{"id":129585,"date":"2018-07-05T07:12:52","date_gmt":"2018-07-05T11:12:52","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=129585"},"modified":"2018-07-05T06:13:52","modified_gmt":"2018-07-05T10:13:52","slug":"eurusd-euro-looking-up-with-renewed-vigour","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/07\/eurusd-euro-looking-up-with-renewed-vigour\/","title":{"rendered":"EURUSD: euro looking up with renewed vigour"},"content":{"rendered":"<div id=\"inves-1368064848\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 5, 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 Wednesday the 4<sup>th<\/sup>\u00a0of July, trading on the euro closed slightly up. The US had a national holiday, so market activity was pretty low. In the first half of the day, the single currency dropped to 1.1631. In the US session, the rate recovered to 1.1675.<\/p>\n<p>The reason for this growth with such a thin market may have been a Bloomberg report, which said that several members of the ECB\u2019s governing council believe that raising interest rates at the end of 2019 would be too late. The euro jumped 35 pips, which changed the wave structure from what I\u2019d been expecting. Now let\u2019s see what awaits us this Thursday.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:00 Germany: factory orders (May).<\/li>\n<li>10:15 Switzerland: CPI (Jun).<\/li>\n<li>13:00 UK: BoE\u2019s Governor Carney speech.<\/li>\n<li>15:15 USA: ADP employment change (Jun).<\/li>\n<li>15:15 Eurozone: ECB\u2019s Mersch speech.<\/li>\n<li>15:30 USA: initial jobless claims (30 Jun).<\/li>\n<li>16:45 USA: Markit services PMI (Jun).<\/li>\n<li>17:00 USA: ISM non-manufacturing index (Jun).<\/li>\n<li>18:00 USA: EIA crude oil stocks change (29 Jun).<\/li>\n<li>21:00 USA: FOMC minutes.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/EUR_050718_5b3dcfacce670.jpg\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p>\n<p><strong>Current situation:<\/strong><\/p><div id=\"inves-3138088452\" 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>My expectations for yesterday proved partially correct. The rate dropped below its target level. Today, according to my forecast, the drop should have continued to 1.1600, but the news from Bloomberg has changed market sentiment and nullified this outcome.<\/p>\n<p>It\u2019s also unclear why the euro strengthened across the board in the last hour of the session. The dollar is showing mixed dynamics against the majors. All the euro crosses have moved into positive territory.<\/p>\n<p>There were no statistics released yesterday, so there must have been some kind of statement from ECB representatives or another article was published on the subject of interest rates or QE reversal that cites a source from the ECB.<\/p>\n<p>Buyers have broken the resistance at 1.1676 and are now trying to push towards 1.1720. There\u2019s an intermediate resistance level at 1.1690.<\/p>\n<p>The euro is currently trading at 1.1686. With the situation as it is, I can\u2019t see any signs of a price drop. The indicators also point towards further growth. The crosses will drag the euro up with them until trading gets underway in London.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: euro looking up with renewed vigour<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Wednesday the 4th\u00a0of July, trading on the euro closed slightly up. The US had a national holiday, so market activity was pretty low. In the first half of the day, the single currency dropped to 1.1631. In the US session, the rate recovered to 1.1675. The reason for this [&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-129585","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129585","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=129585"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129585\/revisions"}],"predecessor-version":[{"id":129586,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129585\/revisions\/129586"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=129585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=129585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=129585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}