{"id":111104,"date":"2017-08-17T07:45:46","date_gmt":"2017-08-17T11:45:46","guid":{"rendered":"http:\/\/countingpips.com\/?p=111104"},"modified":"2017-08-17T07:01:45","modified_gmt":"2017-08-17T11:01:45","slug":"eurusd-correction-expected-after-growth-to-1-1816","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/08\/eurusd-correction-expected-after-growth-to-1-1816\/","title":{"rendered":"EURUSD: correction expected after growth to 1.1816"},"content":{"rendered":"<div id=\"inves-2654966674\" 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><strong>By Gabriel Ojimadu, Alpari<\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p><strong>Previous:<\/strong><\/p>\n<p>On Wednesday the 16<sup>th<\/sup>\u00a0of August, trading on the euro closed in the black. The single currency was under intense pressure leading up to the release of the FOMC minutes. It first fell against the dollar after a report from Reuters that ECB president Mario Draghi wasn\u2019t planning any significant monetary policy statement in the speech he\u2019s set to give at the Jackson Hole symposium. Sellers later came into play after the publication of strong UK data.<\/p>\n<p>When the US regulator published the minutes of its latest meeting, the dollar slipped and the euro rose. The minutes reveal that committee members are worried about weak inflation. Because of this, some members supported leaving rates unchanged for the time being until the situation becomes more clear. The euro\/dollar rate ended up rising to 1.1779.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>11:30 Australia: RBA assistant governor Ellis\u2019 speech.<\/li>\n<li>11:30 UK: retail sales (Jul).<\/li>\n<li>12:00 Eurozone: CPI (Jul), CPI core (Jul), trade balance (Jul).<\/li>\n<li>14:30 Eurozone: ECB monetary policy meeting accounts.<\/li>\n<li>15:30 Canada: manufacturing shipments (Jun).<\/li>\n<li>15:30 USA: continuing jobless claims (7 Aug), Philadelphia Fed manufacturing survey (Aug).<\/li>\n<li>16:15 USA: capacity utilisation (Jul).<\/li>\n<li>19:30 USA: FOMC member Kaplan\u2019s speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/08\/eur_170817.png\" alt=\"\" \/><\/p>\n<p align=\"center\">EURUSD rate on the hourly. Source: TradingView<\/p>\n<p>From its low of 1.1681, the euro has shot past the 45<sup>th<\/sup>\u00a0and 67<sup>th<\/sup>\u00a0degrees. Growth stopped around the 90<sup>th<\/sup>degree. After a high of 1.1779, a bearish model has been forming over the last 11 hours. I reckon that the market will hit a new high of 1.1797 and then slip back to 1.1768. The rebound, of course, is not a foregone conclusion. The rate could move without hindrance as far as 1.1816 (112 degrees). In any case, buyers will start profit-taking around the trend line.<\/p><div id=\"inves-3874334385\" 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 price is currently above the LB balance line. For the rally to continue, buyers need to actively defend 1.1745. Eurozone inflation data and the ECB\u2019s monetary policy meeting accounts will act as the main drivers today.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/21194_17082017\/\">EURUSD: correction expected after growth to 1.1816<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Wednesday the 16th\u00a0of August, trading on the euro closed in the black. The single currency was under intense pressure leading up to the release of the FOMC minutes. It first fell against the dollar after a report from Reuters that ECB president Mario Draghi wasn\u2019t planning any significant monetary [&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-111104","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111104","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=111104"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111104\/revisions"}],"predecessor-version":[{"id":111105,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111104\/revisions\/111105"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=111104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=111104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=111104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}