{"id":129872,"date":"2018-07-11T07:32:04","date_gmt":"2018-07-11T11:32:04","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=129872"},"modified":"2018-07-11T06:53:26","modified_gmt":"2018-07-11T10:53:26","slug":"eurusd-the-price-may-remain-between-1-1691-and-1-1791-until-the-end-of-the-day","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/07\/eurusd-the-price-may-remain-between-1-1691-and-1-1791-until-the-end-of-the-day\/","title":{"rendered":"EURUSD: the price may remain between 1.1691 and 1.1791 until the end of the day"},"content":{"rendered":"<div id=\"inves-423954090\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 11, 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 10<sup>th<\/sup>\u00a0of July, trading on the euro closed slightly down. During European trading, the euro fell to 1.1691. Buyers managed to win back most of the losses by the close of the day. The downward correction on the dollar index contributed to the price recovery. The market seems to have calmed down after the resignations of British government ministers. The price returned to 1.1750.<\/p>\n<p><strong>Day&#8217;s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>14:20 US: OPEC monthly report.<\/li>\n<li>15:00 Eurozone: ECB&#8217;s Mersch speech.<\/li>\n<li>15:30 US: PPI (Jun).<\/li>\n<li>17:00 Canada: BoC interest rate decision, BoC rate statement, BoC monetary policy report.<\/li>\n<li>17:00 US: wholesale inventories (May).<\/li>\n<li>17:30 US: EIA crude oil stocks change (Jul 2).<\/li>\n<li>18:15 Canada: BoC press conference.<\/li>\n<li>18:35 UK: BOE&#8217;s Governor Carney speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/11.07.18_EURUSD_H1_5b45b7d969e59.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p>\n<p><strong>Current situation:<\/strong><\/p>\n<p>In the European session, sellers successfully broke the trend line and lowered the price to 1.1691, just short of 90 degrees. The euro jumped to the lb balance line (sma55) against the background of a downward correction against the dollar. The pullback amounted to 45 degrees.<\/p><div id=\"inves-3645253455\" 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>The current rate at 11:47 (GMT+3) is 1.1738. In European trading, buyers are trying to continue yesterday&#8217;s upward movement. I decided against making a forecast due to two diverging pin bars on the daily timeframe obscuring the technical picture on the hourly period. As a result, a corridor was formed between 1.1691 and 1.1791. We will go wherever the breakout takes us.<\/p>\n<p>The economic calendar for Europe is empty and all eyes are on the Bank of Canada meeting. The market expects the base rate to increase by 0.25%. The BoC&#8217;s decision will affect the dynamics of the Canadian dollar, so be vigilant if you have open positions on it.<\/p>\n<p>In addition, market participants are paying close attention to Sino-US relations, as well as negotiations between the UK and EU over Brexit, which could result in the resignation of two more representatives of the Conservative Party of Great Britain, The Sun reports.<\/p>\n<p><strong>Source<\/strong>:\u00a0<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/26763_11072018\/\" target=\"_blank\" rel=\"noopener\">EURUSD: the price may remain between 1.1691 and 1.1791 until the end of the day<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Tuesday the 10th\u00a0of July, trading on the euro closed slightly down. During European trading, the euro fell to 1.1691. Buyers managed to win back most of the losses by the close of the day. The downward correction on the dollar index contributed to the price recovery. The market seems [&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-129872","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129872","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=129872"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129872\/revisions"}],"predecessor-version":[{"id":129873,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/129872\/revisions\/129873"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=129872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=129872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=129872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}