{"id":101037,"date":"2017-01-20T07:12:34","date_gmt":"2017-01-20T12:12:34","guid":{"rendered":"http:\/\/countingpips.com\/?p=101037"},"modified":"2017-01-20T07:12:34","modified_gmt":"2017-01-20T12:12:34","slug":"eurusd-expected-correction-to-45-degrees","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/01\/eurusd-expected-correction-to-45-degrees\/","title":{"rendered":"EUR\/USD: expected correction to 45 degrees"},"content":{"rendered":"<div id=\"inves-4166717365\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 20, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By\u00a0Gabriel Ojimadu, Alpari<\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p><strong><em>Previous:<\/em><\/strong><\/p>\n<p>At their January meeting, the ECB left the three rates unchanged: the base reference rate at 0.0%, the rate for deposits at -0.40% and the ECB lending rate at 0.25%. The QE program was also left unchanged at 80 billion euros per month until March of this year and from April to December 2017 this figure will be set at 60 billion euros per month.<\/p>\n<p><strong><em>Market expectations:<\/em><\/strong><\/p>\n<p>The euro rose as part of a technical movement to 1.0677 and then fell to 1.0589 during Draghi\u2019s press conference. The ECB chief noted that the lack of an upward trend for inflation and didn\u2019t write off extending the Bank\u2019s QE program. After Draghi spoke, the price restored to 1.0669.<\/p>\n<p>In Asia the euro rose to 1.0694. The dollar is down on the inauguration day of Trump, although a rise in the yield of US bonds will see the currency strengthen. With such contradictions, it\u2019s worth expecting fluctuations in various directions on the market. There is no important macro data coming out of Europe today, so the euro should fall to 1.0642 from 1.0678, with a subsequent growth to 1.0683.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p><div id=\"inves-3391857537\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<ul class=\"list list_type_disc\">\n<li>10:00, German December producer price index;<\/li>\n<li>12:30, UK December retail sales;<\/li>\n<li>16:30, Canadian December CPI core retail sales and retail sales for November;<\/li>\n<li>17:00, FOMC member Harker to speak;<\/li>\n<li>17:30, Trump to be inaugurated.<\/li>\n<\/ul>\n<p><strong><em>Technical analysis:<\/em><\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2017\/01\/eur_200117.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Euro\/ rate on the hourly. Source: TradingView dollar<\/p>\n<p>Intraday forecast: minimum: 1.0642, maximum 1.0694, close: 1.0683.<\/p>\n<p>During Draghi\u2019s speech on Thursday, the euro dropped by 112 degrees from a maximum of 1.0720 and by 67 degrees from a maximum of 1.0677. At the present moment in time the price has restored by 90 degrees. 67 degrees has been exceeded, meaning that growth could strengthen to 112 degrees as a saw. Now it\u2019s worth being vigilant. Before trade opening in Europe or at opening, we could see a test of 1.0703.<\/p>\n<p>In my forecast I\u2019ve considered a fall in the rate to 45 degrees at 1.0642, with a subsequent revival to 1.0683. With yesterday\u2019s V shape pattern it won\u2019t be easy to continue the growth with no news. We should also keep an eye on the news coming out of the US. Trump opponents will try to disrupt the inauguration.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"http:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/17818_20012017\/\">EUR\/USD: expected correction to 45 degrees<\/a>&#8220;<\/div>\n<\/div>\n<div class=\"s_invisible_yes\"><\/div>\n<div class=\"s_invisible_yes\"><\/div>\n<div class=\"s_invisible_yes\"><\/div>\n<div class=\"s_invisible_yes\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Gabriel Ojimadu, Alpari Previous: At their January meeting, the ECB left the three rates unchanged: the base reference rate at 0.0%, the rate for deposits at -0.40% and the ECB lending rate at 0.25%. The QE program was also left unchanged at 80 billion euros per month until March of this year and from April [&hellip;]<\/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-101037","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/101037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=101037"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/101037\/revisions"}],"predecessor-version":[{"id":101038,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/101037\/revisions\/101038"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=101037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=101037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=101037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}