{"id":116477,"date":"2017-11-14T07:15:50","date_gmt":"2017-11-14T12:15:50","guid":{"rendered":"http:\/\/countingpips.com\/?p=116477"},"modified":"2018-06-01T15:49:14","modified_gmt":"2018-06-01T15:49:14","slug":"eurusd-long-for-1-1960","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/11\/eurusd-long-for-1-1960\/","title":{"rendered":"EUR\/USD: Long for 1.1960"},"content":{"rendered":"<div id=\"inves-4289514085\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 14, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><b>By <a href=\"https:\/\/growthaces.com\" target=\"_blank\" rel=\"noopener\">GrowthAces.com<\/a><\/b><\/p>\n<p><strong><em>Macroeconomic overview:<\/em><\/strong><\/p>\n<ul>\n<li>The euro rose to a more than two-week high on Tuesday as investors resumed buying risky assets in Europe on growing expectations that economic growth will remain strong against a backdrop of record low interest rates.<\/li>\n<li>Eurostat confirmed that the\u00a0<strong>Eurozone economy advanced 0.6% on quarter in the three months to September of 2017<\/strong>, in line with market expectations and following 0.7% growth in the previous period.<\/li>\n<li><strong>The mood among German investors improved further in November<\/strong>, a survey showed on Tuesday, suggesting that markets expect Europe&#8217;s biggest economy to continue its solid upswing in coming months. The Mannheim-based ZEW research institute said its monthly survey showed its economic sentiment index rose to 18.7 from 17.6 in October. This undershot market consensus forecast for an increase to 20.0. A separate gauge measuring investors&#8217; assessment of the economy&#8217;s current conditions shot up to 88.8 from 87.0 last month. This compared with the market consensus forecast predicting an increase to 88.0.<\/li>\n<li>Also in focus<strong>, European Central Bank chief Mario Draghi, Federal Reserve Chair Janet Yellen, Bank of Japan Governor Haruhiko Kuroda and Bank of England head Mark Carney will form a panel on central bank communication at an ECB-hosted conference in Frankfurt on Tuesday.<\/strong><\/li>\n<\/ul>\n<p><strong><em>Technical analysis and trading signals:<\/em><\/strong><\/p>\n<ul>\n<li>A drop below 50% fibo of June-September rise (1.1605) was not continued. The rejection of the downward move is a bullish signal. The EUR\/USD remains supported above the daily cloud, spanning 1.1654\/1.1633.\u00a0<strong>A break of 21-dma at 1.1685 is encouraging for EUR\/USD bulls. If it closes above this level today, the next target could be Ichi cloud base at 1.1816.<\/strong><\/li>\n<li>Our short position was stopped today and\u00a0<strong>we have switched to long, which is in line with our fundamental view.\u00a0<\/strong>We see also technical arguments for continuation of upward move.<\/li>\n<\/ul>\n<p><strong><img loading=\"lazy\" decoding=\"async\" title=\"\" src=\"https:\/\/growthaces.com\/sites\/default\/files\/eurusd_14112017.png\" alt=\"EURUSD Daily Forex Signals Chart\" width=\"774\" height=\"487\" \/><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><strong>EUR\/GBP supported by lower-than-expected British CPI reading<\/strong><\/p>\n<p><strong><em>Macroeconomic overview:<\/em><\/strong><\/p>\n<ul>\n<li>British inflation held at its highest level in five-and-a-half years in October, and wrong-footed expectations from the Bank of England that it would hit a new peak.<\/li>\n<li><strong>Consumer price inflation held at an annual rate of 3.0% in October<\/strong>, the Office for National Statistics said, below market average expectation for a 3.1% annual rise.<\/li>\n<li>The BoE said this month, after it raised interest rates for the first time in a decade, that inflation would probably peak at 3.2% in October and then fall slowly to just above its 2% target in three years&#8217; time.<\/li>\n<li>Tuesday&#8217;s figures are likely to reinforce doubts about the wisdom of the BoE&#8217;s decision to raise rates at a time when the economy is sluggish, especially as the effect of last year&#8217;s Brexit vote on import prices was already at its high point.<\/li>\n<li>BoE Governor Mark Carney has said the overshoot of the 2% target was due to the effect of the more than 10% fall in the pound after last year&#8217;s Brexit vote pushing up the price of imported goods.