{"id":130292,"date":"2018-07-18T07:15:51","date_gmt":"2018-07-18T11:15:51","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=130292"},"modified":"2018-07-18T06:46:54","modified_gmt":"2018-07-18T10:46:54","slug":"forex-market-review-18-07-18","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/07\/forex-market-review-18-07-18\/","title":{"rendered":"Forex market review (18\/07\/18)"},"content":{"rendered":"<div id=\"inves-2513215985\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 18, 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>Yesterday evening, the US dollar got a boost from Fed Chair Jerome Powell\u2019s speech, causing it to rise. The Fed Chair, citing solid economic growth and improving employment situation, made the case for continuing with the process of tightening monetary policy.<\/p>\n<p>The way I see it, the following economic events could have an impact on currency exchange rates today:<\/p>\n<ul class=\"list list_type_disc\">\n<li>11:30 (GMT+3) UK: CPI (Jun) \u2013 consumer prices are expected to a rise of 2.6% year-on-year.<\/li>\n<li>12:00 (GMT+3) Eurozone: CPI (Jun) \u2013 year-on-year consumer inflation is expected to rise by 2.0%.<\/li>\n<li>17:00 (GMT+3) USA: Fed\u2019s Powell speech.<\/li>\n<li>21:00 (GMT+3) USA: Fed\u2019s beige book.<\/li>\n<\/ul>\n<p><strong>EURUSD:<\/strong><\/p>\n<p>On the 4-hour timeframe (H4), the EURUSD pair is forming the fifth wave inside the wedge (descending triangle):<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/%D0%A4%D0%BE%D1%80%D0%B5%D0%BA%D1%81%2018.07.2018%20%D1%82%D0%B5%D0%BC%D0%B0%201%20%D0%B8%D0%B7%D0%BE%D0%B1%D1%80%D0%B0%D0%B6%D0%B5%D0%BD%D0%B8%D0%B5%201_5b4ee24f19b79_5b4eef3a9b683.png\" alt=\"\" \/><\/p>\n<p>At the time of writing, the EURUSD pair is moving towards the lower line of the wedge, which is located at around 1.1530.<\/p>\n<p>On the hourly timeframe (H1), I believe that there\u2019s potential for the beginning of a downwards trend:<\/p><div id=\"inves-1035933995\" 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><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/%D0%A4%D0%BE%D1%80%D0%B5%D0%BA%D1%81%2018.07.2018%20%D1%82%D0%B5%D0%BC%D0%B0%201%20%D0%B8%D0%B7%D0%BE%D0%B1%D1%80%D0%B0%D0%B6%D0%B5%D0%BD%D0%B8%D0%B5%202_5b4ee2704bada_5b4eef44e601c.png\" alt=\"\" \/><\/p>\n<p>I reckon that barring any unforeseen circumstances, the EURUSD pair could drop as far as 1.1550.<\/p>\n<p>The pair is currently trading at 1.16343; about 80 pips lower than yesterday morning.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">Forex market review (18\/07\/18)<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Veselin Petkov, Alpari Yesterday evening, the US dollar got a boost from Fed Chair Jerome Powell\u2019s speech, causing it to rise. The Fed Chair, citing solid economic growth and improving employment situation, made the case for continuing with the process of tightening monetary policy. The way I see it, the following economic events could [&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-130292","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130292","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=130292"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130292\/revisions"}],"predecessor-version":[{"id":130293,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130292\/revisions\/130293"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=130292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=130292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=130292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}