{"id":124259,"date":"2018-03-29T07:14:58","date_gmt":"2018-03-29T11:14:58","guid":{"rendered":"http:\/\/countingpips.com\/?p=124259"},"modified":"2018-06-01T15:40:57","modified_gmt":"2018-06-01T15:40:57","slug":"eurusd-renewed-sales-expected-after-an-upwards-correction","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/03\/eurusd-renewed-sales-expected-after-an-upwards-correction\/","title":{"rendered":"EURUSD: renewed sales expected after an upwards correction"},"content":{"rendered":"<div id=\"inves-4077765181\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 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 Wednesday the 28<sup>th<\/sup>\u00a0of March, trading on the EURUSD pair closed down. The euro dropped from 1.2422 to 1.2300 (-122 pips). It looks like some stop levels were triggered as we went below 1.2370 and a new wave of euro sales commenced.<\/p>\n<p>The dollar has made significant gains against most other currencies on the back of positive US economic data as well as President Trump confirming that a meeting took place between the leaders of North Korea and China. According to China, Kim Jong Un is willing to hold a summit with the US over the denuclearisation of the Korean Peninsula.<\/p>\n<p>The 3<sup>rd<\/sup>\u00a0reading of US GDP for the 4<sup>th<\/sup>\u00a0quarter of 2017 posted an annual growth rate of 2.9% against a forecast of 2.5%. Pending home sales on the US real estate market also exceeded expectations.<\/p>\n<p>The decline on the EURUSD pair is also down to technical factors, specifically the triggering of large sell orders as a result of the breakout of yesterday\u2019s low (1.2372).<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p><div id=\"inves-2207109038\" 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 Switzerland: KOF leading indicator (Mar).<\/li>\n<li>10:55 Germany: unemployment change (Mar), unemployment rate (Mar).<\/li>\n<li>11:30 UK: GDP (Q4), current account (Q4), net lending to individuals (Apr), consumer credit (Feb), mortgage approvals (Feb).<\/li>\n<li>15:00 Germany: harmonised index of consumer prices (Mar).<\/li>\n<li>15:30 Canada: GDP (Jan), industrial product price (Feb).<\/li>\n<li>15:30 USA: personal spending (Feb), personal income (Feb), core personal consumption expenditure \u2013 price index (Feb).<\/li>\n<li>16:45 USA: Chicago PMI (Mar).<\/li>\n<li>17:00 USA: Michigan consumer sentiment index (Mar).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/275_5abc8a68d9907.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p>\n<p>By the end of the US session, sellers had been beaten back to the 135<sup>th<\/sup>\u00a0degree at 1.2309. My predictions for yesterday came off in full. My targets were even reached ahead of schedule.<\/p>\n<p>At the time of writing this review, the euro is trading at 1.2334. In Asia, the price is recovering as part of a correction to 1.2335. In today\u2019s forecast, I\u2019m expecting the euro to drop to 1.2289. I should warn you that the area between the 112<sup>th<\/sup>\u00a0and 135<sup>th<\/sup>\u00a0degrees is a reversal zone, so the upwards correction could make it as far as the 45<sup>th<\/sup>\u00a0degree at 1.2357. As for the drop, it hasn\u2019t ended yet. There\u2019s no bullish divergence between the AO and the price.<\/p>\n<p>Source:\u00a0<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/25123_29032018\/\" target=\"_blank\" rel=\"noopener\">EURUSD: renewed sales expected after an upwards correction<\/a><\/p>\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Wednesday the 28th\u00a0of March, trading on the EURUSD pair closed down. The euro dropped from 1.2422 to 1.2300 (-122 pips). It looks like some stop levels were triggered as we went below 1.2370 and a new wave of euro sales commenced. The dollar has made significant gains against most [&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-124259","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/124259","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=124259"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/124259\/revisions"}],"predecessor-version":[{"id":124261,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/124259\/revisions\/124261"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=124259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=124259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=124259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}