<\/li>\n<li>British inflation surged from a subdued 0.5% at the time of the Brexit vote in June 2016 to its highest since April 2012 in September.<\/li>\n<li>The Office for National Statistics said October&#8217;s steady reading reflected falls in fuel prices being offset by a higher cost of food.<\/li>\n<li>The alternative measure of retail price inflation, which is used to calculate payments on government bonds and many commercial contracts, rose to a near six-year high of 4.0% &#8211; bad news for finance minister Philip Hammond as he prepares an annual budget due on November 22.<\/li>\n<li>However, the failure of consumer price inflation to exceed 3% means Carney will be spared a legal duty of having to write a letter to Hammond alongside next month&#8217;s rate decision, explaining why inflation is more than a percentage point above target.<\/li>\n<li><strong>Costs of manufacturers&#8217; raw materials &#8211; much of them imported &#8211; were 4.6% higher than in October 2016, down from an inflation rate of 8.1% in September<\/strong>. The market had expected a fall to 4.8%.<\/li>\n<li>Sterling slipped to its lowest in almost three weeks against the euro on Tuesday, while Britain&#8217;s main FTSE 100 stock index jumped to a session high, after UK inflation data came in slightly weaker than expected.<\/li>\n<\/ul>\n<p><strong><em>Technical analysis and trading signals:<\/em><\/strong><\/p><div id=\"inves-161145944\" 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<ul>\n<li>The EUR\/GBP broke above 55-dma at 0.8920 and the daily cloud base at 0.8928 today.\u00a0<strong>A sustained move into the cloud targets the cloud top at 0.9027.<\/strong>\u00a0Daily slow stochs are near OB territory but the bulls show no sign of letting up just yet.<\/li>\n<li><strong>We have raised our bid to 0.8915.<\/strong><\/li>\n<\/ul>\n<p><strong><img decoding=\"async\" title=\"\" src=\"https:\/\/growthaces.com\/sites\/default\/files\/eurgbp_14112017.png\" alt=\"EURGBP Daily Forex Signals Chart\" \/><\/strong><\/p>\n<p>VIP Traders Club members should expect to receive forex and precious metals trading signals updates at least twice a day. We will send you:<\/p>\n<ol>\n<li>Buy and sell forex, precious metals signals (entry level, target, stop-loss)<\/li>\n<li>Suggested position size that you can easily adjust to your trading account size &#8211; this would help you in risk management and you will survive longer drawdown periods<\/li>\n<li>Early heads-up about the potential trading opportunities or rationale to taken positions ( fundamental analysis, technical analysis )<\/li>\n<li>Forecasts of most important macroeconomic indicators prepared by our economists and econometricians.<\/li>\n<\/ol>\n<p><a href=\"https:\/\/growthaces.com\/articles\/forex-gold-trading-signals-pricing\" target=\"_blank\" rel=\"nofollow noopener\"><strong>JOIN VIP TRADERS CLUB &#8211; TRIAL MONTH FOR $1 NOW<\/strong><\/a><\/p>\n<p><b>About the Author:<\/b><\/p>\n<p>By GrowthAces.com &#8211; <a href=\"https:\/\/growthaces.com\" target=\"_blank\" rel=\"noopener\">Daily Forex Trading Strategies<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By GrowthAces.com Macroeconomic overview: The euro rose to a more than two-week high on Tuesday as investors resumed buying risky assets in Europe on growing expectations that economic growth will remain strong against a backdrop of record low interest rates. Eurostat confirmed that the\u00a0Eurozone economy advanced 0.6% on quarter in the three months to September [&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-116477","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116477","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=116477"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116477\/revisions"}],"predecessor-version":[{"id":116478,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/116477\/revisions\/116478"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=116477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=116477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=116477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}