{"id":100598,"date":"2017-01-11T07:01:32","date_gmt":"2017-01-11T12:01:32","guid":{"rendered":"http:\/\/countingpips.com\/?p=100598"},"modified":"2017-01-11T07:01:32","modified_gmt":"2017-01-11T12:01:32","slug":"eurusd-euro-ready-to-return-to-1-0610","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/01\/eurusd-euro-ready-to-return-to-1-0610\/","title":{"rendered":"EUR\/USD: euro ready to return to 1.0610"},"content":{"rendered":"
January 11, 2017<\/div>
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By\u00a0Gabriel Ojimadu, Alpari<\/strong><\/p>\n

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

On Tuesday the euro\/dollar closed down. The weakening of the euro against the dollar was caused by a correctional phase for the euro\/pound. The euro pound fell 98 points to 0.8665. The price corrected by 38.2% upwards from 0.8517 to 0.8763. The euro rate fell from a maximum of 1.0627 to 1.0556 (-71 points) against the dollar. In Asia the pair\u2019s fall hastened to 1.0536.<\/p>\n

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

On Wednesday trader attention is on the press conference for the US\u2019 new president. I didn\u2019t want to make a forecast, but a really interesting picture has been forming on the hourly graph. The price could bounce from 1.0536 or 1.0519. I\u2019ve gone for 1.0519. I reckon that before Trump speaks we will see a fall for the euro. Then we may see a test of 1.0610 (at 67 degrees and the trend line) which was broken yesterday.<\/p>\n

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