{"id":116199,"date":"2017-11-09T07:15:16","date_gmt":"2017-11-09T12:15:16","guid":{"rendered":"http:\/\/countingpips.com\/?p=116199"},"modified":"2018-06-01T15:53:27","modified_gmt":"2018-06-01T15:53:27","slug":"eurusd-increased-risk-of-rising-to-1-1660","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/11\/eurusd-increased-risk-of-rising-to-1-1660\/","title":{"rendered":"EURUSD: increased risk of rising to 1.1660"},"content":{"rendered":"<div id=\"inves-592124105\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 9, 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 Wednesday the 8<sup>th<\/sup>\u00a0of November, trading on the euro\/dollar currency pair closed slightly up. The euro traded against the dollar within a narrow range of 1.1579 to 1.1611 (32 pips). During the US session, sellers tried to break the 1.1580 support, but fell short. The price then restored to 1.1599.<\/p>\n<p>The main reason for the dollar\u2019s decline was the decision to delay cuts to the US corporate tax rate by a year. This led to a partial reduction in the short positions opened by sellers after the breakout of 1.1660 (neckline of the head and shoulders model).<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:45 Switzerland: unemployment rate (Oct).<\/li>\n<li>10:00 Germany: trade balance (Sep), current account (Sep).<\/li>\n<li>12:00 Eurozone: economic bulletin.<\/li>\n<li>13:00 Eurozone: European Commission releases economic growth forecasts.<\/li>\n<li>16:00 UK: NIESR GDP estimate (Oct).<\/li>\n<li>16:30 Canada: new housing price index (Sep).<\/li>\n<li>16:30 USA: initial jobless claims (3 Nov).<\/li>\n<li>16:45 Eurozone: ECB vice president Vitor Constancio speech.<\/li>\n<li>19:30 Switzerland: SNB chairman Jordan speech.<\/li>\n<li>21:00 Germany: German Buba president Weidman speech.<\/li>\n<li>21:20 Eurozone: ECB&#8217;s Lautenschl\u00e4ger Speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/11\/eur_091117.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD rate on the hourly. Source: TradingView<\/p>\n<p>Yesterday\u2019s predictions turned out to be true. The price spent the day trading within a narrow range below the trend line. In the end, we got a bullish surge from 1.1554 and the A-A channel. At the time of writing, the euro is trading at 1.1604. The price is currently at the upper boundary of the A-A channel and the trend line. In whichever direction the price exits the 1.1579 \u2013 1.1600 range, the price will continue in that direction pending further developments.<\/p><div id=\"inves-536424327\" 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>Looking at the current pricing model on the hourly timeframe, I\u2019m inclined to predict a breakout of the trend line with subsequent growth to the 90<sup>th<\/sup>\u00a0degree at 1.1662.<\/p>\n<p>If the 67<sup>th<\/sup>\u00a0degree holds buyers up, the head and shoulders model will still be on the cards. We can forget about this model, however, if the price reaches 1.1660 because some bullish signals are forming on the daily timeframe, which will bring new buyers into play.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: increased risk of rising to 1.1660<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Wednesday the 8th\u00a0of November, trading on the euro\/dollar currency pair closed slightly up. The euro traded against the dollar within a narrow range of 1.1579 to 1.1611 (32 pips). During the US session, sellers tried to break the 1.1580 support, but fell short. The price then restored to 1.1599. [&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-116199","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116199","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=116199"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116199\/revisions"}],"predecessor-version":[{"id":116200,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116199\/revisions\/116200"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=116199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=116199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=116199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}