{"id":119326,"date":"2018-01-09T07:45:21","date_gmt":"2018-01-09T12:45:21","guid":{"rendered":"http:\/\/countingpips.com\/?p=119326"},"modified":"2018-06-01T15:46:46","modified_gmt":"2018-06-01T15:46:46","slug":"eurusd-euro-gets-a-foothold-beneath-1-20","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/eurusd-euro-gets-a-foothold-beneath-1-20\/","title":{"rendered":"EURUSD: euro gets a foothold beneath 1.20"},"content":{"rendered":"<div id=\"inves-1596052154\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 9, 2018<\/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 8<sup>th<\/sup>\u00a0of January, trading on the euro\/dollar pair closed down. The euro dropped to the 1.1956 mark. Sellers came out to play as the European session opened and managed to bring the price back down below 1.20 by closing time.<\/p>\n<p>The US dollar rose across the board. In addition to the technical correction, the dollar was bolstered by the comments of 2 FOMC members; Raphael Bostic and John Williams.<\/p>\n<p>Williams, the president of the San Francisco Federal Reserve Bank, said over the weekend that the Fed should raise interest rates three times this year. Bostic revealed that the central bank is envisioning 2 \u2013 3 rate hikes in 2018 depending on inflation.<\/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 (Dec).<\/li>\n<li>10:00 Germany: industrial production (Nov), trade balance (Nov).<\/li>\n<li>10:45 France: trade balance (Nov).<\/li>\n<li>11:15 Switzerland: real retail sales (Nov).<\/li>\n<li>13:00 Eurozone: unemployment rate (Nov).<\/li>\n<li>16:15 Canada: housing starts (Dec).<\/li>\n<li>18:00 USA: JOLTS job openings (Nov).<\/li>\n<\/ul>\n<p align=\"center\"><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2018\/01\/eur_090118.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p><div id=\"inves-1980109104\" 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>Sellers refrained from accumulating positions during the consolidation phase around 1.2035. They went on the attack at the beginning of the European session. On Friday, they broke through the TR1 trend line and then through the TR2 on Monday.<\/p>\n<p>The euro\u2019s decline slowed down around the 112<sup>th<\/sup>\u00a0degree. As the euro fell below 1.2000, this created a double top formation on the 4H timeframe. For this, the closest targets are 1.1945 and 1.1911.<\/p>\n<p>My forecast will limit itself to 1.1945 given that the dollar is currently trading down against the majors in Asia. Should the dollar rise again, and all the major euro crosses decline, we can place 1.1925 levels at the 135<sup>th<\/sup>degree firmly in our sights.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: euro gets a foothold beneath 1.20<\/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 8th\u00a0of January, trading on the euro\/dollar pair closed down. The euro dropped to the 1.1956 mark. Sellers came out to play as the European session opened and managed to bring the price back down below 1.20 by closing time. The US dollar rose across the board. In [&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-119326","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119326","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=119326"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119326\/revisions"}],"predecessor-version":[{"id":119329,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119326\/revisions\/119329"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=119326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=119326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=119326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}