{"id":7955,"date":"2010-03-25T08:25:07","date_gmt":"2010-03-25T12:25:07","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=7955"},"modified":"2010-03-25T08:25:07","modified_gmt":"2010-03-25T12:25:07","slug":"forex-technical-analysis-eurusd-rsi-reversal","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/03\/25\/forex-technical-analysis-eurusd-rsi-reversal\/","title":{"rendered":"Forex Technical Analysis \u2013 EUR\/USD \u2013 RSI Reversal"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; A sign that the bearish streak of the EUR\/USD may begin to slow is  appearing on the daily chart from the Relative Strength Index.<\/p>\n<p>Below the Forex Technical Analysis shows  the daily chart using the 10-day RSI. The RSI can be used to show a  shift in the direction of the price trend. The 10 day setting is used as  it takes into account 2 full weeks of trading data (5 days in a trading  week).<\/p>\n<p>By drawing a trend line underneath the rising RSI line, we can see  that a break of the rising RSI line provided a good signal for previous  price breakout that occurred on March 17th. By drawing a tend line above  the downward sloping RSI line, we can see a possible end to the  downward sloping price trend as the trend line on the RSI is on the  verge of being broken.<\/p>\n<p>While a break of the trend line may not present a signal to buy as  when the RSI breaks above the 30 line (as the RSI is typically used)  this can be a signal to close any short positions and take profits.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/03\/EUR_USD_DAILY_CHART3.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/03\/EUR_USD_DAILY_CHART3.JPG\" alt=\"\" width=\"593\" 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 sign that the bearish streak of the EUR\/USD may begin to slow is appearing on the daily chart from the Relative Strength Index. Below the Forex Technical Analysis shows the daily chart using the 10-day RSI. The RSI can be used to show a shift in the direction of the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/03\/25\/forex-technical-analysis-eurusd-rsi-reversal\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex Technical Analysis \u2013 EUR\/USD \u2013 RSI Reversal&#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-7955","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7955","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=7955"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/7955\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=7955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=7955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=7955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}