{"id":125469,"date":"2018-04-20T07:30:54","date_gmt":"2018-04-20T11:30:54","guid":{"rendered":"http:\/\/countingpips.com\/?p=125469"},"modified":"2018-06-01T15:39:51","modified_gmt":"2018-06-01T15:39:51","slug":"eurusd-euro-expected-to-continue-its-decline","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/04\/eurusd-euro-expected-to-continue-its-decline\/","title":{"rendered":"EURUSD: euro expected to continue its decline"},"content":{"rendered":"<div id=\"inves-2307396371\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">April 20, 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 19<sup>th<\/sup>\u00a0of April, trading on the euro closed down. The single currency slid against the dollar from 1.2400 to 1.2345. The local minimum is at 1.2329. Additionally, the greenback got a boost from a rise in US10Y bond yields, which have jumped from 2.86% to 2.934%.<\/p>\n<p>Aside from the dollar\u2019s universal rise, the euro was also pressured by a declining pound following BoE governor Mark Carney\u2019s speech. He said that he didn\u2019t want to get \u201ctoo focused on the precise timing\u201d of the next interest rate rise owing to recent mixed fundamental economic data. The single currency has also gained support through the EURGBP cross, but since this pair is moving in only one direction, the pound is going to drag the euro down with it.<\/p>\n<p><strong>US data:<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>Leading economic index (Mar): 0.3% (forecast: 0.3%, previous: 0.7%).<\/li>\n<li>Initial jobless claims: 232,000 (forecast: 230,000, previous: 233,000).<\/li>\n<li>Philadelphia Fed manufacturing survey: 23.2 (forecast: 20.8, previous: 22.3).<\/li>\n<\/ul>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:00 Germany: PPI (Mar).<\/li>\n<li>14:30 Germany: German Buba President Weidmann speech.<\/li>\n<li>15:30 Canada: CPI (Mar), retail sales (Mar).<\/li>\n<li>16:40 USA: Fed\u2019s Evans speech.<\/li>\n<li>17:00 Eurozone: consumer confidence (Apr).<\/li>\n<li>18:15 USA: FOMC member Williams\u2019 speech.<\/li>\n<li>20:00 USA: Baker Hughes US oil rig count.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/20040_5ad99121af19f.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p><div id=\"inves-2762326505\" 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>In the US session, sellers broke the trend line at 1.2360. From 1.24, the rate dropped to 1.2329 without going any lower. This drop was the result of the sharp upwards reversal on the EURGBP cross. I\u2019ve already stated above why the pound is declining.<\/p>\n<p>The price on our main pair has been consolidating around 1.2340 for the last 15 hours. Considering that the dollar is trading up against all the majors in today\u2019s Asian session, our pair is set to hit a new daily low. I think this will happen at some point during the US session. There aren\u2019t any important news releases in Europe today. For Friday, my target is 1.2305 (ideally 1.2290).<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: euro expected to continue its decline<\/a>&#8220;<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Thursday the 19th\u00a0of April, trading on the euro closed down. The single currency slid against the dollar from 1.2400 to 1.2345. The local minimum is at 1.2329. Additionally, the greenback got a boost from a rise in US10Y bond yields, which have jumped from 2.86% to 2.934%. Aside from [&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-125469","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125469","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=125469"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125469\/revisions"}],"predecessor-version":[{"id":125471,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125469\/revisions\/125471"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=125469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=125469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=125469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}