{"id":140426,"date":"2019-01-21T07:39:23","date_gmt":"2019-01-21T12:39:23","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=140426"},"modified":"2019-01-21T06:41:25","modified_gmt":"2019-01-21T11:41:25","slug":"eurusd-pair-closing-in-on-the-balance-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/01\/eurusd-pair-closing-in-on-the-balance-line\/","title":{"rendered":"EURUSD: pair closing in on the balance line"},"content":{"rendered":"<div id=\"inves-3838190487\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 21, 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>Last week, all the majors lost ground against the US dollar except for the pound. The biggest loser against the greenback was the Kiwi (-1.35%), followed by the Swiss franc (-1.17%), yen (-1.11%), euro (-0.93%), Aussie (-0.77%), and the Loonie (0.01%). The pound, on the other hand, posted a rise of 0.27%.<\/p>\n<p>In Friday\u2019s US session, the EURUSD pair dropped to 1.1353. The euro incurred losses across the board, with the EURGBP cross suffering the most. The euro also came under pressure from the US dollar after a strong report on US industrial production.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul>\n<li>10:00 Germany: PPI (Dec).<\/li>\n<li>14:00 Germany: German Buba monthly report.<\/li>\n<li>Martin Luther King Jr. Day.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/669.png\" alt=\"T\u1ef7 gi\u00e1 EURUSD, khung th\u1eddi gian 1H. Ngu\u1ed3n: TradingView\" data-align=\"center\" data-entity-type=\"file\" data-entity-uuid=\"dfed0a22-6c76-437b-acd4-e7682d60f150\" \/>Fig 1. EURUSD hourly chart.<\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p><div id=\"inves-3809501031\" 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>I was right not to pay attention to the triple bullish divergence. From the upper line of the channel, the euro slumped to 1.1353. The single currency then recovered from the 157<sup>th<\/sup> degree by 22 degrees. This level is doing well at keeping the pair within the current trend. Given that the balance line runs through 1.1386, and the trend line through 1.1390, we could see the pair overreaching. It\u2019s currently rising despite a lack of trading volume, so I\u2019m expecting a drop to 1.1356. I\u2019m counting on seeing the formation of a double base.<\/p>\n<p>The pair may not end up declining. China has offered to help close the US\u2019 trade deficit with them by increasing imports to the tune of 1 trillion USD. The optimism surrounding these trade negotiations between the US and China is good for risky assets, which is bolstering the euro. From a technical standpoint, the euro looks ready for a decline. Market participants are waiting for a trigger to start selling.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: pair closing in on the balance line<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: Last week, all the majors lost ground against the US dollar except for the pound. The biggest loser against the greenback was the Kiwi (-1.35%), followed by the Swiss franc (-1.17%), yen (-1.11%), euro (-0.93%), Aussie (-0.77%), and the Loonie (0.01%). The pound, on the other hand, posted a rise [&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-140426","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140426","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=140426"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140426\/revisions"}],"predecessor-version":[{"id":140427,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140426\/revisions\/140427"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=140426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=140426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=140426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}