{"id":109166,"date":"2017-07-17T06:20:06","date_gmt":"2017-07-17T10:20:06","guid":{"rendered":"http:\/\/countingpips.com\/?p=109166"},"modified":"2017-07-17T06:21:46","modified_gmt":"2017-07-17T10:21:46","slug":"daily-market-report-eurusd-bulls-seem-exhausted-july-17-2017","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/daily-market-report-eurusd-bulls-seem-exhausted-july-17-2017\/","title":{"rendered":"Daily Market Report \u2013 EUR\/USD bulls seem exhausted July 17, 2017"},"content":{"rendered":"
July 17, 2017<\/div>
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By<\/b> Mexgroup.com<\/a><\/p>\n

EUR\/USD another rejection?<\/strong><\/p>\n

Price touched new highs in the morning, but the bulls failed to keep the rate above the 1.1471 Friday\u2019s high and now is trading in the red. EUR\/USD continues to be trapped within a major resistance area, so maybe will be better to stay away till we\u2019ll have a valid breakout from this range.<\/p>\n

Is moving somehow sideways on the Daily chart, technically is still showing some exhaustion signs, but we still need a confirmation that will turn to the downside again.<\/p>\n

The Euro-zone Final CPI and the Final Core CPI will be released later, remains to see what impact will have. The Final CPI should increase by 1.3% in June, matching the 1.3% growth in\u00a0 the former reading period, while the Final Core CPI may increase by 1.1% in the previous month.<\/p>\n

Price slipped below the 1.1450 level as the dollar index\u00a0 managed to rebound and to recover after the impressive sell-off. USDX remains under massive selling pressure on the short term, has found temporary support at the 95.05 level and now is fighting hard to recover.<\/p>

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Technically, we may still have a Falling Wedge pattern on the USDX if will stay above the 95.00 psychological level.<\/p>\n

\"EURUSD17\"<\/a><\/p>\n

EUR\/USD retested the median line (ML) of the ascending pitchfork and the 1.1466 long term static resistance and now is going down. Technically another leg lower is favored at this moment after the failure to jump above the mentioned resistance levels and after the failure to reach the 1.1488 previous high.<\/p>\n

A bearish opportunity will appear if the Rising Wedge pattern will be confirmed, so we have to wait for a valid breakdown from the potential chart pattern to be sure that we\u2019ll have a large corrective phase.<\/p>\n

EUR\/GBP selling opportunity? <\/strong><\/p>\n

The EUR\/GBP dropped significantly in the previous three days and looks determined to reach fresh new lows in the upcoming period. Has fallen in the seller\u2019s territory, so we may have a selling opportunity these days if will come back higher to retest the broken support level.<\/p>\n

\"EURGBP17\"<\/a><\/p>\n

A sell-off is expected to come after the breakdown below the median line (ml) of the ascending pitchfork, has failed to stay above the 100% Fibonnacci level and above the second warning line (wl2) of the former descending pitchfork.<\/p>\n

We\u2019ll have a perfect selling opportunity if the rate will come back to test and retest the major confluence area formed between the 100% level, ML and the warning line (wl2). The next downside target will be at the lower median line (LML) of the ascending pitchfork.<\/p>\n

EUR\/CHF breakout attempt<\/strong><\/p>\n

\"EURCHF17\"<\/a><\/p>\n

Price is trading in the green on the Daily chart, signalling that the bulls are still in the game, is still bullish after the minor retreat and looks motivated to climb much higher in the upcoming period. Is trading right above the 1.1050 psychological level and is pressuring the upper median line (UML) of the major ascending pitchfork, a valid breakout will confirm a further increase.<\/p>\n

However, another false breakout will send the rate towards the lower median line (lml) of the minor ascending pitchfork.<\/p>\n

Olimpiu Tuns<\/strong><\/p>\n

Market Analyst<\/strong><\/p>\n

Risk Disclaimer:<\/span><\/em><\/p>\n

Trading in general is very risky and is not suited for everyone. There is always a chance of losing some or all of your initial investment\/deposit, so do not invest money you can afford to lose. You are strongly advised to carry out your independent research before making any trading decisions.\u00a0 All the analysis, market reports posted on this site are only educational and do not constitute an investment advice or recommendation to open or close positions on international financial markets. The author is not responsible for any loss of profit or damage which may arise from transactions made based on any information on this web site.<\/span><\/em><\/p>\n

The post Daily Market Report \u2013 EUR\/USD bulls seem exhausted July 17, 2017<\/a> appeared first on mexgroupblog<\/a>.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Mexgroup.com EUR\/USD another rejection? Price touched new highs in the morning, but the bulls failed to keep the rate above the 1.1471 Friday\u2019s high and now is trading in the red. EUR\/USD continues to be trapped within a major resistance area, so maybe will be better to stay away till we\u2019ll have a valid […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-109166","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109166","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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=109166"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109166\/revisions"}],"predecessor-version":[{"id":109177,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109166\/revisions\/109177"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=109166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=109166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=109166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}