{"id":120551,"date":"2018-01-29T06:50:41","date_gmt":"2018-01-29T11:50:41","guid":{"rendered":"http:\/\/countingpips.com\/?p=120551"},"modified":"2018-06-01T15:43:48","modified_gmt":"2018-06-01T15:43:48","slug":"eurusd-consolidation-within-thursdays-range-25th-jan","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/eurusd-consolidation-within-thursdays-range-25th-jan\/","title":{"rendered":"EURUSD: consolidation within Thursday\u2019s range (25th Jan)"},"content":{"rendered":"<div id=\"inves-3195562866\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 29, 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 Friday the 26<sup>th<\/sup>\u00a0of January, trading on the euro closed up. The euro rose against the dollar during the Asian session before erasing all it gains in the US. The dollar rose across the board, ignoring the weak US GDP data for the 4<sup>th<\/sup>\u00a0quarter.<\/p>\n<p>GDP figures came out lower than the estimates and the reading for the previous quarter was revised downwards, which is a negative for the dollar.<\/p>\n<p>These negatives were cancelled out by the index for durable goods orders, which came out much better than expected, as well as the rise in US 10Y bond yields. The pair dropped from a high of 1.2494 to 1.2406 (-88 pips).<\/p>\n<p><strong>US data:<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>GDP index &#8211; +2.6% YoY (forecast: 3.0%, previous reading revised from 3.2% to 2.6%).<\/li>\n<li>Durable goods orders (Dec) \u2013 2.9% (forecast: 0.8%, previous reading revised from 1.3% to 1.7%).<\/li>\n<\/ul>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p><div id=\"inves-2168340121\" 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<ul class=\"list list_type_disc\">\n<li>10:00 UK: Nationwide housing price index (Jan).<\/li>\n<li>13:00 Eurozone: ECB\u2019s Praet speech.<\/li>\n<li>13:45 Eurozone: ECB&#8217;s Lautenschl\u00e4ger Speech.<\/li>\n<li>16:30 USA: core personal consumption expenditure \u2013 price index (Dec), personal income (Dec).<\/li>\n<li>19:00 Eurozone: ECB&#8217;s C\u0153ur\u00e9 Speech.<\/li>\n<\/ul>\n<p align=\"center\"><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2018\/01\/eur_290118.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p>\n<p>My predictions for Friday came off in full. At the time of writing this review, the euro is trading at 1.2411. Buyers were met with resistance around the 1.24 region, through which the upper line of the recently broken B-B channel runs.<\/p>\n<p>The daily candlestick has a bullish body and a long wick. This is the second candlestick with a long shadow that we\u2019ve seen in recent times. These suggest a strong resistance around 1.25, so we\u2019ll most likely see a correction on the euro ahead of Friday\u2019s payrolls.<\/p>\n<p>Trader attention this week will turn towards the upcoming FOMC meeting and Friday\u2019s payrolls report for January.<\/p>\n<\/div>\n<div class=\"grid__row s_height_36\">\n<div class=\"grid__col grid__col_w_5\">\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: consolidation within Thursday\u2019s range (25th Jan)<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Friday the 26th\u00a0of January, trading on the euro closed up. The euro rose against the dollar during the Asian session before erasing all it gains in the US. The dollar rose across the board, ignoring the weak US GDP data for the 4th\u00a0quarter. GDP figures came out lower than [&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-120551","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/120551","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=120551"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/120551\/revisions"}],"predecessor-version":[{"id":120554,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/120551\/revisions\/120554"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=120551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=120551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=120551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}