{"id":107267,"date":"2017-06-12T07:35:23","date_gmt":"2017-06-12T11:35:23","guid":{"rendered":"http:\/\/countingpips.com\/?p=107267"},"modified":"2017-06-12T07:30:20","modified_gmt":"2017-06-12T11:30:20","slug":"eurusd-euro-trading-at-the-balance-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/06\/eurusd-euro-trading-at-the-balance-line\/","title":{"rendered":"EURUSD: Euro trading at the balance line"},"content":{"rendered":"
June 12, 2017<\/div>
\r\n<\/div><\/div>

By Gabriel Ojimadu, Alpari<\/strong><\/p>\n

\n

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

On Friday, the Euro was down at the end of the trading session. The Euro fell against the dollar to 1.1166 during trading in New York. After the news that Theresa May had agreed to a “supply and confidence” arrangement with the Democratic Unionist Party of Northern Ireland, as well as a slide in US bond yields, our pair restored to 1.1204.<\/p>\n

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

The Euro has started the week with an attempt to consolidate above 1.12. At the time of writing this review, the Euro was trading at 1.1208. The fight is taking place around the lb balance line. I’d like to note that in Asia, the Euro has been rising along with US bond yields. US 10Y bond yields have risen by 0.7% to 2.219%. If US bonds grow any further, the Euro will not be able to follow suit.<\/p>\n

I’m allowing for a strengthening of the Euro up to 1.1225, but I’m expecting the session to close down. If the price immediately rebounds as trading gets underway in Europe, then we could see the rate fall as far as 1.1176. The calendar is empty, so I don’t see Friday’s minimum being updated.<\/p>\n

Day’s news (GMT+3):<\/strong><\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t 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>

\r\n
\r\n
\r\n

<\/a>\r\n\t 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>

\r\n<\/div>\r\n

\r\n
<\/div>\n