{"id":134038,"date":"2018-09-20T07:40:21","date_gmt":"2018-09-20T11:40:21","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=134038"},"modified":"2018-09-20T06:41:23","modified_gmt":"2018-09-20T10:41:23","slug":"eurusd-pair-ready-to-exit-the-consolidation-range","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/eurusd-pair-ready-to-exit-the-consolidation-range\/","title":{"rendered":"EURUSD: pair ready to exit the consolidation range"},"content":{"rendered":"<div id=\"inves-490773151\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 20, 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 19<sup>th<\/sup>\u00a0of September, trading on the euro closed slightly up. Throughout the day, the single currency lacked any pronounced direction. The main drivers behind yesterday\u2019s movements came from news about Brexit, the US-China trade war, and delays to the NAFTA deal. The currency pair spent the day trading within a range of 1.1662 \u2013 1.1715.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>10:30 Switzerland: SNB interest rate decision.<\/li>\n<li>11:30 UK: retail sales (Aug).<\/li>\n<li>15:30 US: initial jobless claims (14 Sep), Philadelphia Fed manufacturing survey (Sep).<\/li>\n<li>17:00 Eurozone: consumer confidence (Sep).<\/li>\n<li>17:00 US: existing home sales (Aug).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/20.09.18_EURUSD_H1_5ba344821ebff.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 EURUSD pair is trading \u201cwith deviations\u201d, but is trying to stick to my weekly forecast. I was expecting to see moderate growth to 1.1722 before Friday, and this price level was reached on Tuesday.<\/p><div id=\"inves-2421426032\" 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>The Kiwi dollar surged after GDP data for Q2 showed the New Zealand economy growing at its fastest pace in 2 years.<\/p>\n<p>According to my weekly forecast, we should currently be at 1.1722. At the time of writing, the euro is trading at 1.1683. I reckon that ahead of a decline, it would be good to see a pullback to 1.1704 in order to take up a short position. The wave structure of the emerging formation from 1.1722 (14<sup>th<\/sup>\u00a0Sep) points to a decline for the euro. There\u2019s no need to rush to open a short position at 1.1704, as the rate could rise as far as 1.1720.<\/p>\n<p>In terms of today\u2019s news, it\u2019s worth keeping an eye on British retail sales data.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: pair ready to exit the consolidation range<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Wednesday the 19th\u00a0of September, trading on the euro closed slightly up. Throughout the day, the single currency lacked any pronounced direction. The main drivers behind yesterday\u2019s movements came from news about Brexit, the US-China trade war, and delays to the NAFTA deal. The currency pair spent the day trading [&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-134038","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/134038","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=134038"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/134038\/revisions"}],"predecessor-version":[{"id":134039,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/134038\/revisions\/134039"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=134038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=134038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=134038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}