{"id":100566,"date":"2017-01-10T07:01:58","date_gmt":"2017-01-10T12:01:58","guid":{"rendered":"http:\/\/countingpips.com\/?p=100566"},"modified":"2017-01-10T07:01:58","modified_gmt":"2017-01-10T12:01:58","slug":"eurusd-expected-return-to-the-lb","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/01\/eurusd-expected-return-to-the-lb\/","title":{"rendered":"EUR\/USD: expected return to the LB"},"content":{"rendered":"
January 10, 2017<\/div>
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By\u00a0Gabriel Ojimadu, Alpari<\/strong><\/p>\n

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

On Monday the euro\/dollar closed up. The price revived from a 1.0511 minimum to 1.0583. The yield for US bonds had a negative effect on the rate, as did the correctional movement after Friday\u2019s strengthening on the back of the NFP (Friday against Monday). It\u2019s also worth noting that there was a growth in the euro\/pound cross which offered support to the euro bulls over the course of the trading day. The pound suffered due to concerns about a hard Brexit.<\/p>\n

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

In Asia the euro\/pound is trading off the chart (above the U3). A serious downward correction of around 85 points to 0.8647 (currently: 0.8732) is near. The correction should start during the European session, but not necessarily. When the rate passes 0.8703, the downward movement will hasten for the euro\/dollar. In accordance with my forecast, I reckon we\u2019ll see a weakening of the euro to 1.0566 dollars. The economic calendar today is bare.<\/p>\n

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