{"id":134582,"date":"2018-09-28T07:40:53","date_gmt":"2018-09-28T11:40:53","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=134582"},"modified":"2018-09-28T06:45:06","modified_gmt":"2018-09-28T10:45:06","slug":"eurusd-euro-takes-a-dip-on-italian-budget-concerns","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/09\/eurusd-euro-takes-a-dip-on-italian-budget-concerns\/","title":{"rendered":"EURUSD: euro takes a dip on Italian budget concerns"},"content":{"rendered":"<div id=\"inves-3259063255\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 28, 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>Previous:<\/strong><\/p>\n<p>On Thursday the 27<sup>th<\/sup>\u00a0of September, trading on the euro closed down. The euro fell significantly against the dollar amid controversy in the Italian government over the budget deficit. EURUSD fell from 1.1757 to 1.1639 (-118 pips).<\/p>\n<p><strong>US data:<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>Pending home sales (Aug): -1.8% (forecast: -0.2%, previous: -0.08%).<\/li>\n<li>GDP annualized (Q2): 4.2% (forecast: 4.2%, previous: 4.2%).<\/li>\n<li>Initial jobless claims (Sep 21): 214 thou. (forecast: 210 thou., previous: 202 thou.).<\/li>\n<li>Durable goods orders (Aug): 4.5% (forecast: 1.8%, previous: -1.2%).<\/li>\n<\/ul>\n<p><strong>Day&#8217;s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>10:55 Germany: unemployment change (Sep).<\/li>\n<li>11:30 UK: current account (Q2), GDP (QoQ) (Q2), total business investment (QoQ) (Q2).<\/li>\n<li>12:00 Eurozone: CPI (YoY) (Sep).<\/li>\n<li>15:30 Canada: GDP (MoM) (Jul), industrial product price (MoM) (Aug).<\/li>\n<li>15:30 US: personal spending (Aug), personal income (MoM) (Aug).<\/li>\n<li>16:45 US: Chicago Purchasing Managers&#8217; Index (Sep).<\/li>\n<li>23:00 US: Baker Hughes US oil rig count.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/eur_280918-en_5badd93f3a4e8.png\" alt=\"\" \/><\/p>\n<p>Fig 1. EURUSD hourly chart.<\/p>\n<p><strong>Current situation:<\/strong><\/p><div id=\"inves-3332834593\" 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>On Friday during the Asian session, buyers tried to partially win back losses against the background of an overall weakening of the dollar as part of the corrections. However, the attempt proved unsuccessful, with sellers shifting the low to 1.1632.<\/p>\n<p>The dollar remains strong after the FOMC meeting and signals from the Fed on a further tightening with regard to monetary policy for 2019. According to the forecast, I expect the euro to fall to 1.1618, despite the fact that sellers have opened the way to 1.1595 (D3). Here I relied on hourly cycles. Although the price is already at 1.1628. If 157th degree doesn&#8217;t hold, then the fall will continue to 1.1550. The euro will close down against the dollar just as it did yesterday, and on Monday I&#8217;ll compare this movement against Friday.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: euro takes a dip on Italian budget concerns\u00a0<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: On Thursday the 27th\u00a0of September, trading on the euro closed down. The euro fell significantly against the dollar amid controversy in the Italian government over the budget deficit. EURUSD fell from 1.1757 to 1.1639 (-118 pips). US data: Pending home sales (Aug): -1.8% (forecast: -0.2%, previous: -0.08%). GDP annualized (Q2): [&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-134582","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/134582","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=134582"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/134582\/revisions"}],"predecessor-version":[{"id":134583,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/134582\/revisions\/134583"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=134582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=134582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=134582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}