{"id":133581,"date":"2018-09-12T07:30:11","date_gmt":"2018-09-12T11:30:11","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133581"},"modified":"2018-09-12T06:46:25","modified_gmt":"2018-09-12T10:46:25","slug":"eurusd-the-sideways-trend-continues","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/eurusd-the-sideways-trend-continues\/","title":{"rendered":"EURUSD: the sideways trend continues"},"content":{"rendered":"<div id=\"inves-496003069\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 12, 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 Tuesday the 11<sup>th<\/sup>\u00a0of September, trading on the euro closed slightly up against the dollar. The pair initially rose to 1.1644 before dropping to 1.1565. As I see it, these fluctuations were more the result of technical factors than fundamentals. I reckon that market participants are looking to gain a foothold somewhere ahead of tomorrow\u2019s ECB meeting.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>12:00 Eurozone: employment change (Q2), industrial production (Jul).<\/li>\n<li>14:20 US: OPEC monthly report.<\/li>\n<li>15:30 US: PPI (Aug).<\/li>\n<li>17:30 US: EIA crude oil stocks change (7 Sep).<\/li>\n<li>21:00 US: Fed\u2019s Beige Book.<\/li>\n<\/ul>\n<p align=\"center\"><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/eur_120918_5b98bd49bd86a.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart.<\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>At the time of writing, the single currency is trading at 1.1584 against the greenback. The economic calendar is virtually empty today. As such, traders will continue to prepare for Mario Draghi\u2019s press conference. A lot of people will want to get out of their positions ahead of his speech.<\/p><div id=\"inves-2156695366\" 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>In today\u2019s Asian session, the euro has lost a little bit of ground against the dollar. The AO indicator is in neutral territory, while the stochastic is in the buy zone. From a technical standpoint, the euro looks set to rise over the next 5 &#8211; 6 hours. As part of my weekly forecast, I expect to see the pair recover to around 1.1620 \u2013 1.1650. I haven\u2019t adjusted my forecast on the chart, but let\u2019s wait and see how Thursday and Friday pan out.<\/p>\n<p>The euro crosses provide a mixed picture. The euro is trading up on some of them, and down on others. Under these conditions, the euro could revisit the 67<sup>th<\/sup>\u00a0degree at 1.1563.<\/p>\n<p>The majors are all trading down against the US dollar, except for the yen, which is enjoying increased demand. I think this is a result of a reduced appetite for risk among market participants. This could be either down to expectations of further interest rate hikes in the US, or increased trade tensions between the US and China.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: the sideways trend continues<\/a>&#8220;<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Tuesday the 11th\u00a0of September, trading on the euro closed slightly up against the dollar. The pair initially rose to 1.1644 before dropping to 1.1565. As I see it, these fluctuations were more the result of technical factors than fundamentals. I reckon that market participants are looking to gain a [&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-133581","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133581","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=133581"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133581\/revisions"}],"predecessor-version":[{"id":133582,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133581\/revisions\/133582"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=133581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=133581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=133581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}