{"id":108564,"date":"2017-07-06T06:55:06","date_gmt":"2017-07-06T10:55:06","guid":{"rendered":"http:\/\/countingpips.com\/?p=108564"},"modified":"2017-07-06T06:47:07","modified_gmt":"2017-07-06T10:47:07","slug":"eurusd-expecting-a-45-degree-rebound-after-the-slide","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/eurusd-expecting-a-45-degree-rebound-after-the-slide\/","title":{"rendered":"EURUSD: expecting a 45-degree rebound after the slide"},"content":{"rendered":"<div id=\"inves-1368876524\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 6, 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 euro\/dollar pair closed slightly up on Wednesday. The rate fell to 1.1312 during the European session on comments from ECB board member Beno\u00eet C\u0153ur\u00e9. Another contributing factor to the euro\u2019s slide was the collapse in oil prices. This, in turn, weighed down on commodity currencies.<\/p>\n<p>The market got shaken up a bit as the FOMC minutes were published for their June meeting, but the dollar failed to hold on to its gains. By the end of the day, the rate had recovered to 1.1354.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:00 Germany: factory orders (May);<\/li>\n<li>10:15 Switzerland: CPI (Jun);<\/li>\n<li>14:30 Eurozone: ECB monetary policy meeting accounts;<\/li>\n<li>14:30 USA: Challenger job cuts (Jun);<\/li>\n<li>15:15 USA: ADP employment change (Jun);<\/li>\n<li>15:30 Canada: trade balance (May), building permits (May);<\/li>\n<li>15:30 USA: initial jobless claims (26 Jun), trade balance (May);<\/li>\n<li>16:45 USA: Markit services PMI (Jun);<\/li>\n<li>17:00 USA: ISM non-manufacturing PMI (Jun), FOMC member Powell speech;<\/li>\n<li>18:00 USA: EIA crude oil stocks change (30 Jun).<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2017\/07\/eur_060717.png\" alt=\"\" \/><\/p>\n<p align=\"center\">EURUSD rate on the hourly. Source: TradingView.<\/p>\n<p>On Wednesday, after falling to 1.1312, the euro\/dollar ricocheted up to 1.1355. The 112<sup>th<\/sup>\u00a0degree subdued sellers. Up above, the LB balance line is stopping buyers.<\/p><div id=\"inves-678253607\" 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>The market is ready for a fall again. The price has rebounded from the LB. At the time of writing this review, the euro is trading for 1.1339 USD. This morning, I entertained the possibility of the euro falling to 1.1290, but remembering yesterday\u2019s rebound to 1.1335, I changed my mind. It was too big a rebound for there to be a further slide. Now, there\u2019s a chance to create a bullish divergence on the AO indicator and move to 1.1365 (45<sup>th<\/sup>\u00a0degree and trend line). If the price rebounds from the 45<sup>th<\/sup>\u00a0degree and falls to 1.1330 on Friday, we can expect the euro to fall to 1.1280.<\/p>\n<p>Today, I\u2019m expecting a slide to 1.1320, followed by growth to 1.1365. I\u2019m not ruling out a return to 1.1312 and the formation of a double base. A drop to 1.1312 isn\u2019t ideal for sellers because if this forms a reversal model, the price will rise to 1.1390.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/20441_06072017\/\">EURUSD: expecting a 45-degree rebound after the slide<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: Trading on the euro\/dollar pair closed slightly up on Wednesday. The rate fell to 1.1312 during the European session on comments from ECB board member Beno\u00eet C\u0153ur\u00e9. Another contributing factor to the euro\u2019s slide was the collapse in oil prices. This, in turn, weighed down on commodity currencies. The market [&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-108564","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108564","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=108564"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108564\/revisions"}],"predecessor-version":[{"id":108565,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108564\/revisions\/108565"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=108564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=108564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=108564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}