{"id":139952,"date":"2019-01-10T07:45:10","date_gmt":"2019-01-10T12:45:10","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=139952"},"modified":"2019-01-10T07:05:40","modified_gmt":"2019-01-10T12:05:40","slug":"eurusd-decline-from-the-upper-line-of-the-channel-expected","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/01\/eurusd-decline-from-the-upper-line-of-the-channel-expected\/","title":{"rendered":"EURUSD: decline from the upper line of the channel expected"},"content":{"rendered":"<div id=\"inves-4265227474\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 10, 2019<\/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 Wednesday the 9<sup>th<\/sup> of January, trading on the euro closed up. The single currency rose on the back of a broadly weaker dollar. The US dollar index fell on account of remarks made by an FOMC member. Charles Evans, head of the Chicago Fed, hinted that the regulator would take its time with further rate hikes given the current uncertainty regarding the US economy. The FOMC\u2019s minutes indicate hesitance among committee members to push interest rate up any higher for the time being. The EURUSD pair rose to 1.1558 after their publication.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>10:45 France: industrial output (Nov).<\/li>\n<li>15:30 Eurozone: ECB monetary policy meeting accounts.<\/li>\n<li>16:30 Canada: building permits (Nov), new housing price index (Nov).<\/li>\n<li>16:30 US: initial jobless claims (4 Jan).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/cms\/images\/10.01.19_EURUSD_H1_5c36fa4245f81.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart.<\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>In today\u2019s Asian session, the euro climbed to 1.1570. The rate has been moving upwards for 12 hours, hugging the upper boundary of the upwards channel. Despite yesterday\u2019s growth on the pair, I see the rate dropping to 1.15 via a triple top. There\u2019s nothing important from today\u2019s events calendar. It looks like there\u2019s nothing stopping the pair from correcting downwards to the 45 \u2013 67 degree range. I can\u2019t see the rate dropping any further than that for the time being, since the weekly cycles show the euro strengthening during the first half of this year. The euro is currently being bolstered by the crosses, which are the only thing saving it from decline.<\/p><div id=\"inves-3085877234\" 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: decline from the upper line of the channel expected<\/a>&#8220;<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: On Wednesday the 9th of January, trading on the euro closed up. The single currency rose on the back of a broadly weaker dollar. The US dollar index fell on account of remarks made by an FOMC member. Charles Evans, head of the Chicago Fed, hinted that the regulator would [&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-139952","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/139952","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=139952"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/139952\/revisions"}],"predecessor-version":[{"id":139954,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/139952\/revisions\/139954"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=139952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=139952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=139952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}