{"id":118024,"date":"2017-12-12T08:01:57","date_gmt":"2017-12-12T13:01:57","guid":{"rendered":"http:\/\/countingpips.com\/?p=118024"},"modified":"2018-06-01T15:48:24","modified_gmt":"2018-06-01T15:48:24","slug":"eurusd-daily-candlesticks-have-formed-a-range-of-1-1730-to-1-1812","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/eurusd-daily-candlesticks-have-formed-a-range-of-1-1730-to-1-1812\/","title":{"rendered":"EURUSD: daily candlesticks have formed a range of 1.1730 to 1.1812"},"content":{"rendered":"<div id=\"inves-2807688742\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 12, 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 Monday the 11<sup>th<\/sup>\u00a0of December, trading on the euro\/dollar pair closed slightly down, leaving a wick with a high of 1.1812 before dropping to 1.1769. With a bare economic calendar, market activity at the beginning of this week has got off to a slow start. Traders based their decisions mostly on the dynamics of US bond yields. In Europe, US 10Y bond yields dropped to 2.354%, before recovering to 2.391% in the US session. Growth for bond yields means growth for the dollar.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>07:30 Japan: tertiary industry index (Nov).<\/li>\n<li>09:30 France: nonfarm payrolls (Q4).<\/li>\n<li>12:30 UK: CPI (Nov), retail price index (Nov), PPI input (Nov), PPI output (Nov).<\/li>\n<li>13:00 Germany: ZEW survey \u2013 economic sentiment (Dec).<\/li>\n<li>13:00 Eurozone: ZEW survey \u2013 economic sentiment (Dec).<\/li>\n<li>16:30 USA: PPI (Nov).<\/li>\n<li>22:00 USA: monthly budget statement (Nov).<\/li>\n<li>22:00 Eurozone: ECB President Mario Draghi\u2019s speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2017\/12\/eur_121217.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p>\n<p>Yesterday\u2019s predictions didn\u2019t come off. With the euro crosses rising and US 10Y bond yields dropping, the euro broke up the A-A channel. The euro\u2019s rise against the dollar was stopped in its tracks by the 67<sup>th<\/sup>degree. The EURUSD rate dropped to 1.1765.<\/p>\n<p>The 45<sup>th<\/sup>\u00a0degree has shifted from 1.1730 to 1.1758 as a result of the 1.1812 high being formed. I think the euro is going to move upwards from the 45<sup>th<\/sup>\u00a0degree towards 1.1811. On the daily timeframe, two candlesticks with diverging tails have formed a range of 1.1730 to 1.1812. The euro will continue to move in whichever direction it breaks out of this range.<\/p><div id=\"inves-2248018224\" 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>Markets await the FOMC meeting and Janet Yellen\u2019s press conference on the 13<sup>th<\/sup>\u00a0of December. They\u2019ve already factored in a 25-base-point increase to interest rates, so euro bulls shouldn\u2019t waste their energy trying to push the price up here.<\/p>\n<p>I\u2019m thinking about opening a long position with a BuyStop at 1.1780. If the euro renews the 1.1764 low, then it may be worth risking a long position from 1.1758\/60. These are preliminary values, they may need adjustment later.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: daily candlesticks have formed a range of 1.1730 to 1.1812<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Monday the 11th\u00a0of December, trading on the euro\/dollar pair closed slightly down, leaving a wick with a high of 1.1812 before dropping to 1.1769. With a bare economic calendar, market activity at the beginning of this week has got off to a slow start. Traders based their decisions mostly [&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-118024","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118024","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=118024"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118024\/revisions"}],"predecessor-version":[{"id":118029,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/118024\/revisions\/118029"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=118024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=118024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=118024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}