{"id":130234,"date":"2018-07-17T07:48:51","date_gmt":"2018-07-17T11:48:51","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=130234"},"modified":"2018-07-17T07:10:31","modified_gmt":"2018-07-17T11:10:31","slug":"forex-market-review-17-07-18","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/07\/forex-market-review-17-07-18\/","title":{"rendered":"Forex market review (17\/07\/18)"},"content":{"rendered":"<div id=\"inves-3790244086\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 17, 2018<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By Veselin Petkov, Alpari<\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p>This morning, the 17<sup>th<\/sup>\u00a0of July, the EURUSD pair is trading at 1.1714 as we await the opening of the European session, which puts the euro slightly up (about 20 pips) over the last 24 hours. I don\u2019t think that this growth over the last 24 hours is part of any kind of purposeful movement, but is rather just a pullback.<\/p>\n<p>Looking at the fundamentals, the following events have the potential to significantly affect the dynamics of major currency pairs today:<\/p>\n<ul class=\"list list_type_disc\">\n<li>11:00 (GMT+3) UK: BoE Governor Carney\u2019s speech \u2013 could have a significant effect on the dynamics of the pound.<\/li>\n<li>11:30 (GMT+3) UK: ILO unemployment rate (May), average earnings excluding bonus (May) \u2013 Unemployment is expected to remain at 4.2%. Average earnings excluding bonuses are expected to rise by 2.5%.<\/li>\n<li>17:00 (GMT+3) USA: Fed\u2019s Powell speech.<\/li>\n<\/ul>\n<p><strong>EURUSD:<\/strong><\/p>\n<p>On the daily timeframe (D1), the EURUSD could potentially form a head and shoulders model:<\/p>\n<p align=\"center\"><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/17.07.18_EURUSD_D1_5b4d9ed6a7a86.png\" alt=\"\" \/><\/p>\n<p>The right shoulder has yet to fully form, however, so I wouldn\u2019t yet open a trade on the basis of this model.<\/p>\n<p>On the 4-hour timeframe (H4), the EURUSD pair is forming a descending triangle:<\/p><div id=\"inves-367208729\" 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 align=\"center\"><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/17.07.18_EURUSD_H4_5b4d9ef6b00bb.png\" alt=\"\" \/><\/p>\n<p>The 5<sup>th<\/sup>\u00a0wave is currently being formed inside this wedge.<\/p>\n<p>An analysis of the D1 and H4 charts tells me that while we currently lack any clear sell signals on the EURUSD pair, the sentiment is certainly bearish, and so pressure on this pair looks set to remain. I reckon we\u2019ll see the pair hit some new lows pretty soon.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">Forex market review (17\/07\/18)<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Veselin Petkov, Alpari This morning, the 17th\u00a0of July, the EURUSD pair is trading at 1.1714 as we await the opening of the European session, which puts the euro slightly up (about 20 pips) over the last 24 hours. I don\u2019t think that this growth over the last 24 hours is part of any kind [&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-130234","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130234","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=130234"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130234\/revisions"}],"predecessor-version":[{"id":130235,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130234\/revisions\/130235"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=130234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=130234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=130234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}