{"id":121941,"date":"2018-02-20T07:26:28","date_gmt":"2018-02-20T12:26:28","guid":{"rendered":"http:\/\/countingpips.com\/?p=121941"},"modified":"2018-06-01T15:42:20","modified_gmt":"2018-06-01T15:42:20","slug":"forex-market-review-20-02-18","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/02\/forex-market-review-20-02-18\/","title":{"rendered":"Forex market review (20\/02\/18)"},"content":{"rendered":"
February 20, 2018<\/div>
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By Veselin Petkov, Alpari<\/strong><\/p>\n

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As today\u2019s European session approaches, the EURUSD pair is trading at 1.2388 (-0.14%), so the euro has been slowly declining against the dollar since the end of last week. The US dollar index (DXY) has been given a boost thanks to the dollar\u2019s rise on multiple pairs and is now trading at 89.23 (+0.17%).<\/p>\n

There\u2019s not much expected on the news front today. At 13:00 (GMT+3), the ZEW will publish its economic sentiment surveys for Germany and the Eurozone in February. At 14:00 (GMT+3), the CBI will release its industrial trends survey on orders for the UK in February. I don\u2019t think that the European statistics will have much of an effect on the euro at the time, but the CBI survey could significantly increase volatility on the pound.<\/p>\n

EURUSD<\/strong><\/p>\n

On the hourly timeframe (H1), the EURUSD pair is trading around the low (1.2350 \u2013 1.2390) in the double top (1.2480 \u2013 1.2520):<\/p>\n

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As such, we now have a confirmed triple top on H1:<\/p>\n

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This all means that that there is a solid resistance around the triple top level, which is preventing the euro from rising.<\/p>

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So, today, I reckon that we could see the first attempt at a downwards breakout below the low level of the double top, followed by subsequent movements within a corridor of 1.2190 \u2013 1.2290, where the pair went through a phase of consolidation in January.<\/p>\n

Source: “Forex market review (20\/02\/18)<\/a>“<\/div>\n<\/div>\n
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By Veselin Petkov, Alpari As today\u2019s European session approaches, the EURUSD pair is trading at 1.2388 (-0.14%), so the euro has been slowly declining against the dollar since the end of last week. The US dollar index (DXY) has been given a boost thanks to the dollar\u2019s rise on multiple pairs and is now trading […]<\/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-121941","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/121941","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=121941"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/121941\/revisions"}],"predecessor-version":[{"id":121943,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/121941\/revisions\/121943"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=121941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=121941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=121941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}