{"id":108156,"date":"2017-06-27T06:45:00","date_gmt":"2017-06-27T10:45:00","guid":{"rendered":"http:\/\/countingpips.com\/?p=108156"},"modified":"2017-06-27T06:20:55","modified_gmt":"2017-06-27T10:20:55","slug":"eurusd-price-trading-close-to-the-balance-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/06\/eurusd-price-trading-close-to-the-balance-line\/","title":{"rendered":"EURUSD: price trading close to the balance line"},"content":{"rendered":"<div id=\"inves-2496255588\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 27, 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>Trading on the EURUSD pair closed down on Monday. Market volatility was high as US data was being published. The EURUSD pair jumped 39 pips on the news. US 10Y bond yields fell by 1.92% to 2.122%. Durable goods orders in the US were significantly lower than expected.<\/p>\n<p>The index for durable goods orders in May was -1.1% (forecast: -0.5%, previous reading: -0.9%).<\/p>\n<p>The dollar eventually recovered all the losses incurred by this news and closed the day up.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul>\n<li>11:00 Eurozone: ECB president Mario Draghi\u2019s speech;<\/li>\n<li>11:05 USA: FOMC member Williams\u2019 speech;<\/li>\n<li>11:30 Australia: RBA deputy governor Debelle\u2019s speech;<\/li>\n<li>11:30 Eurozone: ECB board member Beno\u00eet C\u0153ur\u00e9\u2019s speech;<\/li>\n<li>12:30 UK: BoE financial stability report;<\/li>\n<li>13:00 UK: BoE governor Mark Carney\u2019s speech;<\/li>\n<li>14:00 Eurozone: ECB board member Peter Praet\u2019s speech;<\/li>\n<li>16:00 USA: S&amp;P\/Case-Shiller home prices index (Apr);<\/li>\n<li>17:00 USA: Richmond Fed manufacturing index (Jun);<\/li>\n<li>18:15 USA: FOMC member Harker\u2019s speech;<\/li>\n<li>20:00 USA: Fed\u2019s Yellen speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/06\/eur_270617.png\" alt=\"\" \/><\/p>\n<p align=\"center\">EURUSD rate on the hourly. Source: TradingView.<\/p><div id=\"inves-1406425794\" 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: n\/a, high: n\/a, close: n\/a.<\/p>\n<p>After the release of US statistics and a jump to 1.1220, the price returned to the balance line at 1.1176. Either the news or statements from central bank representatives should prevent the rate from correcting by 45 degrees. Today is again full of statements from representatives of the major central banks.<\/p>\n<p>I\u2019ve decided not to make a forecast on today\u2019s chart, but I\u2019ve shown a couple patterns on the left that the price could follow on Tuesday. Take a look at the dynamics of the pair from the 13<sup>th<\/sup> and 14<sup>th<\/sup> of June this year. In one case, the price exited upwards, and in the other, downwards. It will depend on external factors.<\/p>\n<p>1.1200\/05 is acting as a resistance on this pattern. Given that Janet Yellen is set to speak today, traders can take a wait-and-see attitude until she speaks. What does this mean for us? It means that we should expect either a flat within a range of 1.1172 \u2013 1.1205 or fluctuations in both directions like on Monday.<\/p>\n<p>Before making any trading decisions today, take a look at the dynamics of US bond yields as well as the EURGBP cross. To buy Euros, the cross should rise and US bonds should fall. For selling Euros, the opposite is true.<\/p>\n<p>The AO indicator is at the zero line, meaning that there is no trend and the indicator has unloaded. The Stochastic oscillator is in the sell zone. When trading opens in Europe, we can expect the rate to return to 1.1178\/70.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/20277_27062017\/\">EURUSD: price trading close to the balance line<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: Trading on the EURUSD pair closed down on Monday. Market volatility was high as US data was being published. The EURUSD pair jumped 39 pips on the news. US 10Y bond yields fell by 1.92% to 2.122%. Durable goods orders in the US were significantly lower than expected. The index [&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-108156","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108156","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=108156"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108156\/revisions"}],"predecessor-version":[{"id":108157,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108156\/revisions\/108157"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=108156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=108156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=108156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}