{"id":119410,"date":"2018-01-11T07:27:54","date_gmt":"2018-01-11T12:27:54","guid":{"rendered":"http:\/\/countingpips.com\/?p=119410"},"modified":"2018-06-01T15:46:45","modified_gmt":"2018-06-01T15:46:45","slug":"eurusd-downwards-trend-continues-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/eurusd-downwards-trend-continues-2\/","title":{"rendered":"EURUSD: downwards trend continues"},"content":{"rendered":"<div id=\"inves-1670279616\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 11, 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 Wednesday the 10<sup>th<\/sup>\u00a0of January, trading on the euro closed slightly up after Bloomberg landed a blow on the dollar during the European session. The news agency reported that China is planning to reduce or stop its purchases of US government bonds.<\/p>\n<p>The dollar dropped as bond yields rose due to the fact that China is the biggest holder of US debt. According to the US Treasury, China currently holds 1.189 trillion dollars\u2019 worth of US government bonds.<\/p>\n<p>The news about China sent the euro up to 1.2018 against the greenback. Since there were no official announcements from any Chinese officials, however, there was no further impetus for the dollar\u2019s decline. In the US session, the euro dropped to 1.1941.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>13:00 Eurozone: industrial production (Nov).<\/li>\n<li>15:30 Eurozone: ECB monetary policy meeting accounts.<\/li>\n<li>16:30 Canada: new housing price index (Nov).<\/li>\n<li>16:30 USA: PPI (Dec), initial jobless claims (5 Jan).<\/li>\n<li>22:00 USA: Monthly budget statement (Dec).<\/li>\n<\/ul>\n<p align=\"center\"><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2018\/01\/eur_110118.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p><div id=\"inves-3071694681\" 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>Due to the unexpected news on China, yesterday\u2019s predictions didn\u2019t come off. Sellers erased yesterday\u2019s gains, bringing the exchange rate down to 1.1941. At the time of writing, the euro is trading at 1.1952.<\/p>\n<p>Considering that on Wednesday, the euro\/dollar rate corrected by nearly 90 degrees, and that the rate returned to the LB balance line (sma 55), for today, I\u2019m predicting that the euro will slide against the dollar to the 112<sup>th<\/sup>\u00a0degree at 1.1881. To trigger this decline, the bears need to break through the 1.1930 support. At the moment, the following crosses are getting in the way of this: EURJPY, EURGBP, EURCHF, and EURCAD.<\/p>\n<p>If the euro continues to trade above 1.1915 up to the 15<sup>th<\/sup>\u00a0of January, then from Monday, I\u2019ll be expecting the euro\/dollar pair to rise again.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: downwards trend continues<\/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 10th\u00a0of January, trading on the euro closed slightly up after Bloomberg landed a blow on the dollar during the European session. The news agency reported that China is planning to reduce or stop its purchases of US government bonds. The dollar dropped as bond yields rose due [&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-119410","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119410","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=119410"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119410\/revisions"}],"predecessor-version":[{"id":119412,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119410\/revisions\/119412"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=119410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=119410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=119410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}