{"id":138074,"date":"2018-11-29T07:22:44","date_gmt":"2018-11-29T12:22:44","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=138074"},"modified":"2018-11-29T06:26:32","modified_gmt":"2018-11-29T11:26:32","slug":"eurusd-bulls-trying-to-hold-the-line-at-around-1-14","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/11\/eurusd-bulls-trying-to-hold-the-line-at-around-1-14\/","title":{"rendered":"EURUSD: bulls trying to hold the line at around 1.14"},"content":{"rendered":"<div id=\"inves-3592335613\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 29, 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>In Wednesday\u2019s US session, the euro jumped sharply against the greenback. The US dollar index collapsed after Fed Chair Jerome Powell\u2019s speech. He said that the key rate is \u201cjust below\u201d the neutral level. This surprised investors given that just in early October, Powell had said that the rate is \u201ca long way\u201d from neutral. His remarks have increased speculation that the rate hike trajectory may now slow down.<\/p>\n<p>According to CME FedWatch, the likelihood of a 25 base point rate hike is 82.7%. The current range of the Federal Funds rate is 2.00 \u2013 2.25%.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>11:55 Germany: unemployment rate (Nov), unemployment change (Nov).<\/li>\n<li>12:30 UK: net lending to individuals (Oct), mortgage approvals (Oct), consumer credit (Oct).<\/li>\n<li>13:00 Eurozone: consumer confidence (Nov), industrial confidence (Nov), business climate (Nov), economic sentiment indicator (Nov).<\/li>\n<li>16:00 Germany: CPI (Nov).<\/li>\n<li>16:30 Canada: current account (Q3).<\/li>\n<li>16:30 US: personal consumption expenditures \u2013 price index (Oct), personal spending (Oct), personal income (Oct), initial jobless claims (23 Nov).<\/li>\n<li>18:00 US: pending home sales (Oct).<\/li>\n<li>22:00 US: FOMC minutes.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/652_5bff9647a2e3d.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-4210871539\" 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>By the end of yesterday\u2019s trading sessions, the euro had gained 100 pips against the dollar to reach 1.1370. After a minor pullback, the bulls pushed further to reach a new high of 1.1392 in today\u2019s Asian session.<\/p>\n<p>The pair has broken out of the downwards channel and stopped at the 112<sup>th<\/sup> degree. The market situation looks contradictory to me. On the one hand, the bulls have opened the way towards 1.1420, while on the other hand, the 112<sup>th<\/sup> degree is sitting at the high from the 26<sup>th<\/sup> of November. Moreover, the 112<sup>th<\/sup> degree is a reversal level, making it a strong resistance. Hourly indicators are also hinting at a correction. We need to keep an eye on 1.1368. If this level doesn\u2019t hold strong, the drop will continue to 1.1350 (blue channel).<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: bulls trying to hold the line at around 1.14<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: In Wednesday\u2019s US session, the euro jumped sharply against the greenback. The US dollar index collapsed after Fed Chair Jerome Powell\u2019s speech. He said that the key rate is \u201cjust below\u201d the neutral level. This surprised investors given that just in early October, Powell had said that the rate is [&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-138074","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/138074","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=138074"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/138074\/revisions"}],"predecessor-version":[{"id":138075,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/138074\/revisions\/138075"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=138074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=138074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=138074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}