{"id":114841,"date":"2017-10-16T07:10:09","date_gmt":"2017-10-16T11:10:09","guid":{"rendered":"http:\/\/countingpips.com\/?p=114841"},"modified":"2018-06-01T15:55:35","modified_gmt":"2018-06-01T15:55:35","slug":"eurusd-expect-the-price-to-recover-to-the-lb-balance-line-on-monday","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/10\/eurusd-expect-the-price-to-recover-to-the-lb-balance-line-on-monday\/","title":{"rendered":"EURUSD: expect the price to recover to the LB balance line on Monday"},"content":{"rendered":"<div id=\"inves-822797265\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 16, 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 Friday the 13<sup>th<\/sup>\u00a0of October, trading on the euro\/dollar pair closed down. The day\u2019s session turned out quite volatile due to the publication of September\u2019s figures for consumer inflation and retail sales in the US, which came out worse than expected. The euro surged 70 pips on this weak data, but erased all its gains before the end of the day.<\/p>\n<p>The US\u2019s CPI grew by 2.2% in September against a forecast of +2.3%. Retail sales grew by 1.6% on the previous month against a forecast of 1.9%.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>12:00 Eurozone: trade balance (Aug);<\/li>\n<li>13:00 Germany: Buba monthly report;<\/li>\n<li>15:30 USA: NY Empire State manufacturing index (Oct);<\/li>\n<li>15:30 Canada: foreign portfolio investment in Canadian securities (Aug), Canadian portfolio investment in foreign securities (Aug);<\/li>\n<li>17:30 Canada: Bank of Canada business outlook survey;<\/li>\n<li>21:00 Eurozone: ECB\u2019s Lautenschl\u00e4ger speech;<\/li>\n<\/ul>\n<p align=\"center\"><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/10\/eur_161017.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD rate on the hourly. Source: TradingView<\/p>\n<p>On Friday, weak US inflation data prevented sellers from reaching their target level of 1.1796. During the Asian session on Monday, the rate dropped to 1.1798. Sellers have completely recovered their losses. Today, I think that the zone from 1.1793 \u2013 1.1796 will act as a support.<\/p>\n<p>I\u2019d like to stress that news developments are more important than technical signals. Assess the risks and set some protective stop levels accordingly so as not to be caught off guard by any developments. News can cause reversals very quickly, so in the case of insufficient free margin, you won\u2019t be able to recover quickly enough before getting a margin call. If you don\u2019t know what a margin call is, it\u2019s probably best you stay away from the market for now.<\/p>\n<p>Now let\u2019s take a look at today\u2019s forecast. A sideways channel has formed with boundaries 1.1800 and 1.1870. In Asia, the price is currently trading in the lower half of this range. Cycles and technical indicators point towards a price recovery to the LB balance line at 1.1837. I\u2019m forecasting a rise in quotes to the 45<sup>th<\/sup>degree at 1.1852. The smaller the recovery, the stronger the fall will be. If we look at the daily chart, we can see that sellers have 1.1755 in their sights.<\/p>\n<\/div>\n<p><strong>Source:<\/strong>\u00a0<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/22388_16102017\/\" target=\"_blank\" rel=\"noopener\">https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/22388_16102017\/<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Friday the 13th\u00a0of October, trading on the euro\/dollar pair closed down. The day\u2019s session turned out quite volatile due to the publication of September\u2019s figures for consumer inflation and retail sales in the US, which came out worse than expected. The euro surged 70 pips on this weak data, [&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-114841","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114841","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=114841"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114841\/revisions"}],"predecessor-version":[{"id":114842,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/114841\/revisions\/114842"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=114841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=114841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=114841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}