{"id":117395,"date":"2017-11-30T07:40:16","date_gmt":"2017-11-30T12:40:16","guid":{"rendered":"http:\/\/countingpips.com\/?p=117395"},"modified":"2018-06-01T15:49:03","modified_gmt":"2018-06-01T15:49:03","slug":"eurusd-trend-line-broken","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/11\/eurusd-trend-line-broken\/","title":{"rendered":"EURUSD: trend line broken"},"content":{"rendered":"<div id=\"inves-779414782\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 30, 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 29<sup>th<\/sup>\u00a0of November, trading on the euro\/dollar pair closed slightly up. Buyers recovered all their intraday losses during the American session after the British pound made some gains. The pound was boosted by the news that the UK had reached a deal with Brussels \u201cin principle\u201d regarding the EU divorce bill.<\/p>\n<p>The euro\u2019s rise was held up by a rise in US bond yields as well as increased caution from traders with the crucial Senate vote on tax reform approaching.<\/p>\n<p>In yesterday\u2019s speech, Fed Chair Janet Yellen said that the strengthening of the US economy would ensure the need for continued interest rate hikes. This speech along with the publication of US data strengthened the dollar, but it had erased all its gains by the end of the day.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:45 Switzerland: GDP (Q3).<\/li>\n<li>10:00 Germany: retail sales (Oct).<\/li>\n<li>10:45 France: CPI (Nov).<\/li>\n<li>11:00 Switzerland: KOF leading indicator (Nov).<\/li>\n<li>11:15 Switzerland: retail sales (Oct).<\/li>\n<li>11:55 Germany: unemployment rate (Nov), unemployment change (Nov).<\/li>\n<li>13:00 Eurozone: CPI (Nov), unemployment rate (Oct), ECB\u2019s Praet speech.<\/li>\n<li>16:30 Canada: current account (Q3).<\/li>\n<li>16:30 USA: personal spending (Oct), personal income (Oct), core personal consumption expenditures \u2013 price index (Oct), initial jobless claims (24 Nov).<\/li>\n<li>17:45 USA: Chicago PMI (Nov).<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/11\/eur_301117.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD rate on the hourly. Source: TradingView<\/p><div id=\"inves-2134024635\" 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>Yesterday\u2019s forecast came off; the target was reached. Sellers made several attempts to break down the trend line, but none were successful.<\/p>\n<p>The euro dropped to 1.1817 due to a decline on the euro\/pound cross and a surge for the US dollar. The price didn\u2019t manage to go any lower. The price then rebounded upwards during the Asian session to reach the 45<sup>th<\/sup>\u00a0degree at 1.1871. Since the trend line from 1.1961 has been broken through, today I\u2019m expecting the rate to rise to 1.1895.<\/p>\n<p>The price is currently sitting on the LB balance line (sma \u2013 55). The market is in equilibrium and is ready for a price divergence of +\/- 0.38%. I don\u2019t think the price will make it to 1.1899 (67 degrees) given that the stochastic oscillator is currently reversing downwards. If the price drops to 1.1845, it won\u2019t have enough time to return to the 67<sup>th<\/sup>\u00a0degree.<\/p>\n<p>If sellers break through the TR2 trend line during their attack, the growth described above will not come to pass. Under the current pricing model, I can\u2019t see the price declining any further should it break down the TR2 line. I think that in such a case we can expect to see a complex formation taking shape.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: trend line broken<\/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 29th\u00a0of November, trading on the euro\/dollar pair closed slightly up. Buyers recovered all their intraday losses during the American session after the British pound made some gains. The pound was boosted by the news that the UK had reached a deal with Brussels \u201cin principle\u201d regarding 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-117395","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117395","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=117395"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117395\/revisions"}],"predecessor-version":[{"id":117399,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117395\/revisions\/117399"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=117395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=117395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=117395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}