{"id":112706,"date":"2017-09-12T06:59:32","date_gmt":"2017-09-12T10:59:32","guid":{"rendered":"http:\/\/countingpips.com\/?p=112706"},"modified":"2017-09-12T06:33:27","modified_gmt":"2017-09-12T10:33:27","slug":"eurusd-unclear-situation-around-the-trend-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/09\/eurusd-unclear-situation-around-the-trend-line\/","title":{"rendered":"EURUSD: unclear situation around the trend line"},"content":{"rendered":"<div id=\"inves-2940699216\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 12, 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 11<sup>th<\/sup>\u00a0of September, the euro\/dollar rate closed down. The US dollar strengthened across the board thanks to a rise in US bond yields. Due to correctional movements and an empty economic calendar, buyers were beaten back to 1.1950. Now let\u2019s look at Tuesday\u2019s technical picture.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>04:30 Australia: NAB business conditions (Aug).<\/li>\n<li>11:30 UK: CPI (Aug), PPI core output (Aug), retail price index (Aug).<\/li>\n<li>13:00 USA: NFIB business optimism index (Aug).<\/li>\n<li>17:00 USA: JOLTS job openings (Jul).<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/09\/eur_120917.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD rate on the hourly. Source: TradingView<\/p>\n<p>My predictions for yesterday were all correct. The euro\/dollar rate slid to the 112<sup>th<\/sup>\u00a0degree at 1.1955. The area from the 112<sup>th<\/sup>\u00a0to 135<sup>th<\/sup>\u00a0degree is a reversal zone. What\u2019s more, the trend line runs through this area, which takes its starting point from the low of 1.1823 set on the 31<sup>st<\/sup>\u00a0of August. The requirements for an upwards correction are all there. This isn\u2019t a key line, however. The main line runs through 1.1900. I was expecting the euro to fall to this level.<\/p>\n<p>The situation is unclear to me. It\u2019s not easy to make a decision here. Cyclical analysis indicates a strengthening of the euro to 1.2000, while the pattern from October 2005 as well as the dynamics of the euro\/pound cross point towards a slide. I went against the cycles and it seems this was a mistake. The euro rate has jumped to 1.1969. The UN has tightened sanctions against North Korea. Investors may once again retreat to the safe havens. In this regard, the situation is fairly simple. Should the price exit the downwards channel, my scenario for a slide won\u2019t play out. Since there isn\u2019t a bullish divergence between the price and the AO indicator, I\u2019m expecting a new low today.<\/p><div id=\"inves-3224500515\" 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<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/21721_12092017\/\">EURUSD: unclear situation around 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 11th\u00a0of September, the euro\/dollar rate closed down. The US dollar strengthened across the board thanks to a rise in US bond yields. Due to correctional movements and an empty economic calendar, buyers were beaten back to 1.1950. Now let\u2019s look at Tuesday\u2019s technical picture. Day\u2019s news (GMT+3): [&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-112706","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112706","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=112706"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112706\/revisions"}],"predecessor-version":[{"id":112707,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/112706\/revisions\/112707"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=112706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=112706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=112706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}