{"id":129462,"date":"2018-07-03T07:40:21","date_gmt":"2018-07-03T11:40:21","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=129462"},"modified":"2018-07-03T06:16:18","modified_gmt":"2018-07-03T10:16:18","slug":"eurusd-us-independence-day-could-bring-volatility","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/07\/eurusd-us-independence-day-could-bring-volatility\/","title":{"rendered":"EURUSD: US Independence Day could bring volatility"},"content":{"rendered":"<div id=\"inves-3512043898\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 3, 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 2<sup>nd<\/sup>\u00a0of July, trading on the euro closed down. Germany&#8217;s political crisis coupled with the overall strengthening of the dollar put pressure on the pair.<\/p>\n<p>US economic activity indices exceeded expectations. Against the backdrop of positive statistics, US 10-year Treasury yields rose to 2.870%. After dipping to 1.1591, the euro recovered to 1.1648. By this time we had already seen a technical correction following the close of the European session.<\/p>\n<p><strong>US data:<\/strong><\/p>\n<p>The ISM manufacturing PMI in June hit 60.2 (forecast: 58.4, previous: 58.7).<\/p>\n<p>The Markit manufacturing PMI in June rose to 55.4 (forecast: 54.8, previous: 54.3).<\/p><div id=\"inves-1090023786\" 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><strong>Day&#8217;s news (GMT+3)<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>11:30 UK: PMI construction (Jun), FPC meeting minutes.<\/li>\n<li>12:00 Eurozone: PPI (MoM) (May), retail sales (MoM) (May).<\/li>\n<li>17:00 US: factory orders (MoM) (May).<\/li>\n<li>19:00 Eurozone: ECB&#8217;s Praet speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/03.07.18_EURUSD_H1_5b3b3a84cb431.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p>\n<p><strong>Current situation:<\/strong><\/p>\n<p>Expectations concerning yesterday&#8217;s decline on the euro were fully justified. Euro bears \u00a0broke the trend line and reached 67 degrees. The fall was quite hard.<\/p>\n<p>From a minimum of 1.1591, the price recovered by 45 degrees. The euro is trading near the balance line (sma 55). Given that the market will close early in the US due to Independence Day (the 4th of July), volatility could rise by the evening.<\/p>\n<p>During European trading, the price may recover to 1.1676 due to the crosses. If you&#8217;re thinking about selling euros, then keep an eye on the resistance zone (H1.1721 and H1.1690). Movements on the crosses could lead to a breakout. The dollar is trading in positive territory against the Swiss franc and yen. This means that the demand for risky assets has increased. If buyers pass through the resistance of 1.1677, then they will open the way to 1.1745. The upper line of the channel is formed from the lows of 1.1508 and 1.1827. If the support of 1.1619 doesn&#8217;t hold, then we&#8217;ll move towards the lower boundary of the channel (1.1545).<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: US Independence Day could bring volatility\u00a0<\/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 2nd\u00a0of July, trading on the euro closed down. Germany&#8217;s political crisis coupled with the overall strengthening of the dollar put pressure on the pair. US economic activity indices exceeded expectations. Against the backdrop of positive statistics, US 10-year Treasury yields rose to 2.870%. After dipping to 1.1591, [&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-129462","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129462","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=129462"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129462\/revisions"}],"predecessor-version":[{"id":129463,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129462\/revisions\/129463"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=129462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=129462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=129462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}