{"id":100632,"date":"2017-01-12T06:56:37","date_gmt":"2017-01-12T11:56:37","guid":{"rendered":"http:\/\/countingpips.com\/?p=100632"},"modified":"2017-01-12T06:56:37","modified_gmt":"2017-01-12T11:56:37","slug":"eurusd-possible-update-of-the-maximum-before-a-downward-correction","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/01\/eurusd-possible-update-of-the-maximum-before-a-downward-correction\/","title":{"rendered":"EUR\/USD: Possible update of the maximum before a downward correction"},"content":{"rendered":"
January 12, 2017<\/div>
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By\u00a0Gabriel Ojimadu, Alpari<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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

On Wednesday the euro closed the day up against the dollar, despite the serious fall in the first half of the day. The euro rose 170 points after Trump\u2019s press conference. During the Q and A session with journalists, relations with Russia and the country\u2019s influence on the outcome of the elections dominated. Trump said nothing about his future plans for the economy. What he did say had a positive effect of state bonds, but a fall in their yield had already negatively affected the USD.<\/p>\n

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

During Asian trading the euro is up. The fall in the yield of 10 and 30-year US bonds is still putting pressure on the dollar. The yield for the 10-year bonds has fallen by 1.52% and that of the 30-year has fallen by 1.18%.<\/p>\n

After yesterday\u2019s revival of the price by 170 points, there\u2019s no point waiting for a euro rally on Thursday. A test of 1.0639 is possible, but it\u2019s not 100% that it will take place. Yesterday\u2019s V pattern may help the euro bulls, only it\u2019s not clear how traders will react to the ECB\u2019s minutes from their meeting on monetary policy. These are key for the euro on Thursday. Fed representatives are set to speak during the American session. It\u2019ll be interesting to hear what they have to say after hearing Trump\u2019s words yesterday\/ Maybe it will have an effect on the dollar.<\/p>\n

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

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