{"id":128375,"date":"2018-06-13T06:55:21","date_gmt":"2018-06-13T10:55:21","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=128375"},"modified":"2018-06-13T06:17:20","modified_gmt":"2018-06-13T10:17:20","slug":"eurusd-euro-bulls-all-over-the-place-in-anticipation-of-the-fed-decision-and-upcoming-ecb-meeting","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/eurusd-euro-bulls-all-over-the-place-in-anticipation-of-the-fed-decision-and-upcoming-ecb-meeting\/","title":{"rendered":"EURUSD: euro bulls all over the place in anticipation of the Fed decision and upcoming ECB meeting"},"content":{"rendered":"<div id=\"inves-2045943316\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 13, 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 12<sup>th<\/sup>\u00a0of June, trading on the euro closed down. This drop was brought about by the universal decline of the dollar following comments from Jerome Powell. He said that he plans to hold a press conference at the end of every central bank meeting. This is good news, as when Janet Yellen was chair, she only held press conferences after meetings in which interest rates were hiked. The euro has since dropped to 1.1734.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>11:30 UK: PPI (May), CPI (May).<\/li>\n<li>21:00 USA: Fed interest rate decision, FOMC economic projections, Fed\u2019s monetary policy statement.<\/li>\n<li>21:30 USA: FOMC press conference.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/13.06.18_EURUSD_H1_5b20d256ef937.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p>\n<p><strong>Current situation:<\/strong><\/p>\n<p>We\u2019ve had several false breakouts of the trend line recently. Our pair dropped below the trend line towards the end of the US session yesterday. The drop amounted to 67 degrees.<\/p><div id=\"inves-2684013147\" 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>Today marks the end of the FOMC\u2019s two-day meeting. Market participants are expecting a key rate hike of 0.25%. There will be a press conference with Chair Jerome Powell to follow. The ECB is meeting on Thursday. Volatility is set to be high during the US session.<\/p>\n<p>I\u2019ve decided not to make a forecast because I\u2019m expecting movements in all directions. Traders expect the ECB to set out a timeframe for ending its bond-buying program, while the Fed is expected to raise interest rates. If we consider that a rate hike has already been factored in by markets, then we\u2019ll most likely revisit the low from the 8<sup>th<\/sup>\u00a0of June (1.1727) before returning to 1.1755. We won\u2019t be able to move very far upwards without a decision from the ECB.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: euro bulls all over the place in anticipation of the Fed decision and upcoming ECB meeting<\/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 12th\u00a0of June, trading on the euro closed down. This drop was brought about by the universal decline of the dollar following comments from Jerome Powell. He said that he plans to hold a press conference at the end of every central bank meeting. This is good news, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-128375","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128375","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=128375"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128375\/revisions"}],"predecessor-version":[{"id":128376,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/128375\/revisions\/128376"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=128375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=128375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=128375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}