/25\/forex-technical-analysis-eurusd-trend-line-part-ii\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex Technical Analysis \u2013 EUR\/USD Trend Line \u2013 Part II&#8221;<\/span><\/a><\/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-7116","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7116","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=7116"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7116\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}