{"id":111078,"date":"2017-08-17T09:03:47","date_gmt":"2017-08-17T13:03:47","guid":{"rendered":"http:\/\/countingpips.com\/?p=111078"},"modified":"2017-08-17T07:04:27","modified_gmt":"2017-08-17T11:04:27","slug":"eurusd-forex-technical-analysis-weak-economic-reports-bearish-for-euro","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/08\/eurusd-forex-technical-analysis-weak-economic-reports-bearish-for-euro\/","title":{"rendered":"EURUSD: Forex Technical Analysis &#8211; Weak economic reports bearish for euro"},"content":{"rendered":"<div id=\"inves-1130522715\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 17, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener\">IFCMarkets<\/a><\/p>\n<p><strong>Weak economic reports bearish for euro<\/strong><\/p>\n<p>Expected fall in euro-zone inflation is bearish for euro. Will the <a href=\"https:\/\/www.ifcmarkets.com\/en market-data\/forex-prices\/eurusd\">euro<\/a> continue the decline against the greenback?<\/p>\n<p>Recent data from euro-zone were weaker than expected, weighing on euro. European Union statistics agency reported on Monday industrial production in the euro-zone fell 0.6% in June compared with May, indicating that the region\u2019s economy may be slowing down. And German statistics office Destatis reported the next day Germany\u2019s economy unexpectedly slowed in the second quarter: the GDP expanded 0.6% compared with 0.7% in the first quarter. Weak inflation data are expected to come out today at 11:00 CET: while headline inflation is expected to remain unchanged below ECB\u2019s 2% target rate at 1.3%, consumer prices are expected to decline in July 0.5% compared with the June price index. Today the minutes of the European Central Bank July 20 meeting will be published also after the ECB left its policy unchanged and ECB\u2019s President Mario Draghi emphasized easy monetary policy was still needed as inflation is not where it should be. No surprises are expected. And the news on Wednesday Draghi would not use his Jackson Hole appearance to signal ECB policy change further weighed on euro.<\/p>\n<p style=\"text-align: center; margin-bottom: 20px; margin-top: 20px;\"><img decoding=\"async\" style=\"float: none;\" src=\"https:\/\/www.ifcmarkets.com\/uploads\/images\/EURUSD_27August2017.png\" alt=\"EURUSD\" width=\"660px\" \/><\/p>\n<p class=\"emailSummary\">On the daily timeframe <b> EUR\/USD <\/b> has been trading with negative bias after hitting 32-month high two weeks ago.<\/p>\n<ul class=\"emailSummary\">\n<li>The <b>Donchian channel <\/b> is flat, indicating no trend yet.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/macd\"> MACD indicator <\/a> is above the signal line and the gap is narrowing, which is a bearish signal.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/parabolic\">Parabolic indicator<\/a> gives a sell signal.<\/li>\n<li>The <a href=\"https:\/\/www.ifcmarkets.com\/en\/ntx-indicators\/stochastic\"> stochastic oscillator <\/a> is declining though it has not crossed into the oversold zone.<\/li>\n<\/ul>\n<p>We believe the bearish momentum will continue after the price closes below the lower Donchian boundary at 1.1686, It can be used as an entry point for a pending order to sell. The stop loss can be placed above the last fractal high at 1.1846. After placing the pending order the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the probable profit\/loss ratio to the breakeven point. If the price meets the stop-loss level (1.1846) without reaching the order (1.1686) we recommend cancelling the position: the market sustains internal changes which were not taken into account.<\/p><div id=\"inves-1923538819\" 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<h2 class=\"emailSummary\" style=\"margin-top: 15px !important;\">Technical Analysis Summary<\/h2>\n<table style=\"border: solid 1px black;\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Position<\/b><\/td>\n<td align=\"left\" valign=\"top\">Sell<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Sell stop<\/b><\/td>\n<td align=\"left\" valign=\"top\">Below 1.1686<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" valign=\"top\"><b>Stop loss<\/b><\/td>\n<td align=\"left\" valign=\"top\">Above 1.1846<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Market Analysis provided by <a href=\"http:\/\/www.ifcmarkets.com\/\" target=\"_blank\" rel=\"noopener\">IFCMarkets<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By IFCMarkets Weak economic reports bearish for euro Expected fall in euro-zone inflation is bearish for euro. Will the euro continue the decline against the greenback? Recent data from euro-zone were weaker than expected, weighing on euro. European Union statistics agency reported on Monday industrial production in the euro-zone fell 0.6% in June compared with [&hellip;]<\/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-111078","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111078","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=111078"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111078\/revisions"}],"predecessor-version":[{"id":111106,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111078\/revisions\/111106"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=111078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=111078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=111078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}