{"id":130440,"date":"2018-07-20T06:58:47","date_gmt":"2018-07-20T10:58:47","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=130440"},"modified":"2018-07-20T06:17:45","modified_gmt":"2018-07-20T10:17:45","slug":"forex-market-review-20-07-18","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/07\/forex-market-review-20-07-18\/","title":{"rendered":"Forex market review (20\/07\/18)"},"content":{"rendered":"<div id=\"inves-4072151327\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 20, 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, US President Donald Trump took aim at the Federal Reserve regarding its monetary policy. Trump revealed that he wasn\u2019t thrilled with the pace of interest rate hikes as it may hinder the country\u2019s economic growth. The Fed has already raised interest rates twice this year, with the key rate currently at 1.75 \u2013 2%. The regulator is expected to raise rates again once or twice this year.<\/p>\n<p>Today\u2019s European and US sessions will pass without any major statistical releases. CAD traders should look out for Canadian retail sales data for May, as well as inflation data for June. These reports will both be published at 15:30 (GMT+3) today. I think that these releases have the potential to cause some serious intraday volatility on the Canadian dollar.<\/p>\n<p><strong>EURUSD:<\/strong><\/p>\n<p>Over the last 24 hours, the EURUSD pair has risen by around 25 pips; from 1.1641 to 1.1666. Although the euro dropped to 1.1575 against the dollar ahead of yesterday\u2019s US session, it managed to recover its losses by the evening and return to 1.1641 on the back on Trump\u2019s remarks.<\/p>\n<p>Moving on to the chart, we can see that the potential downtrend on the EURUSD hourly timeframe is still alive and well:<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/20.07.18_EURUSD_H1_5b5192911a062.png\" alt=\"\" \/><\/p>\n<p>We can see on the chart how the euro rebounded from the resistance line towards the trend line following Trump\u2019s speech. I reckon that the EURUSD pair will remain within the downwards channel for the rest of the day.<\/p><div id=\"inves-2488086065\" 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>I\u2019d refrain from trading the EURUSD pair on the hourly timeframe today, because despite the downtrend, there\u2019s no clear sell signal. What we\u2019re currently seeing on the hourly timeframe is a correction.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">Forex market review (20\/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 Yesterday evening, US President Donald Trump took aim at the Federal Reserve regarding its monetary policy. Trump revealed that he wasn\u2019t thrilled with the pace of interest rate hikes as it may hinder the country\u2019s economic growth. The Fed has already raised interest rates twice this year, with the key rate [&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-130440","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130440","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=130440"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130440\/revisions"}],"predecessor-version":[{"id":130441,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130440\/revisions\/130441"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=130440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=130440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=130440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}