{"id":141268,"date":"2019-02-06T07:40:18","date_gmt":"2019-02-06T12:40:18","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=141268"},"modified":"2019-02-06T06:59:12","modified_gmt":"2019-02-06T11:59:12","slug":"eurusd-pair-continues-to-head-south","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/02\/eurusd-pair-continues-to-head-south\/","title":{"rendered":"EURUSD: pair continues to head south"},"content":{"rendered":"<div id=\"inves-2470198702\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">February 6, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By Matthew Anthony, Alpari<\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p><strong><em>Previous:<\/em><\/strong><\/p>\n<p>On Tuesday the 5<sup>th<\/sup> of February, trading on the euro closed down. The pair recommenced its decline as trading opened in Europe, with the drop gathering pace in the US session. By the end of the European session, the euro had dropped to 1.1401 against the dollar despite a disappointing services PMI report in the US.<\/p>\n<p>The pound dropped against the greenback to 1.2925 on the back of weak British PMI data from the services sector, as well as a broadly stronger dollar.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>16:30 Canada: building permits (Dec).<\/li>\n<li>16:30 US: nonfarm productivity (Q4), unit labour costs (Q4), trade balance (Nov).<\/li>\n<li>18:00 Canada: Ivey PMI (Jan).<\/li>\n<li>18:30 US: EIA crude oil stocks change (1 Feb).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_060219_0.png\" alt=\"EURUSD hourly chart\" data-entity-type=\"file\" data-entity-uuid=\"d2465731-bac0-40f7-b9c4-c3fe6d449753\" \/><\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>On Monday, the bears launched an assault on the 45<sup>th<\/sup> degree, and then on the 67<sup>th<\/sup> degree on Tuesday. In Asia, the euro slid to 1.1392. I\u2019m expecting the rebound from 1.1380 (90<sup>th<\/sup> degree) to be small given that the cycles are showing a decline until the 8<sup>th<\/sup> of February, meaning that while there will be corrections, I don\u2019t think it worth looking at long positions until Friday.<\/p><div id=\"inves-2295610383\" 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>Considering the speed of the euro\u2019s decline, my forecast has the euro dropping to the lower line of the A-A channel or 1.1368. If the number of sales increases significantly, the pair may drop as far as 1.1356. Prepare yourselves for the possibility of a sharp drop to 1.1325. In any case, I expect to see the pair drop to this level by Friday.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: pair continues to head south<\/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 5th of February, trading on the euro closed down. The pair recommenced its decline as trading opened in Europe, with the drop gathering pace in the US session. By the end of the European session, the euro had dropped to 1.1401 against the dollar despite a disappointing [&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-141268","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/141268","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=141268"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/141268\/revisions"}],"predecessor-version":[{"id":141269,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/141268\/revisions\/141269"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=141268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=141268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=141268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}