{"id":8354,"date":"2010-04-08T08:35:29","date_gmt":"2010-04-08T12:35:29","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8354"},"modified":"2010-04-08T08:35:29","modified_gmt":"2010-04-08T12:35:29","slug":"forex-technical-analysis-eurusd-time-to-cover-short","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/08\/forex-technical-analysis-eurusd-time-to-cover-short\/","title":{"rendered":"Forex Technical Analysis \u2013 EUR\/USD \u2013 Time to Cover Short"},"content":{"rendered":"<p><strong>By Russell Glaser <\/strong>&#8211; The 4-hour EUR\/USD chart is showing technical signs that the bearish  streak has overextended itself and the price of the pair may rise in the  near term.<\/p>\n<p>Below the Forex Technical Analysis of the  EUR\/USD 4-hour chart shows a strong downtrend with two trend lines, one  long term and a second trend line that is much sharper and spans a  shorter term time frame. The technical analysis shows the pair could see  a short term appreciation.<\/p>\n<p>A bullish cross has formed on the Slow Stochastic Oscillator,  indicating that the pair could rise in the near term.<\/p>\n<p>The 7-day Relative Strength Indicator is currently floating in the  overbought region and appears set to breach the 30 line. This would  indicate a signal to sell.<\/p>\n<p>It appears that the RSI line has formed a reverse head and shoulders  pattern. Therefore, traders may want to wait until the RSI line breaches  the neckline of the head and shoulders pattern before covering their  short positions in preparation for a retracement.<\/p>\n<p>This strategy may pay off for patient traders who can then enter into  the market at a later time with a better price after a retracement.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/EUR_USD_4_HOUR.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/EUR_USD_4_HOUR.JPG\" alt=\"\" width=\"554\" 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; The 4-hour EUR\/USD chart is showing technical signs that the bearish streak has overextended itself and the price of the pair may rise in the near term. Below the Forex Technical Analysis of the EUR\/USD 4-hour chart shows a strong downtrend with two trend lines, one long term and a second &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/08\/forex-technical-analysis-eurusd-time-to-cover-short\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex Technical Analysis \u2013 EUR\/USD \u2013 Time to Cover Short&#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-8354","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8354","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=8354"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8354\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}