{"id":133480,"date":"2018-09-10T07:59:53","date_gmt":"2018-09-10T11:59:53","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133480"},"modified":"2018-09-10T06:54:05","modified_gmt":"2018-09-10T10:54:05","slug":"eurusd-rebound-from-the-balance-line-likely","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/eurusd-rebound-from-the-balance-line-likely\/","title":{"rendered":"EURUSD: rebound from the balance line likely"},"content":{"rendered":"<div id=\"inves-4148143438\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 10, 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>Over the course of last week, most of the majors lost ground against the US dollar. The Kiwi dollar dropped by 1.29%, the Aussie by 1.25%, the loonie by 0.95%, the euro by 0.42%, the pound by 0.29%, and the Swiss franc by 0.03%.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2018\/08\/w_100918.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. USD dynamics last week.<\/p>\n<p>The single currency dropped on Friday following the release of US employment data. According to the latest report, annual wage growth in August was at its highest since 2009. The dollar surged on the back of expectations of another two interest rate hikes this year.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>11:30 UK: industrial production (Jul), manufacturing production (Jul), total trade balance (Jul), index of services (Jul).<\/li>\n<li>15:00 US: FOMC member Bostic speech.<\/li>\n<li>16:00 UK: NIESR GDP estimate (Aug).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/10.09.18_EURUSD_H1_5b9616620009d.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 2. EURUSD hourly chart.<\/p><div id=\"inves-3300697135\" 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><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>My expectations for last week were proven correct for the most part. The pair dropped 90 degrees from 1.1650. Since the euro dropped after the payrolls report, for today I\u2019m going to look at movement against Friday\u2019s, meaning a recovery for the euro. I\u2019ve made a new intraday prediction for the week. It\u2019s based on hourly cycles and patterns. The next two days are shown on the chart.<\/p>\n<p>The calendar is virtually empty. The centre of attention among traders today will be data from the UK. Keep an eye on the EURGBP cross. The balance line runs through 1.1607. Today, it\u2019s acting as a resistance. By the time the US session opens it will be at 1.1595, which will bolster the 45<sup>th<\/sup>\u00a0degree.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: rebound from the balance line likely<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: Over the course of last week, most of the majors lost ground against the US dollar. The Kiwi dollar dropped by 1.29%, the Aussie by 1.25%, the loonie by 0.95%, the euro by 0.42%, the pound by 0.29%, and the Swiss franc by 0.03%. Fig 1. USD dynamics last week. [&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-133480","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133480","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=133480"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133480\/revisions"}],"predecessor-version":[{"id":133481,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133480\/revisions\/133481"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=133480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=133480"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=133480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}