{"id":137174,"date":"2018-11-14T07:22:14","date_gmt":"2018-11-14T12:22:14","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=137174"},"modified":"2018-11-14T06:42:03","modified_gmt":"2018-11-14T11:42:03","slug":"eurusd-correction-on-the-euro-following-the-pound","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/11\/eurusd-correction-on-the-euro-following-the-pound\/","title":{"rendered":"EURUSD: correction on the euro following the pound"},"content":{"rendered":"<div id=\"inves-3369330119\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 14, 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 Tuesday the 13<sup>th<\/sup> of November, trading on the EURUSD pair closed down. The euro rose against the dollar on the back of the pound\u2019s recovery in the wake of further developments on Brexit. This led to a recovery for other majors, while exerting pressure on the greenback from all sides.<\/p>\n<p>Irish news outlet RTE reported that an agreement has been reached on the Irish border. There are rumours circulating that the British government will sign a Brexit deal today. The euro jumped to 1.1294, rising further to 1.1321 in Asia.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>12:30 UK: CPI (Oct), retail price index (Oct), PPI &#8211; input (Oct), PPI \u2013 output (Oct).<\/li>\n<li>13:00 Eurozone: GDP (Q3), industrial production (Sep).<\/li>\n<li>16:30 US: CPI (Oct).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/641_5bebcf3b642d5.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart.<\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p><div id=\"inves-163218278\" 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>My predictions were blown out of the water by yesterday\u2019s news. The bears encountered resistance at 1.1241. On the back of the rising pound, the bulls had no trouble returning to the balance line. This growth was to be expected as a correction was overdue. I was expecting it to happen after making new lows, in which case we could have expected a recovery to 1.1365.<\/p>\n<p>Today we should find out whether or not the Italian government will send the European Commission a new budget. In my forecast, I\u2019m expecting a drop to the balance line or the 45<sup>th<\/sup> degree. Since the market is currently at the mercy of geopolitics, I don\u2019t have any predictions for the US session. If Italy doesn\u2019t put forward a new plan, they could have sanctions imposed on them. Or, they could just add some slight revisions to their current plan. If the pair drops to the 45<sup>th<\/sup> degree in line with my prediction, I shall expect a further drop to the 67<sup>th<\/sup> degree at 1.1241. Sellers aren\u2019t going to simply allow the pair to rise.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: correction on the euro following the pound<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: On Tuesday the 13th of November, trading on the EURUSD pair closed down. The euro rose against the dollar on the back of the pound\u2019s recovery in the wake of further developments on Brexit. This led to a recovery for other majors, while exerting pressure on the greenback from all [&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-137174","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/137174","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=137174"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/137174\/revisions"}],"predecessor-version":[{"id":137175,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/137174\/revisions\/137175"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=137174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=137174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=137174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}