{"id":123303,"date":"2018-03-15T07:59:56","date_gmt":"2018-03-15T11:59:56","guid":{"rendered":"http:\/\/countingpips.com\/?p=123303"},"modified":"2018-06-01T15:42:14","modified_gmt":"2018-06-01T15:42:14","slug":"eurusd-trading-expected-within-a-range-of-1-2348-1-2410","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/03\/eurusd-trading-expected-within-a-range-of-1-2348-1-2410\/","title":{"rendered":"EURUSD: trading expected within a range of 1.2348 \u2013 1.2410"},"content":{"rendered":"<div id=\"inves-3277802537\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 15, 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 14<sup>th<\/sup>\u00a0of March, trading on the EURUSD pair closed down. The drop started during the European session from the 112<sup>th<\/sup>\u00a0degree and the trend line. The rate dropped from 1.2413 to reach 1.2361. The euro\u2019s drop was facilitated by Mario Draghi\u2019s speech. He said that a strong euro would temper inflation, which is currently at a low level and needs to become more sustainable before ending the asset purchasing program.<\/p>\n<p>The market then entered a phase of high volatility following reports that President Trump is considering imposing tariffs on up to 60bn USD of Chinese goods in order to address America\u2019s trade deficit with China.<\/p>\n<p>In the US session, the euro slumped to 1.2347 before closing at 1.2367 as weak US retail sales data weighed down on the dollar.<\/p>\n<p><strong><em>US data:<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>PPI (MoM) (Feb): 0.2% (forecast: 0.1%, previous: 0.4%).<\/li>\n<li>PPI ex food &amp; energy (MoM) (Feb): 0.2% (forecast: 0.2%, previous: 0.4%).<\/li>\n<li>Retail sales (MoM) (Feb): -0.1% (forecast: 0.3%, previous: -0.1%).<\/li>\n<li>Retail sales ex autos (MoM) (Feb): 0.2% (forecast: 0.4%, previous: 0.1%).<\/li>\n<\/ul>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p><div id=\"inves-2878772917\" 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>10:45 France: CPI (Feb).<\/li>\n<li>11:15 Switzerland: producer and import prices (Feb).<\/li>\n<li>11:30 Switzerland: SNB interest rate decision.<\/li>\n<li>15:30 USA: initial jobless claims (9 Mar), NY Empire State manufacturing index (Mar), import price index (Feb), Philadelphia Fed manufacturing survey (Mar).<\/li>\n<li>17:00 USA: NAHB housing market index (Mar).<\/li>\n<li>18:45 Eurozone: ECB&#8217;s Lautenschl\u00e4ger speech.<\/li>\n<li>23:00 USA: net long-term TIC flows (Jan).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/15.03.18_EURUSD_H1_5aaa3071b40b3.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p>\n<p>My prediction that buyers wouldn\u2019t induce a breakout of the trend line yesterday turned out to be correct. They didn\u2019t even try testing it, giving way to Mario Draghi\u2019s speech. After dropping to the balance line, the EURUSD pair entered a sideways phase.<\/p>\n<p>At the time of writing, the euro is trading at 1.2372. I reckon that fluctuations on this pair today will be limited to a range of 1.2348 \u2013 1.2410. According to my calculations, the rate should drop to the trend line at 1.2350 (45 degrees) before rising to reach 1.2403 (45 degrees). So basically, I\u2019m looking at movement between the 45<sup>th<\/sup>\u00a0degrees.<\/p>\n<p>1.2350 is a support level. If sellers manage to break it, the road to 1.2310 will open up. If the hourly bar closes below 1.2350, the case for growth disappears.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: trading expected within a range of 1.2348 \u2013 1.2410<\/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 14th\u00a0of March, trading on the EURUSD pair closed down. The drop started during the European session from the 112th\u00a0degree and the trend line. The rate dropped from 1.2413 to reach 1.2361. The euro\u2019s drop was facilitated by Mario Draghi\u2019s speech. He said that a strong euro would [&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-123303","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123303","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=123303"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123303\/revisions"}],"predecessor-version":[{"id":123305,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123303\/revisions\/123305"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=123303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=123303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=123303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}