{"id":120610,"date":"2018-01-30T07:04:06","date_gmt":"2018-01-30T12:04:06","guid":{"rendered":"http:\/\/countingpips.com\/?p=120610"},"modified":"2018-06-01T15:43:47","modified_gmt":"2018-06-01T15:43:47","slug":"eurusd-technical-factors-weighing-on-buyers-on-the-daily-timeframe","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/eurusd-technical-factors-weighing-on-buyers-on-the-daily-timeframe\/","title":{"rendered":"EURUSD: technical factors weighing on buyers on the daily timeframe"},"content":{"rendered":"<div id=\"inves-2397059789\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 30, 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 29<sup>th<\/sup>\u00a0of January, trading on the euro closed down. The main driver for this decline was the rise of the US dollar as well as bond yields.<\/p>\n<p>The US dollar index, which measures the dollar against a basket of major currencies, rose to 89.61, while US 10Y bond yields jumped to 2.7282%.<\/p>\n<p>The euro spent the European session trading above 1.2385 before dropping to 1.2337 in the US session. This is where some technical factors from the daily timeframe came into play (two candlesticks with long wicks). By the day\u2019s close, the euro had recovered to 1.2390.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:30 France:\u00a0 GDP (Q4).<\/li>\n<li>10:00 Switzerland: trade balance (Dec).<\/li>\n<li>11:00 Switzerland: KOF leading indicator (Jan).<\/li>\n<li>12:30 UK: net lending to individuals (Dec), M4 money supply (Dec), mortgage approvals (Dec).<\/li>\n<li>13:00 Eurozone: GDP (Q4), economic sentiment indicator (Jan), consumer confidence (Jan), industrial confidence (Jan), business climate (Jan).<\/li>\n<li>16:00 Germany: harmonised index of consumer prices (Jan).<\/li>\n<li>17:00 USA: S&amp;P\/Case-Shiller home prices indices (Nov).<\/li>\n<\/ul>\n<p align=\"center\"><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/eur_300118_5a70216ef0f85.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p><div id=\"inves-4011370114\" 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>In Asia, the euro is trading slightly down. The greenback is showing mixed dynamics against the majors. The euro crosses are showing a similar picture.<\/p>\n<p>I reckon that the dollar\u2019s rise could slow down today. Trader attention will be focused on European data; the preliminary CPI data from Germany as well as GDP data from both France and he Eurozone. Today also marks the beginning of the FOMC\u2019s two-day meeting. Markets are expecting interest rates to be maintained at 1.25% &#8211; 1.50%.<\/p>\n<p>In my forecast, I expect to see the euro drop to 1.2352 followed by a jump to 1.2400 as part of an upwards correction. Sellers shouldn\u2019t let buyers get any further than the LB line, which currently runs through 1.2408, or else buyers will turn the trend in their favour and restore the euro to 1.2450. After the dollar\u2019s collapse last week, its potential for growth hasn\u2019t been completely exhausted. It\u2019s in a position to correct itself until the 1<sup>st<\/sup>of February.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: technical factors weighing on buyers on the daily timeframe<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Monday the 29th\u00a0of January, trading on the euro closed down. The main driver for this decline was the rise of the US dollar as well as bond yields. The US dollar index, which measures the dollar against a basket of major currencies, rose to 89.61, while US 10Y bond [&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-120610","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/120610","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=120610"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/120610\/revisions"}],"predecessor-version":[{"id":120612,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/120610\/revisions\/120612"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=120610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=120610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=120610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}