{"id":125234,"date":"2018-04-16T07:15:28","date_gmt":"2018-04-16T11:15:28","guid":{"rendered":"http:\/\/countingpips.com\/?p=125234"},"modified":"2018-06-01T15:40:52","modified_gmt":"2018-06-01T15:40:52","slug":"eurusd-stuck-in-a-range-of-1-2315-1-2355","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/04\/eurusd-stuck-in-a-range-of-1-2315-1-2355\/","title":{"rendered":"EURUSD: stuck in a range of 1.2315 \u2013 1.2355"},"content":{"rendered":"<div id=\"inves-1952338898\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">April 16, 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 Friday the 13<sup>th<\/sup>\u00a0of April, trading on the single currency closed slightly up against the greenback. Trading was mixed, with the pair fluctuating within a range of 1.2307 \u2013 1.2346 due to a lack of any new impetus.<\/p>\n<p>The euro came under pressure from the publication of the minutes of the ECB\u2019s meeting in March, while receiving support from the disappointing US data. The Michigan consumer sentiment index fell further than expected. Trading closed at around 1.2329.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>10:15 Switzerland: producer and import prices (Mar).<\/li>\n<li>15:30 USA: retail sales (Mar), NY Empire State manufacturing index (Apr).<\/li>\n<li>19:00 USA: FOMC member Kaplan speech, FOMC member Kashkari speech.<\/li>\n<li>20:15 USA: FOMC member Bostic speech.<\/li>\n<li>23:00 USA: total net TIC flows (Feb).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/308_5ad44b726cd7f.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p>\n<p>On Friday, our pair opted for the second scenario. Geopolitical tensions surrounding Syria subsided, so without any new impulses, the pair spent the session trading around the LB balance line.<\/p><div id=\"inves-444363683\" 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>On Saturday the 14<sup>th<\/sup>\u00a0of April, the USA, UK, and France carried out an airstrike on military and civilian targets in Syria. Since there were no casualties, there was no clash with Russian forces to follow and markets opened relatively peacefully this Monday.<\/p>\n<p>At the time of writing, the euro is trading at 1.2337. Taking the hourly cycles and patterns into account, as well as the indicators on the daily timeframe, I expect the euro to decline to 1.23 by the end of the day.<\/p>\n<p>On the hourly timeframe, the trend line runs through 1.2320. There\u2019s a risk of rebounding from this level and subsequently rising to the 45<sup>th<\/sup>\u00a0degree (1.2356). We need to keep an eye on Europe as trading gets underway, as well as on the dynamics euro crosses and the US dollar. The EURGBP and EURJPY pairs are currently trading down, while the EURAUD, EURCHF, and EURCAD pairs are up. The dollar provides a mixed picture. It\u2019s trading up against the franc, loonie, and euro, while trading down against the yen, Aussie, and Kiwi. If the hour closes above 1.2360, the case for a drop disappears.<\/p>\n<p>Source:\u00a0<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/25449_16042018\/\" target=\"_blank\" rel=\"noopener\">EURUSD: stuck in a range of 1.2315 \u2013 1.2355<\/a><\/p>\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Friday the 13th\u00a0of April, trading on the single currency closed slightly up against the greenback. Trading was mixed, with the pair fluctuating within a range of 1.2307 \u2013 1.2346 due to a lack of any new impetus. The euro came under pressure from the publication of the minutes of [&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-125234","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125234","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=125234"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125234\/revisions"}],"predecessor-version":[{"id":125236,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125234\/revisions\/125236"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=125234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=125234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=125234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}