{"id":131921,"date":"2018-08-14T07:34:32","date_gmt":"2018-08-14T11:34:32","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=131921"},"modified":"2018-08-14T06:36:41","modified_gmt":"2018-08-14T10:36:41","slug":"eurusd-correction-to-the-balance-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/eurusd-correction-to-the-balance-line\/","title":{"rendered":"EURUSD: correction to the balance line"},"content":{"rendered":"<div id=\"inves-1203345414\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 14, 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 Monday the 13<sup>th<\/sup>\u00a0of August, trading on the euro closed slightly up. Markets took a breather after a sharp drop which started on Friday due to increased tensions between The US and Turkey as well as the fact that Trump ordered the doubling of tariffs on Turkish metal.<\/p>\n<p>The Turkish crisis first started affecting developing markets and has gone on from there to impact the developed world. The US dollar and Japanese yen have been the safe haven assets of choice. The EURUSD pair dropped to 1.1365. In Monday\u2019s European session, the EURUSD rate rose to 1.1433.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:00 Germany: GDP (Q2), CPI (Jul).<\/li>\n<li>09:45 France: CPI (Jul).<\/li>\n<li>10:15 Switzerland: producer and import prices (Jul).<\/li>\n<li>11:30 UK: claimant count change (Jul), ILO unemployment rate (Jun), average earnings (Jun).<\/li>\n<li>12:00 Eurozone: GDP (Q2), industrial production (Jun), ZEW survey \u2013 economic sentiment (Aug).<\/li>\n<li>12:00 Germany: ZEW survey \u2013 economic sentiment (Aug).<\/li>\n<li>15:30 US: import price index (Jul).<\/li>\n<li>23:30 US: API weekly crude oil stock.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/14.08.18_EURUSD_H1_5b7279a479023.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView.<\/p>\n<p><strong>Current situation:<\/strong><\/p><div id=\"inves-2836663605\" 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>Since the USDTRY pair is consolidating at around 6.90 USD, the EURUSD pair recovered from the 225<sup>th<\/sup>degree to 1.1433 as part of a correction. The rate returned to the LB balance line (sma 55). While the market is currently in equilibrium, prices may deviate from this line. The lira isn\u2019t getting any stronger, so the correction could come to an end as the European session gets underway. Stay alert.<\/p>\n<p>Trading on the dollar is mixed in today\u2019s Asian session. The euro crosses are in negative territory. Considering that an important support has been broken on the weekly timeframe, after a pullback, the first target levels for sellers will be 1.1380 (45 degrees) and 1.1351 (67 degrees).<\/p>\n<p>At 12:00, Eurozone GDP and industrial production figures will be released. At the same time, a ZEW survey on economic sentiment for both Germany and the Eurozone will be published. These are important indicators, so expect a surge in volatility around this time on all pairs involving the euro. If volatility does rise, this should last for about 30 \u2013 40 minutes.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: correction to the balance line<\/a>&#8220;<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Monday the 13th\u00a0of August, trading on the euro closed slightly up. Markets took a breather after a sharp drop which started on Friday due to increased tensions between The US and Turkey as well as the fact that Trump ordered the doubling of tariffs on Turkish metal. The Turkish [&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-131921","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131921","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=131921"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131921\/revisions"}],"predecessor-version":[{"id":131923,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/131921\/revisions\/131923"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=131921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=131921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=131921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}