{"id":7678,"date":"2010-03-18T09:29:08","date_gmt":"2010-03-18T13:29:08","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7678"},"modified":"2010-03-18T09:29:08","modified_gmt":"2010-03-18T13:29:08","slug":"forex-technical-analysis-eurusd-daily-chart","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/18\/forex-technical-analysis-eurusd-daily-chart\/","title":{"rendered":"Forex Technical Analysis \u2013 EUR\/USD Daily Chart"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; After consolidating just above the 50% retracement level of the  previous uptrend, the EUR\/USD has begun to fall back inline with its  long term downward trend line. A Forex technical analysis indicates  further downward movement in the pair could be possible with a short  term target the S3 support level.<\/p>\n<p>The dollar strengthened this morning  during the early hours of the European trading session and has left the  EUR\/USD in a position to make a larger move lower. The price has dropped  below the S2 level of 1.3667.<\/p>\n<p>The daily chart shows the long term trend line that began in early  December at the height of the previous bullish run. The pair has  maintained this trend line after consolidating for the past 3 weeks,  arriving at the 50% retracement level. Since then the pair has made a  breakout lower.<\/p>\n<p>The 7-day Relative Strength Indicator shows the pair has broken below  the 70 level, indicating a sell signal. We can also see the RSI line  has breached an upward sloping trend line, providing further evidence of  a significant downward move in the price.<\/p>\n<p>Also supporting a price move lower is the downward sloping MACD  histogram. This shows the downward move may be gaining momentum for a  further run lower.<\/p>\n<p>A target for Forex technical analysis traders may be the S3 support  level of 1.3575.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/03\/EUR_USD_DAILY_CHART2.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/03\/EUR_USD_DAILY_CHART2.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; After consolidating just above the 50% retracement level of the previous uptrend, the EUR\/USD has begun to fall back inline with its long term downward trend line. A Forex technical analysis indicates further downward movement in the pair could be possible with a short term target the S3 support level. The &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/03\/18\/forex-technical-analysis-eurusd-daily-chart\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex Technical Analysis \u2013 EUR\/USD Daily Chart&#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-7678","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7678","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=7678"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7678\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}