{"id":124299,"date":"2018-03-30T14:11:24","date_gmt":"2018-03-30T18:11:24","guid":{"rendered":"http:\/\/countingpips.com\/?p=124299"},"modified":"2018-06-01T15:40:56","modified_gmt":"2018-06-01T15:40:56","slug":"eurusd-markets-ready-to-short-the-euro","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/03\/eurusd-markets-ready-to-short-the-euro\/","title":{"rendered":"EURUSD: markets ready to short the euro"},"content":{"rendered":"<div id=\"inves-2435993385\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 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 Thursday the 29<sup>th<\/sup>\u00a0of March, trading on the EURUSD pair closed slightly down. The US dollar gained ground against the single currency as traders adjusted their open positions ahead of the long weekend. The rate ended up dropping to 1.2284.<\/p>\n<p><strong><em>US data:<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>Michigan consumer sentiment index (Mar): 101.4 (forecast: 102.0, previous: 102.0).<\/li>\n<li>Personal income (Feb): 0.4% (forecast: 0.4%, previous: 0.4%).<\/li>\n<li>Personal spending (Feb): 0.2% (forecast: 0.2%, previous: 0.2%).<\/li>\n<li>Initial jobless claims (23 Mar): 215,000 (forecast: 230,000, previous: 227,000).<\/li>\n<li>Canada GDP (Jan): -0.1% MoM, 2.7% YoY (forecast: 0.1% MoM, 2.9% YoY, previous reading revised from 0.1% MoM and 3.3% YoY to 0.2% MoM and 3.4% YoY).<\/li>\n<\/ul>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<p>Good Friday: Australia, Canada, New Zealand, Switzerland, UK, USA, and Germany.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/30.03.18_EURUSD_H1_5abdda1ec4ca9.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p><div id=\"inves-843043711\" 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>A new daily low was reached yesterday just as I expected. The euro dropped to the 157<sup>th<\/sup>\u00a0degree.<\/p>\n<p>At the time of writing, the euro is trading at 1.2313. The price has corrected to the trend line from its low point of 1.2284 and now euro sales are recommencing. For today, I\u2019m predicting a drop to 1.2267. The 17:00 (GMT+3) bar will be important as this is where the hourly cycles indicate an upwards reversal should take place. Markets will be thin today, so we might even be able to reach 1.2254. If the bears don\u2019t make it to their target of 1.2267 by 17:00, I think it highly unlikely that the euro will continue to decline. According to my projections, the growth phase will last until the 4<sup>th<\/sup>\u00a0of April.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: markets ready to short the euro<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Thursday the 29th\u00a0of March, trading on the EURUSD pair closed slightly down. The US dollar gained ground against the single currency as traders adjusted their open positions ahead of the long weekend. The rate ended up dropping to 1.2284. US data: Michigan consumer sentiment index (Mar): 101.4 (forecast: 102.0, [&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-124299","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/124299","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=124299"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/124299\/revisions"}],"predecessor-version":[{"id":124301,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/124299\/revisions\/124301"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=124299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=124299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=124299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}