{"id":139863,"date":"2019-01-08T07:33:46","date_gmt":"2019-01-08T12:33:46","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=139863"},"modified":"2019-01-08T06:51:51","modified_gmt":"2019-01-08T11:51:51","slug":"eurusd-correction-to-take-the-pair-further-south","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/01\/eurusd-correction-to-take-the-pair-further-south\/","title":{"rendered":"EURUSD: correction to take the pair further south"},"content":{"rendered":"<div id=\"inves-1737259136\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 8, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><div>\n<div class=\"reviews-item__header\">\n<div class=\"reviews-item__info s_float_l\">\n<p><strong>By <a href=\"https:\/\/alpari.com\/en\/analytics\/analysts\/anthony\/\">Matthew Anthony, Alpari<\/a><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"reviews-item__content\">\n<p><strong><em>Previous:<\/em><\/strong><\/p>\n<p>On Monday the 7<sup>th<\/sup> of January, trading on the euro closed up. The single currency rose to 1.1483 against the greenback. This was triggered by a general decline on the dollar, which occurred in response to Jerome Powell\u2019s statement that the Fed would halt its rate hike path if it sees the economy slowing down this year.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:45 Switzerland: unemployment rate (Dec).<\/li>\n<li>10:00 Germany: industrial production (Nov).<\/li>\n<li>10:45 France: trade balance (Nov).<\/li>\n<li>11:30 UK: Halifax house prices (Nov).<\/li>\n<li>13:00 Eurozone: consumer confidence (Dec), economic sentiment indicator (Dec), industrial confidence (Dec), business climate (Dec).<\/li>\n<li>16:30 Canada: imports (Nov), exports (Nov).<\/li>\n<li>16:30 US: trade balance (Nov).<\/li>\n<li>18:00 US: JOLTS job openings (Nov).<\/li>\n<li>23:00 US: consumer credit change (Nov).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/08.01.19_EURUSD_H1_5c3456ebaf654.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart.<\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>Trading opened down on Monday. The euro corrected from the 112<sup>th<\/sup> to the 45<sup>th<\/sup> degree. The pair hit a low of 1.1432 in the Asian session. In my forecast, I expect to see a drop to the trend line at 1.1413.<\/p><div id=\"inves-4272077987\" 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>There\u2019s a lot of economic news coming out today, although as far as I can see, there\u2019s nothing important enough to cause any wild fluctuations on the market. Since the hourly stochastic is in the buy zone, I expect to see the rate recover to 1.1465 before dropping. If we look at the technical picture from the daily timeframe and higher, we can expect the rate to rise to 1.18 by mid-March. If conditions are ideal for buyers, the euro will reach this mark by mid-February.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: correction to take the pair further south<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: On Monday the 7th of January, trading on the euro closed up. The single currency rose to 1.1483 against the greenback. This was triggered by a general decline on the dollar, which occurred in response to Jerome Powell\u2019s statement that the Fed would halt its rate hike path if it [&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-139863","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/139863","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=139863"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/139863\/revisions"}],"predecessor-version":[{"id":139864,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/139863\/revisions\/139864"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=139863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=139863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=139863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}