{"id":133908,"date":"2018-09-18T07:45:04","date_gmt":"2018-09-18T11:45:04","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133908"},"modified":"2018-09-18T06:54:01","modified_gmt":"2018-09-18T10:54:01","slug":"eurusd-euro-bulls-ready-to-test-the-1-1722-resistance","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/eurusd-euro-bulls-ready-to-test-the-1-1722-resistance\/","title":{"rendered":"EURUSD: euro bulls ready to test the 1.1722 resistance"},"content":{"rendered":"<div id=\"inves-3927562954\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 18, 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 Monday the 17<sup>th<\/sup>\u00a0of September, trading on the euro closed up. The rate recovered to 1.1669 (67 degrees). I reckon that the pair\u2019s growth was triggered by the pound, which rose to 1.3164 against the greenback. The pound got some support following reports that progress is being made in the Irish border talks.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>15:30 Canada: manufacturing shipments (Jul).<\/li>\n<li>17:00 US: NAHB housing market index (Sep).<\/li>\n<li>23:00 US: net long-term TIC flows (Jul).<\/li>\n<li>23:30 US: API weekly crude oil stocks (14 Sep).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/18.09.18_EURUSD_H1_5ba0a37350b78.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart.<\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>The rate jumped by 67 degrees. Monday moved against Friday. Since a rebound from the trend line did not occur, I reckon that the pair is following my forecast from the 4-hour timeframe. I haven\u2019t removed my hourly forecast from the chart because of the ongoing trade wars. I\u2019ve also included an intraday forecast for Tuesday, so I hope this doesn\u2019t confuse anyone.<\/p><div id=\"inves-2021722315\" 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 Asia, the euro bulls have revisited yesterday\u2019s high (1.1665). The pair is currently trading at 1.1716. The economic calendar is pretty bare, so after yesterday\u2019s session rally, I concluded that today we should see a correction to 1.1662. This is a necessary, but insufficient for my weekly scenario to work out. It\u2019s important that the rate doesn\u2019t drop too far, or it could easily turn into my scenario from the hourly timeframe. Let\u2019s wait and see what kind of comments come out of China today in response to the proposed new tariffs. There\u2019s a resistance at 1.1722, beyond which the road is open to 1.1740.<\/p>\n<p>There\u2019s an EU leaders\u2019 summit taking place this week, where negotiations with the UK will continue. These talks will be important for the pound. If there isn\u2019t any negative news, the pound won\u2019t drop, and this shouldn\u2019t have any negative effects on the euro.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: euro bulls ready to test the 1.1722 resistance<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Monday the 17th\u00a0of September, trading on the euro closed up. The rate recovered to 1.1669 (67 degrees). I reckon that the pair\u2019s growth was triggered by the pound, which rose to 1.3164 against the greenback. The pound got some support following reports that progress is being made in the [&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-133908","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133908","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=133908"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133908\/revisions"}],"predecessor-version":[{"id":133909,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133908\/revisions\/133909"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=133908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=133908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=133908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}