{"id":112246,"date":"2017-09-05T07:40:11","date_gmt":"2017-09-05T11:40:11","guid":{"rendered":"http:\/\/countingpips.com\/?p=112246"},"modified":"2017-09-05T07:07:59","modified_gmt":"2017-09-05T11:07:59","slug":"eurusd-euro-expected-to-fall-to-the-trend-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/eurusd-euro-expected-to-fall-to-the-trend-line\/","title":{"rendered":"EURUSD: euro expected to fall to the trend line"},"content":{"rendered":"<div id=\"inves-3038717019\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 5, 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 Monday the 4<sup>th<\/sup>\u00a0of September, trading on the euro\/dollar pair closed up. The rate went up as the dollar fell in the aftermath of North Korea\u2019s nuclear bomb test. Since the US and Canada both celebrated Labor Day yesterday, banks and exchanges in these countries were all closed and so activity was low on the currency market in the second half of the day. During the US session, the euro\/dollar rate stabilised around the 1.1900 mark.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>10:15 Switzerland: CPI (Aug).<\/li>\n<li>10:55 Germany: Markit services PMI (Aug).<\/li>\n<li>11:00 Eurozone: Markit services PMI (Aug).<\/li>\n<li>11:30 UK: Markit services PMI (Aug).<\/li>\n<li>12:00 Eurozone: retail sales (Jul).<\/li>\n<li>12:10 Australia: RBA governor Philip Lowe\u2019s speech.<\/li>\n<li>15:00 USA: FOMC member Brainard\u2019s speech.<\/li>\n<li>17:00 USA: factory orders (Jul), IBD\/TIPP economic optimism (Sep).<\/li>\n<li>20:10 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\/09\/eur_050917.png\" alt=\"\" \/><\/p>\n<p align=\"center\">EURUSD rate on the hourly. Source: TradingView<\/p>\n<p>In Monday\u2019s forecast, I predicted the price to trade within a corridor of 1.1860 to 1.1920. The euro actually hit 1.1922 before falling to 1.1889. Because of the national holiday in the US and Canada, sellers were unable to reach the lower target.<\/p>\n<p>At the time of writing this review, the euro is trading at 1.1905. Trader attention this week will be focused on the meetings to be held at the ECB and Bank of Canada. Canada\u2019s central bank may raise interest rates. In Europe, traders are hoping to get a clearer picture of the ECB\u2019s QE program.<\/p><div id=\"inves-3555024676\" 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 North Korea situation is still unclear. New sanctions have yet to be fully prepared, while North Korea is getting ready for further tests. The yen, the franc, and gold, as safe haven assets, continue to enjoy high demand from investors.<\/p>\n<p>In my forecast today, I\u2019m predicting a slide for the euro down to the trend line at 1.1875. I think that pressure on the euro on the euro\/pound cross will remain until the 7<sup>th<\/sup>\u00a0of September. Since I\u2019m not sure how American investors will react to North Korea\u2019s nuclear test, my forecast only goes as far as the start of the US session.<\/p>\n<p>There\u2019s a resistance at 1.1925. Keep an eye on the dynamics of the yen, franc, gold, and European stock indices. If the safe havens rise while stocks fall, don\u2019t sell your euros. The euro is a funding currency, so upon the sale of American and European stocks, it will rise against the dollar, regardless of the upcoming ECB meeting.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/21565_05092017\/\">EURUSD: euro expected to fall to the trend line<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Monday the 4th\u00a0of September, trading on the euro\/dollar pair closed up. The rate went up as the dollar fell in the aftermath of North Korea\u2019s nuclear bomb test. Since the US and Canada both celebrated Labor Day yesterday, banks and exchanges in these countries were all closed and so [&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-112246","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112246","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=112246"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112246\/revisions"}],"predecessor-version":[{"id":112247,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112246\/revisions\/112247"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=112246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=112246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=112246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}