{"id":133960,"date":"2018-09-19T07:50:15","date_gmt":"2018-09-19T11:50:15","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=133960"},"modified":"2018-09-19T06:51:17","modified_gmt":"2018-09-19T10:51:17","slug":"eurusd-pair-still-trading-within-fridays-range","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/eurusd-pair-still-trading-within-fridays-range\/","title":{"rendered":"EURUSD: pair still trading within Friday\u2019s range"},"content":{"rendered":"<div id=\"inves-3974710280\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 19, 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 18<sup>th<\/sup>\u00a0of September, trading on the euro closed down. Volatility was high throughout all the trading sessions. In the first half of the day, the euro rose to 1.1710. It then dropped to 1.1652 in the US session on the back of a rise in US10Y bond yields to 3.06%. Demand for the US dollar increased after China announced that it would be bringing in new trade tariffs from the 24<sup>th<\/sup>\u00a0of September on more than 5,200 US goods worth 60bn USD.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>11:00 Eurozone: current account (Jul).<\/li>\n<li>11:30 UK: CPI (Aug), retail price index (Aug), PPI \u2013 output (Aug), PPI \u2013 input (Aug).<\/li>\n<li>12:00 Eurozone: construction output (Jul).<\/li>\n<li>15:30 US: building permits (Aug), housing starts (Aug), current account (Q2).<\/li>\n<li>16:00 Eurozone: ECB President Mario Draghi\u2019s speech.<\/li>\n<li>17:30 EIA crude oil stocks change (14 Sep).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/19.09.18_EURUSD_H1_5ba1f51e3728d.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 euro revisited last week\u2019s high, but buyers failed to break through as the news from China pushed them back to the LB balance line.<\/p><div id=\"inves-3944187736\" 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>Last week\u2019s high was revisited ahead of time. If bulls revisit it again, there\u2019s an increased risk of breaking 1.1725. Demand for the euro could increase on expectations that the Fed may not raise interest rates in December due to the trade war with China.<\/p>\n<p>From a technical standpoint, the pair is ready to decline. I\u2019ve considered various patterns that fit the current situation. Some of them suggest that 1.1652 will be revisited. My question is what will traders react to today?<\/p>\n<p>Today I expect to see the euro recover to 1.1766. It\u2019s worth keeping an eye on British data. The pound could act as a catalyst for some of the major pairs in today\u2019s European session. If the bulls return to 1.1740, I expect a rebound from there. It\u2019s too early for a breakout there.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: pair still trading within Friday\u2019s range<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Tuesday the 18th\u00a0of September, trading on the euro closed down. Volatility was high throughout all the trading sessions. In the first half of the day, the euro rose to 1.1710. It then dropped to 1.1652 in the US session on the back of a rise in US10Y bond yields [&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-133960","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133960","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=133960"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133960\/revisions"}],"predecessor-version":[{"id":133961,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/133960\/revisions\/133961"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=133960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=133960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=133960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}