{"id":130714,"date":"2018-07-24T07:39:02","date_gmt":"2018-07-24T11:39:02","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=130714"},"modified":"2018-07-24T06:40:41","modified_gmt":"2018-07-24T10:40:41","slug":"overview-of-the-forex-market-24-07-18","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/07\/overview-of-the-forex-market-24-07-18\/","title":{"rendered":"Overview of the Forex market (24\/07\/18)"},"content":{"rendered":"<div id=\"inves-3715126944\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 24, 2018<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By\u00a0Veselin Petkov, Alpari<\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p>Over the last 24 hours, the EURUSD pair has seen a 40-pip correction; from 1.1717 to 1.1677. I&#8217;d like to note that yesterday there was no important macroeconomic data, nor any important economic events that could significantly affect major currency pairs. I&#8217;m assuming that financial participants will take a wait-and-see position before the ECB monetary policy meeting on Thursday, the 26<sup>th<\/sup>\u00a0of July. Therefore, I do not expect any radical changes in major currency pairs in the next two days.<\/p>\n<p>Today, very useful Forex trading indicators will be published for the eurozone, UK, and US.<\/p>\n<ul class=\"list list_type_disc\">\n<li>11:00 Eurozone: Markit manufacturing PMI (Jul), Markit services PMI (Jul).<\/li>\n<li>13:00 UK: CBI industrial trends survey &#8211; orders (MoM) (Jul).<\/li>\n<li>16:45 US: Markit manufacturing PMI (Jul), Markit services (Jul).<\/li>\n<\/ul>\n<p><strong>EURUSD:<\/strong><\/p>\n<p>On the hourly timeframe (H1), the EURUSD pair is attempting to return to the potential downwards trend.<\/p>\n<p align=\"center\"><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/24.07.18_EURUSD_H1_5b56d05a60a47.png\" alt=\"\" \/><\/p>\n<p>I believe sentiment on the EURUSD pair is bearish (H1), and although it has weakened, it still persists. This is evidenced by the fact that the last high (&#8220;Max 2&#8221; on the chart) could not reach the previous high (&#8220;Max 1&#8221; on the chart). Therefore, I reckon that the pressure on the euro from the dollar will continue. Even if the euro suddently starts to rise against the dollar, I believe that the solid level of resistance for the EURUSD pair will be the 1.1824 mark, as I mentioned yesterday.<\/p>\n<p>Source:\u00a0<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/26967_24072018\/\" target=\"_blank\" rel=\"noopener\">Overview of the Forex market (24\/07\/18)<\/a><\/p><div id=\"inves-3969210938\" 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>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Veselin Petkov, Alpari Over the last 24 hours, the EURUSD pair has seen a 40-pip correction; from 1.1717 to 1.1677. I&#8217;d like to note that yesterday there was no important macroeconomic data, nor any important economic events that could significantly affect major currency pairs. I&#8217;m assuming that financial participants will take a wait-and-see position before [&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-130714","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130714","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=130714"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130714\/revisions"}],"predecessor-version":[{"id":130715,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/130714\/revisions\/130715"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=130714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=130714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=130714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}