{"id":114548,"date":"2017-10-11T07:38:11","date_gmt":"2017-10-11T11:38:11","guid":{"rendered":"http:\/\/countingpips.com\/?p=114548"},"modified":"2018-06-01T15:55:39","modified_gmt":"2018-06-01T15:55:39","slug":"eurusd-quotes-expected-to-rise-to-the-157th-degree","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/eurusd-quotes-expected-to-rise-to-the-157th-degree\/","title":{"rendered":"EURUSD: quotes expected to rise to the 157th degree"},"content":{"rendered":"<div id=\"inves-3023375639\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 11, 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 Tuesday the 10<sup>th<\/sup>\u00a0of October, trading on the euro\/dollar pair closed up. The euro rose from 1.1740 to 1.1826 against the greenback. German data, talk of reversing the ECB\u2019s asset purchasing program, a weakening of the US dollar across the market, and a drop in US bond yields all provided support for the single currency.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>14:15 USA: Fed\u2019s Evans speech;<\/li>\n<li>21:00 USA: FOMC minutes;<\/li>\n<li>21:40 USA: FOMC member Williams\u2019 speech;<\/li>\n<li>21:50 Eurozone: ECB\u2019s Praet speech;<\/li>\n<li>23:30 USA: API weekly crude oil stock.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/10\/eur_111017.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD rate on the hourly. Source: TradingView<\/p>\n<p>Yesterday\u2019s predictions came off in full. The technical picture for the next few days looks wonderful. The right shoulder of the head and shoulders model is forming. Here, the euro should strengthen to around 1.1860\/80.<\/p>\n<p>We should note that just as the euro started to rebound, its growth was bolstered by statements from ECB representatives regarding the need to reverse its asset purchasing program next year.<\/p><div id=\"inves-2467809250\" 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>From the low of 1.1699, an upwards C-C channel has formed. This morning\u2019s unsuccessful attempt by sellers to break through its lower boundary led the price to ricochet to 1.1820.<\/p>\n<p>Today, I\u2019m predicting the price to rise to 1.1860; although I\u2019m not sure whether or not this will be the case. First of all, buyers were rebuffed at around the 135<sup>th<\/sup>\u00a0degree. Secondly, the FOMC is publishing the minutes of its latest meeting today and it\u2019s not clear how markets will react. If sellers manage to break through the trend line of the C-C channel and the candlestick closes below 1.1793, my prediction will fail.<\/p>\n<p>To make an informed trading decision today, I recommend keeping an eye on the dynamics of US 10Y bond yields, the US dollar index, and crosses involving the euro. Bond yields are trying to push upwards. The euro is trading up against the franc, pound, yen, and Canadian dollar. It\u2019s trading down against the Aussie dollar. If nothing changes on these fronts, growth on our pair will continue.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: quotes expected to rise to the 157th degree<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Tuesday the 10th\u00a0of October, trading on the euro\/dollar pair closed up. The euro rose from 1.1740 to 1.1826 against the greenback. German data, talk of reversing the ECB\u2019s asset purchasing program, a weakening of the US dollar across the market, and a drop in US bond yields all provided [&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-114548","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114548","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=114548"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114548\/revisions"}],"predecessor-version":[{"id":114549,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114548\/revisions\/114549"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=114548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=114548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=114548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}