{"id":117593,"date":"2017-12-04T08:01:45","date_gmt":"2017-12-04T13:01:45","guid":{"rendered":"http:\/\/countingpips.com\/?p=117593"},"modified":"2018-06-01T15:48:29","modified_gmt":"2018-06-01T15:48:29","slug":"eurusd-buyers-retreating-to-the-trend-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/eurusd-buyers-retreating-to-the-trend-line\/","title":{"rendered":"EURUSD: buyers retreating to the trend line"},"content":{"rendered":"<div id=\"inves-1932222323\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 4, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><div>\n<div class=\"reviews-item__header\">\n<div class=\"reviews-item__info s_float_l\">\n<p><strong>By Gabriel Ojimadu, Alpari<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"reviews-item__content\">\n<p><strong>Previous:<\/strong><\/p>\n<p>Friday\u2019s trading on the euro\/dollar pair closed slightly down. Sellers erased nearly all their gains in the US session after the news that former national security advisor Michael Flynn was ready to give testimony against Trump. The euro jumped 84 pips from 1.1851 to 1.1935. Once markets had calmed down, the euro receded to 1.1895.<\/p>\n<p><strong>Day\u2019s news<\/strong><strong>\u00a0(GMT +3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>12:30 UK: PMI construction (Nov).<\/li>\n<li>12:30 Eurozone: Sentix investor confidence (Dec).<\/li>\n<li>13:00 Eurozone: PPI (Oct).<\/li>\n<li>18:00 USA: factory orders (Oct).<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/12\/eur_041217.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p>\n<p>My expectations of a decline on Friday proved right, expect that before the drop, the euro the euro made it to 1.1940.<\/p>\n<p>The dollar has opened up in Monday\u2019s Asian session as traders react to the news coming out of the US buy buying dollars. US President Donald Trump on Sunday denied accusations of collusion with Russia, tweeting that Michael Flynn was fired back in February for lying both to the Vice president and FBI. The White House said that it did not feel under threat by Flynn\u2019s admission of guilt to passing on false information to the FBI.<\/p><div id=\"inves-1647965144\" 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>As the session opened, the euro dropped to 1.1856. The price had restored by 67 degrees on Friday, before dropping by the same amount today in Asia. At the time of writing, the euro is trading at 1.1868. A wedge is forming on the hourly timeframe, although it\u2019s as yet unclear how the price will behave itself around its lower boundary.<\/p>\n<p>Considering today\u2019s opening and the bare European economic calendar, I tink the price should go towards the TR2 trend line at 1.1837. From here, I expect the euro to rise to the LB balance line (sma 55).<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: buyers retreating to the trend line<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: Friday\u2019s trading on the euro\/dollar pair closed slightly down. Sellers erased nearly all their gains in the US session after the news that former national security advisor Michael Flynn was ready to give testimony against Trump. The euro jumped 84 pips from 1.1851 to 1.1935. Once markets had calmed down, [&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-117593","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117593","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=117593"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117593\/revisions"}],"predecessor-version":[{"id":117594,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/117593\/revisions\/117594"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=117593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=117593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=117593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}