{"id":109797,"date":"2017-07-28T07:02:04","date_gmt":"2017-07-28T11:02:04","guid":{"rendered":"http:\/\/countingpips.com\/?p=109797"},"modified":"2017-07-28T07:02:04","modified_gmt":"2017-07-28T11:02:04","slug":"eurusd-growth-to-67th-degree-likely","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/eurusd-growth-to-67th-degree-likely\/","title":{"rendered":"EURUSD: growth to 67th degree likely"},"content":{"rendered":"<div id=\"inves-515876165\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 28, 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 the 27<sup>th<\/sup>\u00a0of July, the euro\/dollar closed down. A strengthening US dollar came on the back of profit-taking and a growth in US 10Y bond yields. The euro fell from its high of 1.1777 to 1.1650 (-127 pips). After trading closed in Europe, the rate restored to the LB (simple line with a period of 55). Now, let\u2019s see what Friday has in store for us.<\/p>\n<p>US statistics:<\/p>\n<p>Durable goods orders in June grew by 6.5% (forecast: 3.1%, previous reading: -0.1%).<\/p>\n<p>The number of continuing jobless claims for the week ending 22\/07 came to 244,000 (forecast: 241,000, previous reading: 234,000).<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p><div id=\"inves-3495330102\" 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<ul class=\"list list_type_disc\">\n<li>10:00 Switzerland: KOF leading indicator (Jul);<\/li>\n<li>12:00 Eurozone: consumer confidence (Jul), business climate (Jul), industrial confidence (Jul), economic sentiment indicator (Jul);<\/li>\n<li>15:00 Germany: CPI (Jul);<\/li>\n<li>15:30 Canada: GDP (May);<\/li>\n<li>15:30 USA: GDP annualised (Q2), GDP price index (Q2), employment cost index (Q2);<\/li>\n<li>17:00 USA: Michigan consumer sentiment index (Jul);<\/li>\n<li>20:20 USA: FOMC member Kashkari\u2019s speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/07\/eur_280717.png\" alt=\"\" \/><\/p>\n<p align=\"center\">EURUSD rate on the hourly. Source: TradingView<\/p>\n<p>The market has turned away from the US MA line and the 135<sup>th<\/sup>\u00a0degree. From 1.1777, the euro rate corrected by nearly 112 degrees. A slide on the Swiss franc triggered a closing of positions on all its connected currency pairs. Today, the franc continues to surprise in Asia. Without any obvious fundamental catalysts, the dollar\/franc pair has risen by 75 pips, to 0.9721. Including yesterday\u2019s rally, the growth is now into double figures. If there\u2019s no explanation for the franc\u2019s collapse, the Swiss central bank will likely intervene. I was surprised to see the franc weaken on its own in the Asian session.<\/p>\n<p>On Friday, trader attention will be turned towards the publication of GDP data in the US and Canada for the second quarter. Volatility will be high. I haven\u2019t taken these statistics into account in my forecast, because there seems to be a contradictory picture between the euro\/pound cross and euro\/dollar pair. The trend suggests that the euro will return to 1.1704 and will close somewhere around the balance line.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/20842_28072017\/\">EURUSD: growth to 67th degree likely<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Thursday the 27th\u00a0of July, the euro\/dollar closed down. A strengthening US dollar came on the back of profit-taking and a growth in US 10Y bond yields. The euro fell from its high of 1.1777 to 1.1650 (-127 pips). After trading closed in Europe, the rate restored to the LB [&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-109797","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109797","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=109797"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109797\/revisions"}],"predecessor-version":[{"id":109798,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/109797\/revisions\/109798"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=109797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=109797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=109797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}