{"id":107762,"date":"2017-06-20T07:06:28","date_gmt":"2017-06-20T11:06:28","guid":{"rendered":"http:\/\/countingpips.com\/?p=107762"},"modified":"2017-06-20T07:06:28","modified_gmt":"2017-06-20T11:06:28","slug":"eurusd-consolidation-expected","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/06\/eurusd-consolidation-expected\/","title":{"rendered":"EURUSD: consolidation expected"},"content":{"rendered":"<div id=\"inves-3458530857\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 20, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By Gabriel Ojimadu, Alpari<\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p><strong>Previous:<\/strong><\/p>\n<p>On Monday, trading on the Euro closed down. The pair didn\u2019t manage to break 1.1200 level after Emmanuel Macron\u2019s victory at the French parliamentary elections. The economic calendar was fairly empty, so as the dollar rose across the market, the Euro fell against it from 1.1213 to 1.1141 (-72), including during trading in Asia. US 10Y bond yields rose to 2.20%.<\/p>\n<p><strong>Market expectations:<\/strong><\/p>\n<p>There are a lot of speeches today. It\u2019s unclear, though, which of them, if any, will increase volatility on the market. A strong support has formed between 1.1130 and 1.1140. In Asia, the price is correcting. Taking yesterday\u2019s slide into account, as well as the disagreement among indicators on different timeframes, for Tuesday, I\u2019m expecting to see some consolidation.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:00 Germany: PPI (May);<\/li>\n<li>10:30 UK: BoE governor Carney\u2019s speech;<\/li>\n<li>11:00 Euro zone: current account (Apr);<\/li>\n<li>11:45 Switzerland: SNB chairman Jordan\u2019s speech;<\/li>\n<li>14:45 USA: FOMC member Rosengren\u2019s speech;<\/li>\n<li>15:00 USA: FOMC member Fischer\u2019s speech;<\/li>\n<li>15:30 Canada: wholesale sales (Apr);<\/li>\n<li>15:30 USA: current account (Q1);<\/li>\n<li>17:00 Euro zone: ECB governing member Carr\u00e9\u2019s speech;<\/li>\n<li>22:00 USA: FOMC member Kaplan\u2019s speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2017\/06\/eur_200617.png\" alt=\"\" \/><\/p>\n<p align=\"center\">EURUSD rate on the hourly. Source: TradingView.<\/p><div id=\"inves-2022615793\" 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<p>Intraday forecast: low: 1.11421, high: 1.1173, close: 1.1168.<\/p>\n<p>For the prices from the 67<sup>th<\/sup> degree and lower, you need to add 5 pips. Given that the hourly Stochastic indicator is in the sell zone, I first want to see the Euro fall to 1.1102. On the 4-hour timeframe, the Stochastic has crossed upwards. As we can see, the technical picture for the Euro is contradictory. In addition, cyclical analysis points to a recovery for the Euro.<\/p>\n<p>So what have I chosen? Growth to 1.1165\/67 (22<sup>nd<\/sup> degree) -&gt; fall to 1.1141 -&gt; growth to 1.1173 (lb). This is how I currently see things unfolding. This will be better for sellers if the price immediately falls below 1.1132 as trading opens in Europe. Otherwise, bulls may come out to play as the price approaches 1.1173 on the 4-hour timeframe (where the Stochastic is up).<\/p>\n<p>Bears have made a mess of the trend line over the last few days. It\u2019s probably better to watch the market from the sidelines today as the price is as likely to break through the trend line as it is to rebound from it. For the Euro to continue weakening, the price should close today below the lb balance line.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/20157_20062017\/\">EURUSD: consolidation expected<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Monday, trading on the Euro closed down. The pair didn\u2019t manage to break 1.1200 level after Emmanuel Macron\u2019s victory at the French parliamentary elections. The economic calendar was fairly empty, so as the dollar rose across the market, the Euro fell against it from 1.1213 to 1.1141 (-72), including [&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-107762","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107762","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=107762"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107762\/revisions"}],"predecessor-version":[{"id":107763,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107762\/revisions\/107763"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=107762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=107762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=107762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}