{"id":100170,"date":"2016-12-30T07:15:34","date_gmt":"2016-12-30T12:15:34","guid":{"rendered":"http:\/\/countingpips.com\/?p=100170"},"modified":"2016-12-30T07:15:34","modified_gmt":"2016-12-30T12:15:34","slug":"euro-up-to-1-0653-on-the-thin-market","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/12\/euro-up-to-1-0653-on-the-thin-market\/","title":{"rendered":"Euro up to 1.0653 on the thin market"},"content":{"rendered":"
December 30, 2016<\/div>
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By\u00a0Gabriel Ojimadu, Alpari<\/strong><\/p>\n

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Previous:<\/em><\/strong><\/p>\n

On Thursday the euro\/dollar closed up. Trader activeness on the Forex market remains low. Trading robots are doing the work for them. If yesterday the price fluctuations for the euro were less than one figure, then today we\u2019ve already seen the euro rise 166 points against the dollar (to 1.0653) and 115 points against the pound (to 0.8664).<\/p>\n

The head of ANZ currency sales in Tokyo, Shigeki Yoshitoshi said that the euro\u2019s strengthening was down to robot trading. I agree with him because the low market liquidity before the new year means the space between orders can be large. As such, the lack of sell orders and low buy volumes has led to the pair growing to 1.0653. Speculators which were off the market at that time have used the strengthening of the euro to open short positions. At the start of the day after a rally it is a good tactic. The euro\/dollar slid 97 points. \u00a0The correction from the growth was over 70%.<\/p>\n

Market expectations:<\/em><\/strong><\/p>\n

The market is low on liquidity: this may be good for some and bad for others. There is no news behind the fluctuations. Trading at Alpari is finishing at 19:00 EET and will reopen on 2nd<\/sup> January, 2017 at 09:00 EET. In my forecast I\u2019ve gone for a growth in the quotes to 1.0572.<\/p>\n

Day\u2019s News (GMT+3):<\/em><\/strong><\/p>

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