{"id":111181,"date":"2017-08-18T07:25:30","date_gmt":"2017-08-18T11:25:30","guid":{"rendered":"http:\/\/countingpips.com\/?p=111181"},"modified":"2017-08-18T07:08:30","modified_gmt":"2017-08-18T11:08:30","slug":"eurusd-recovery-to-1-1771","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/08\/eurusd-recovery-to-1-1771\/","title":{"rendered":"EURUSD: recovery to 1.1771"},"content":{"rendered":"<div id=\"inves-733163463\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 18, 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>On Thursday the 17<sup>th<\/sup>\u00a0of August, trading on the euro\/dollar closed down. The daily candlestick closed with a range of 127 pips. The euro survived the ECB\u2019s monetary policy meeting accounts. The price first jumped from 1.1663 to 1.1714. During the US session, the bulls managed to get it back up to 1.1754.<\/p>\n<p>The euro strengthened as the dollar fell across the market in response to Dallas Fed president Robert Kaplan\u2019s speech, in which he said that a weaker dollar is good for the economy. Due to low bond yields, one should be wary of future rate hikes. After hitting 1.1754, the pair entered a phase of consolidation.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:00 Germany: PPI (Jul).<\/li>\n<li>11:00 Eurozone: current account (Jun).<\/li>\n<li>15:30 Canada: CPI (Jul), CPI core (Jun).<\/li>\n<li>17:00 USA: Michigan consumer sentiment index (Aug).<\/li>\n<li>17:15 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_180817.png\" alt=\"\" \/><\/p>\n<p align=\"center\">EURUSD rate on the hourly. Source: TradingView<\/p>\n<p>After a long-legged doji formed on the hourly timeframe, the euro restored to 1.1754. Growth was halted at the 67<sup>th<\/sup>\u00a0degree. Yesterday, after the price ricocheted and trading volume increased, I set a range of 1.1681 \u2013 1.1713 for accumulating long positions. Buyers wasted no time here and the price soon started to rise. Despite this rise, though, these price levels are still relevant for those wishing to purchase euros today.<\/p>\n<p>A complex price model has taken form over the past few days. Predicting the course of the euro has become more difficult. Today, I\u2019m expecting the euro to rise to 1.1771. 1.1713 level will act as a support. The price could fall as far as the 45<sup>th<\/sup>\u00a0degree at 1.17. It would be better if it stayed above 1.1720\/25.<\/p><div id=\"inves-2672464777\" 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 breakout of the trend line on the daily timeframe turned out to be false; the price jumped after the minutes of the ECB\u2019s meeting were published. Now the line needs to undergo a correction towards the low of 1.1663. The Stochastic is in the sell zone, so if the price goes down, we should see an increase in trading volume as buyers try to push back towards 1.1771.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/21216_18082017\/\">EURUSD: recovery to 1.1771<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari On Thursday the 17th\u00a0of August, trading on the euro\/dollar closed down. The daily candlestick closed with a range of 127 pips. The euro survived the ECB\u2019s monetary policy meeting accounts. The price first jumped from 1.1663 to 1.1714. During the US session, the bulls managed to get it back up to [&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-111181","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111181","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=111181"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111181\/revisions"}],"predecessor-version":[{"id":111182,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/111181\/revisions\/111182"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=111181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=111181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=111181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}