{"id":113969,"date":"2017-10-03T08:15:38","date_gmt":"2017-10-03T12:15:38","guid":{"rendered":"http:\/\/countingpips.com\/?p=113969"},"modified":"2017-10-03T07:06:47","modified_gmt":"2017-10-03T11:06:47","slug":"eurusd-sellers-on-track-to-reach-the-135th-degree","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/eurusd-sellers-on-track-to-reach-the-135th-degree\/","title":{"rendered":"EURUSD: sellers on track to reach the 135th degree"},"content":{"rendered":"<div id=\"inves-3920717498\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 3, 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 2<sup>nd<\/sup>\u00a0of October, trading on the euro\/dollar pair closed down. The euro fell to 1.1730 against the dollar on the fallout from Catalonia\u2019s independence referendum and a general strengthening of the dollar.<\/p>\n<p>A strong ISM manufacturing report as well as increased expectations of a rate hike at the Fed\u2019s December meeting provided support for the dollar. The dollar continued to strengthen in Asia.<\/p>\n<p>US data:<\/p>\n<ul class=\"list list_type_disc\">\n<li>ISM manufacturing index: 60.8 (forecast: 57.8, previous: 58.8).<\/li>\n<li>Construction spending (Aug): 0.5% (forecast: 0.2%, previous: -1.2%).<\/li>\n<\/ul>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>06:30 Australia: RBA interest rate decision.<\/li>\n<li>11:30 UK: PMI construction (Sep).<\/li>\n<li>12:00 Eurozone: PPI (Aug).<\/li>\n<\/ul>\n<p align=\"center\"><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/10\/eur_031017.png\" alt=\"\" \/><\/p>\n<p align=\"center\">EURUSD rate on the hourly. Source: TradingView<\/p><div id=\"inves-3485720900\" 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>On the hourly timeframe, bearish sentiment still prevails. It won\u2019t be easy for euro bulls to reverse the price here given rising political tensions resulting from the Catalonia independence referendum, ambiguous statements from ECB representatives with regards to QE reversal, and increased expectations of a rate hike from the Fed in December.<\/p>\n<p>In Asia, the rate has dropped to 1.1699. Sellers have completely erased the gains seen between the 27<sup>th<\/sup>and 29<sup>th<\/sup>\u00a0of September. Seeing as the hourly indicators are in the buy zone for the euro, I\u2019m expecting a rebound from the 112<sup>th<\/sup>\u00a0degree. It\u2019s not clear whether the price will bounce here because there\u2019s a lot of downwards pressure on the euro and the trend line on the daily timeframe was broken through on the 26<sup>th<\/sup>of September. For now, sellers are keeping on track towards the 1.1650 support. If buyers fail to defend this level, we can start looking towards 1.1330. For Tuesday, my target is 1.1670 at the 135<sup>th<\/sup>\u00a0degree. If the hourly candlestick closes above 1.1735, my scenario for a decline will not play out.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: sellers on track to reach the 135th degree<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Monday the 2nd\u00a0of October, trading on the euro\/dollar pair closed down. The euro fell to 1.1730 against the dollar on the fallout from Catalonia\u2019s independence referendum and a general strengthening of the dollar. A strong ISM manufacturing report as well as increased expectations of a rate hike at the [&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-113969","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113969","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=113969"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113969\/revisions"}],"predecessor-version":[{"id":113970,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/113969\/revisions\/113970"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=113969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=113969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=113969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}