{"id":107882,"date":"2017-06-23T07:45:44","date_gmt":"2017-06-23T11:45:44","guid":{"rendered":"http:\/\/countingpips.com\/?p=107882"},"modified":"2017-06-23T07:14:08","modified_gmt":"2017-06-23T11:14:08","slug":"eurusd-euro-has-stalled-around-1-1140","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/06\/eurusd-euro-has-stalled-around-1-1140\/","title":{"rendered":"EURUSD: Euro has stalled around 1.1140"},"content":{"rendered":"<div id=\"inves-1675346943\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 23, 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 Thursday, trading on the EURUSD pair closed down. The Euro fell against the dollar, but it was a reluctant retreat. US 10Y bond yields didn\u2019t manage to consolidate above 2.166% and fell to 2.145%. In the end, the price rebounded from 1.1139 and returned to 1.1155.<\/p>\n<p>Data from the US session:<\/p>\n<ul class=\"list list_type_disc\">\n<li>The index of leading indicators in the US grew by 0.3% in May (forecast: 0.4%, previous reading: 0.2%).<\/li>\n<li>The number of work unemployment benefit claimants in the US rose to 241,000 (forecast: 240,000, previous reading: 238,000).<\/li>\n<li>The retail sales index in Canada grew by 0.8% for the month (forecast: 0.2%, previous reading: 0.5%). The retail sales index ex autos grew by 1.5% (forecast: 0.7%, previous reading: -0.1%).<\/li>\n<\/ul>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>10:30 Germany: Markit services PMI (Jun), Markit manufacturing PMI (Jun);<\/li>\n<li>11:00 Euro zone: Markit services PMI (Jun), Markit manufacturing PMI (Jun);<\/li>\n<li>15:30 Canada: CPI (May), CPI core (May);<\/li>\n<li>16:45 USA: Markit services PMI (Jun), Markit manufacturing PMI (Jun);<\/li>\n<li>17:00 USA: new home sales (May);<\/li>\n<li>18:15 USA: Fed\u2019s Bullard speech;<\/li>\n<li>19:40 USA: FOMC member Mester speech;<\/li>\n<li>20:00 USA: Baker Hughes US oil rig count.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2017\/06\/eur_230617.png\" alt=\"\" \/><\/p>\n<p align=\"center\">EURUSD rate on the hourly. Source: TradingView.<\/p>\n<p>Intraday forecast: low: n\/a, high: n\/a, close: n\/a.<\/p><div id=\"inves-1360048845\" 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>Since trading opened in Asia, the Euro has restored to 1.1165. The Euro appreciated against the greenback as US 10Y bond yields also grew. I believe that this strengthening was brought about by the bump in oil prices.<\/p>\n<p>I\u2019ve shown two potential scenarios on the chart, both of which are relevant at the time of writing. The main EURGBP cross and 10Y bond yields are both in a sideways trend. Oil is on the rise, which is supporting the commodity currencies. If the EURGBP cross opens up and US bond yields open down, the Euro will move towards 1.12.<\/p>\n<p>I think that it\u2019s better to hold off on making any trading decisions today until the London session opens and the Asian session closes.<\/p>\n<p>I think the scenario in which the Euro slides to the 45<sup>th<\/sup> degree at 1.1225 is the most likely outcome. In order for this to happen, we need to see US bond yields and the EURGBP cross grow over the course of the next day. In such a case, the strengthening of commodity currencies on the back of an oil surge won\u2019t be able to stop sellers. Yesterday, they were unable to break out of the lower boundary of the channel. Today, this line runs through 1.1147. The faster this is broken through, the higher the probability of renewing the minimum at 1.1119. If they fail, we can expect a rally for the Euro over the following few days.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/20234_23062017\/\">EURUSD: Euro has stalled around 1.1140<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Thursday, trading on the EURUSD pair closed down. The Euro fell against the dollar, but it was a reluctant retreat. US 10Y bond yields didn\u2019t manage to consolidate above 2.166% and fell to 2.145%. In the end, the price rebounded from 1.1139 and returned to 1.1155. Data from the [&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-107882","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107882","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=107882"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107882\/revisions"}],"predecessor-version":[{"id":107884,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/107882\/revisions\/107884"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=107882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=107882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=107882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}