{"id":133283,"date":"2018-09-06T07:10:11","date_gmt":"2018-09-06T11:10:11","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133283"},"modified":"2018-09-06T06:37:08","modified_gmt":"2018-09-06T10:37:08","slug":"eurusd-expecting-some-moderate-downwards-movement","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/eurusd-expecting-some-moderate-downwards-movement\/","title":{"rendered":"EURUSD: expecting some moderate downwards movement"},"content":{"rendered":"<div id=\"inves-978183701\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 6, 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><em>Previous:<\/em><\/strong><\/p>\n<p>On Wednesday the 5<sup>th<\/sup>\u00a0of September, trading on the euro closed up. Market volatility was high during both the European and US sessions. At the beginning of the European session, the single currency dropped against the dollar from 1.1608 to 1.1543. In the US session, the euro bulls pushed the session high up from 1.1608 to 1.1640.<\/p>\n<p>The greenback came under pressure from a rising pound, which occurred on the back of a Bloomberg report that the UK and Germany have decided to give up certain demands, which should make it easier for the sides to reach a deal. This unexpected piece of news fits in with my market expectations, although I haven\u2019t accounted for volatility.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:00 Germany: factory orders (Jul).<\/li>\n<li>15:15 US: ADP employment change (Aug).<\/li>\n<li>15:30 Canada: building permits (Jul).<\/li>\n<li>15:30 US: nonfarm productivity (Q2), unit labour costs (Q2), initial jobless claims (31 Aug).<\/li>\n<li>15:45 Eurozone: ECB&#8217;s Lautenschl\u00e4ger Speech.<\/li>\n<li>16:45 US: Markit services PMI (Aug).<\/li>\n<li>17:00 US: ISM non-manufacturing PMI (Aug), factory orders (Jul).<\/li>\n<li>17:30 US: EIA crude oil stocks change (31 Aug), FOMC member Williams speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/06.09.18_EURUSD_H1_5b90cef14f8b0.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart.<\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p><div id=\"inves-1584434753\" 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>Now let\u2019s look at the hourly chart. While the pair has deviated from my weekly projection, I haven\u2019t removed it from the chart because the rate has now returned to its projected level on the hourly cycles. I\u2019ve double-checked the cycles and nothing has changed. The pair just strayed from the weekly projection for a bit.<\/p>\n<p>Given yesterday\u2019s pricing model, I\u2019m prepared to entertain the possibility of a double top formation, although the general technical picture suggests a jump to the 67<sup>th<\/sup>\u00a0degree. 1.1605 will act as a support today. The market has been swinging for the last few days, so don\u2019t expect volatility to subside and be ready to see some full retracements of previous movements. I don\u2019t really have any trading ideas to apply to my forecast. I think that today, everyone will be preparing for tomorrow\u2019s nonfarm payrolls report.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: expecting some moderate downwards movement<\/a>&#8220;<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Wednesday the 5th\u00a0of September, trading on the euro closed up. Market volatility was high during both the European and US sessions. At the beginning of the European session, the single currency dropped against the dollar from 1.1608 to 1.1543. In the US session, the euro bulls pushed the session [&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-133283","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133283","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=133283"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133283\/revisions"}],"predecessor-version":[{"id":133284,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133283\/revisions\/133284"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=133283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=133283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=133283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}