{"id":8561,"date":"2010-04-14T09:47:14","date_gmt":"2010-04-14T13:47:14","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=8561"},"modified":"2010-04-14T09:47:14","modified_gmt":"2010-04-14T13:47:14","slug":"forex-technical-analysis-eurusd-double-bottom","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/04\/14\/forex-technical-analysis-eurusd-double-bottom\/","title":{"rendered":"Forex Technical Analysis \u2013 EUR\/USD \u2013 Double Bottom"},"content":{"rendered":"<p><strong>By Russell Glaser<\/strong> &#8211; This week the EUR\/USD broke through a key support level, completing a  double bottom pattern on the daily chart. This will set a new short  term price forecast for the euro.<\/p>\n<p>The EUR\/USD moved as high as 1.3690  following the release of the EU bailout package for Greece. In the  process, the EUR\/USD completed a double bottom reversal pattern.<\/p>\n<p>The two bottoms rest at the lows of March and April, with the top  forming near the downward sloping trend line at a price of 1.3590.<\/p>\n<p>To find the potential appreciation from this price pattern, we will  measure the distance from the two lows to the top of the pattern. This  measures roughly 300 pips. The 1.3900 price level should now serve as  the next price target in the near term.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/EUR_USD_DAILY_CHART2.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/04\/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; This week the EUR\/USD broke through a key support level, completing a double bottom pattern on the daily chart. This will set a new short term price forecast for the euro. The EUR\/USD moved as high as 1.3690 following the release of the EU bailout package for Greece. In the process, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/04\/14\/forex-technical-analysis-eurusd-double-bottom\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex Technical Analysis \u2013 EUR\/USD \u2013 Double Bottom&#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-8561","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8561","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=8561"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/8561\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=8561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=8561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=8561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}