{"id":135947,"date":"2018-10-23T07:35:50","date_gmt":"2018-10-23T11:35:50","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=135947"},"modified":"2018-10-23T06:43:44","modified_gmt":"2018-10-23T10:43:44","slug":"eurusd-euro-struggling-to-find-a-balance-point-due-to-uncertainty-over-the-italian-budget","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/10\/eurusd-euro-struggling-to-find-a-balance-point-due-to-uncertainty-over-the-italian-budget\/","title":{"rendered":"EURUSD: euro struggling to find a balance point due to uncertainty over the Italian budget"},"content":{"rendered":"<div id=\"inves-577366965\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 23, 2018<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <a href=\"https:\/\/alpari.com\/en\/analytics\/analysts\/anthony\/\">Matthew Anthony, Alpari<\/a><\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p><strong><em>Previous:<\/em><\/strong><\/p>\n<p>On Monday, trading on the single currency closed down. As trading got underway in Europe, buyers attempted to gain a foothold above 1.1550 on the back of an increased appetite for risk. Demand for the euro rose against the backdrop of rising Chinese stocks and the EURJPY cross. After hitting a session high, the euro slumped to 1.1456 as fears over Brexit negotiations and the Italian budget gripped the market. Italian 10-year bond yields once again rose above the 3.5% mark.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:00 Germany: PPI (Sep).<\/li>\n<li>13:00 UK: CBI industrial trends survey \u2013 orders (Oct).<\/li>\n<li>13:30 UK: MPC member Haldane speech.<\/li>\n<li>17:00 Eurozone: consumer confidence (Oct).<\/li>\n<li>17:00 US: Richmond Fed manufacturing index (Oct).<\/li>\n<li>18:20 UK: BoE Governor Carney\u2019s speech.<\/li>\n<li>20:30 US: Fed\u2019s Bostic speech.<\/li>\n<li>23:30 US: API weekly crude oil stock (19 Oct).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/614_5bcec61953263.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart.<\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>Yesterday turned out exactly as I expected. We got a correction on the euro from 1.1550 to 1.1456. The drop came to an end at around the 67<sup>th<\/sup>\u00a0degree. The bears tested this level at the opening of the European session. I see markets behaving in a similar way to yesterday, when the euro made a hew high before dropping. The fundamentals haven\u2019t changed, but something tells me that the euro is going to rise from 1.1440 to around 1.1500-1.1508 (high probability of mirroring the growth from 1.1433 to 1.1550). If we see some sharp growth, I won\u2019t rule out a rise to 1.1523.<\/p><div id=\"inves-3940302494\" 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<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: euro struggling to find a balance point due to uncertainty over the Italian budget<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: On Monday, trading on the single currency closed down. As trading got underway in Europe, buyers attempted to gain a foothold above 1.1550 on the back of an increased appetite for risk. Demand for the euro rose against the backdrop of rising Chinese stocks and the EURJPY cross. After hitting [&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-135947","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/135947","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=135947"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/135947\/revisions"}],"predecessor-version":[{"id":135948,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/135947\/revisions\/135948"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=135947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=135947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=135947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}