{"id":125722,"date":"2018-04-25T07:55:34","date_gmt":"2018-04-25T11:55:34","guid":{"rendered":"http:\/\/countingpips.com\/?p=125722"},"modified":"2018-06-01T15:39:50","modified_gmt":"2018-06-01T15:39:50","slug":"eurusd-drop-to-the-45th-degree-likely","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/04\/eurusd-drop-to-the-45th-degree-likely\/","title":{"rendered":"EURUSD: drop to the 45th degree likely"},"content":{"rendered":"<div id=\"inves-2590815380\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">April 25, 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 Tuesday the 24<sup>th<\/sup>\u00a0of April, trading on the euro closed up, breaking its 3-day losing streak. The main factor behind the euro\u2019s rise was the US dollar\u2019s universal decline. As the market underwent a technical correction, participants ignored the positive US housing and consumer confidence data. The euro then corrected to the 45<sup>th<\/sup>\u00a0degree at 1.2245.<\/p>\n<p>The dollar\u2019s correction may have been triggered by the failure of US10Y bond yields to gain a foothold above 3%. This level was tested today in Asia and there\u2019s a risk of going up to 3.018%.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:45 France: consumer confidence (Apr).<\/li>\n<li>11:00 Switzerland: ZEW survey \u2013 expectations (Apr).<\/li>\n<li>14:30 USA: EIA crude oil stocks change (20 Apr).<\/li>\n<li>23:15 Canada: BoC governor Poloz speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/328_5ae02e21d5398.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p>\n<p>After the release of weak German data, the euro recovered to the 45<sup>th<\/sup>\u00a0degree at 1.2245. In Asia, the dollar is trading up against all the majors. The dynamics on the euro crosses are mixed. Today\u2019s economic calendar is fairly empty. For these reasons, today I expect to see a drop along the trend line to the 45<sup>th<\/sup>degree at 1.2190. If US10Y bond yields break 3%, we could hit a new low.<\/p><div id=\"inves-1196140793\" 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<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: drop to the 45th degree likely<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Tuesday the 24th\u00a0of April, trading on the euro closed up, breaking its 3-day losing streak. The main factor behind the euro\u2019s rise was the US dollar\u2019s universal decline. As the market underwent a technical correction, participants ignored the positive US housing and consumer confidence data. The euro then corrected [&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-125722","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125722","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=125722"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125722\/revisions"}],"predecessor-version":[{"id":125724,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/125722\/revisions\/125724"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=125722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=125722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=125722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}