{"id":110969,"date":"2017-08-15T08:50:23","date_gmt":"2017-08-15T12:50:23","guid":{"rendered":"http:\/\/countingpips.com\/?p=110969"},"modified":"2017-08-15T08:50:23","modified_gmt":"2017-08-15T12:50:23","slug":"eurusd-dollar-attacking-on-all-fronts","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/08\/eurusd-dollar-attacking-on-all-fronts\/","title":{"rendered":"EURUSD: dollar attacking on all fronts"},"content":{"rendered":"<div id=\"inves-773559781\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 15, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By\u00a0Gabriel 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 down on Monday. Sellers almost completely annulled Friday\u2019s gains. The euro fell against the dollar to 1.1770, after which a phase of consolidation began. A growth in US bond yields provided support for the dollar, which was helped by a de-escalation in rhetoric from the US towards North Korea as well as demand for more risky assets. US 10Y bond yield rose to 2.228%.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:00 Germany: GDP (Q2).<\/li>\n<li>10:15 Switzerland: producer and import prices (Jul).<\/li>\n<li>11:30 UK: retail price index (Jul), CPI (Jul), CPI core (Jul), PPI &#8211; input (Jul), PPI \u2013 output (Jul), DGLC house price index (Jul).<\/li>\n<li>15:30 USA: retail sales (Jul), retail sales control group (Jul), NY Empire State manufacturing index (Aug), import price index (Jul).<\/li>\n<li>17:00 USA: business inventories (Jun), NAHB housing market index (Aug).<\/li>\n<li>23:00 USA: total net TIC flows (Jun).<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/08\/eur_150817.png\" alt=\"\" \/><\/p>\n<p align=\"center\">EURUSD rate on the hourly. Source: TradingView<\/p>\n<p>My expectations for the euro on Monday came off in full. Sellers broke through the trend line, pushing buyers back to 1.1770. The 45<sup>th<\/sup>\u00a0degree didn\u2019t hold up. Growth on the euro\/yen cross wasn\u2019t enough for buyers to defend 1.1793.<\/p>\n<p>During trading in Asia, the euro fell to 1.1754. In my forecast today, I\u2019m expecting a drop to 1.1737 followed by a rebound and subsequent growth to 1.1790. The euro is falling because of a sharp rise in US bond yields by 2.55% to 2.25%. As a guide, I\u2019ve chosen the low from the 11<sup>th<\/sup>\u00a0of August of 1.1749. If the rate drops to 1.1737, it will have completely covered Friday\u2019s range.<\/p><div id=\"inves-3847794850\" 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>Still, if the price reaches this level, don\u2019t be in a hurry to buy euros. We need to wait and see how buyers will behave themselves around here, what sort of volume there will be and where the hourly indicators are at this time. It\u2019s difficult to reflect the dynamics of these indicators in a static review, no less explain how they will change with time.<\/p>\n<p>The target for the 112<sup>th<\/sup>\u00a0degree is a t 1.1711. The yen is dropping against the dollar most of all. The situation with North Korea has sort of diffused. Still, I\u2019m surprised to see so many sell their safe haven assets given that Kin Jong Un put his military on standby this morning for an attack on Guam.<\/p>\n<p>US Secretary of Defense James Mattis has said that a strike by North Korea on US soil \u201ccould escalate into war very quickly\u201d. So what\u2019s going to happen?<\/p>\n<p>As I\u2019ve said above, don\u2019t start buying the euro as soon as it hits 1.1737. We should see increased volume as we approach 1.1737 followed by a rebound and a flat for around 15 minutes. If none of this happens, expect a further drop to 1.1711\/20.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/21143_15082017\/\">EURUSD: dollar attacking on all fronts<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Gabriel Ojimadu, Alpari Previous: Trading on the euro\/dollar pair closed down on Monday. Sellers almost completely annulled Friday\u2019s gains. The euro fell against the dollar to 1.1770, after which a phase of consolidation began. A growth in US bond yields provided support for the dollar, which was helped by a de-escalation in rhetoric 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-110969","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/110969","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=110969"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/110969\/revisions"}],"predecessor-version":[{"id":110970,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/110969\/revisions\/110970"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=110969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=110969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=110969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}