{"id":129255,"date":"2018-06-29T07:21:34","date_gmt":"2018-06-29T11:21:34","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=129255"},"modified":"2018-06-29T06:24:28","modified_gmt":"2018-06-29T10:24:28","slug":"eurusd-euro-strengthens-on-tusks-comments","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/06\/eurusd-euro-strengthens-on-tusks-comments\/","title":{"rendered":"EURUSD: euro strengthens on Tusk\u2019s comments"},"content":{"rendered":"<div id=\"inves-4003526321\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 29, 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 28<sup>th<\/sup>\u00a0of June, trading on the euro closed slightly up. A technical correction along with the general weakening of the dollar pushed the euro up. Softer rhetoric from the Trump administration towards China led to increased demand for risky assets. The euro later recovered from 1.1527 to 1.1600. The daily candlestick closed at 1.1568.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:45 France: consumer spending (May), CPI (Jun).<\/li>\n<li>10:00 Switzerland: KOF leading indicator (Jun).<\/li>\n<li>10:55 Germany: unemployment change (Jun), unemployment rate (Jun).<\/li>\n<li>11:30 UK: current account (Q1), GDP (Q1), net lending to individuals (May), mortgage approvals (May).<\/li>\n<li>12:00 Eurozone: CPI (Jun).<\/li>\n<li>15:30 Canada: GDP (Apr), industrial product price (May).<\/li>\n<li>15:30 USA: personal consumption expenditure \u2013 price index (May), personal spending (May), personal income (May).<\/li>\n<li>16:45 USA: Chicago PMI (Jun).<\/li>\n<li>17:00 USA: Michigan consumer sentiment index (Jun).<\/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\/29.06.18_EURUSD_H1_5b35e70ba5198.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p>\n<p>In Asia, the single currency has sharply increased on the back of an announcement from European Council President Donald Tusk that EU leaders have reached a deal on migration. This caused the rate to jump by 0.85% to reach 1.1667. Growth stopped at the 112<sup>th<\/sup>\u00a0degree.<\/p>\n<p>At the time of writing, the euro is trading at 1.1636, having recovered by 112 degrees. Given that the euro\u2019s surge was brought about by fundamental factors, the euro crosses are all trading up. Shorting the euro against the crosses and a dollar in decline across the board is risky. Because of the crosses, I\u2019m expecting the rate to recover to 1.1689 followed by a drop to 1.1655. If this happens quickly enough, we can entertain a further drop to 1.1624.<\/p><div id=\"inves-16575784\" 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>Trader attention today is focused on the EU summit, where an update on Brexit negotiations is expected.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: euro strengthens on Tusk\u2019s comments<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Thursday the 28th\u00a0of June, trading on the euro closed slightly up. A technical correction along with the general weakening of the dollar pushed the euro up. Softer rhetoric from the Trump administration towards China led to increased demand for risky assets. The euro later recovered from 1.1527 to 1.1600. [&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-129255","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129255","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=129255"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129255\/revisions"}],"predecessor-version":[{"id":129256,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129255\/revisions\/129256"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=129255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=129255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=129255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}