{"id":143481,"date":"2019-03-12T07:24:57","date_gmt":"2019-03-12T11:24:57","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=143481"},"modified":"2019-03-12T06:26:02","modified_gmt":"2019-03-12T10:26:02","slug":"eurusd-markets-await-the-results-of-the-brexit-vote","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/03\/eurusd-markets-await-the-results-of-the-brexit-vote\/","title":{"rendered":"EURUSD: markets await the results of the Brexit vote"},"content":{"rendered":"<div id=\"inves-1305048412\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 12, 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 Monday the 11<sup>th<\/sup> of March, trading on the EURUSD pair closed up. In the US session, the euro rose to 1.1274 against the greenback. Traders has their eyes on the pound which surged by 300 pips to reach 1.3288 against the dollar ahead of Tuesday\u2019s Brexit vote. The pair bounced from the reversal zone after reaching the U4 line, which is a rare occurrence on the hourly timeframe.<\/p>\n<p>Markets expect the British parliament to vote down Theresa May\u2019s Brexit deal, and then to vote to extend Article 50.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:30 Australia: RBA\u2019s Debelle speech.<\/li>\n<li>12:30 UK: GDP (Jan), industrial production (Jan), manufacturing production (Jan), total trade balance (Jan).<\/li>\n<li>13:45 Eurozone: ECB\u2019s Lautenschl\u00e4ger speech.<\/li>\n<li>15:30 US: CPI (Feb).<\/li>\n<li>15:45 US: Fed\u2019s Brainard speech.<\/li>\n<li>N\/A UK: Parliamentary vote on Brexit.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_120319_0.png\" alt=\"EURUSD H1\" data-align=\"center\" data-entity-type=\"file\" data-entity-uuid=\"1874b451-3ce8-4054-99c6-1a95fce1c93b\" \/><\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>The pair has recovered to the trend line. Despite the collapse of the EURGBP cross, I expect the rate to drop today to the 45<sup>th<\/sup> degree at 1.1222. This level marks yesterday\u2019s session low, which formed the third point of contact for the upwards channel. Along this channel, there\u2019s a support running through 1.1239.<\/p><div id=\"inves-62166339\" 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>The trend line drawn from 1.1176 has bolstered the balance line, which is moving at the same pace a few pips below. I think it\u2019s possible, but unlikely that the pair won\u2019t exit the channel. At the same time, if we get a sharp recovery on the crosses, the EURUSD could jump to 1.1340 (catching up with the surging pound).<\/p>\n<p>Today\u2019s central focus for traders is the UK parliament\u2019s vote on Theresa May\u2019s Brexit deal. The pound has surged 300 pips. Markets have already factored in a positive outcome. Now we can expect to see a downwards correction. Considering the significance of this event, I think it better to observe the market from the sidelines. We don\u2019t know the exact time of the vote.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: markets await the results of the Brexit vote<\/a>&#8220;<\/div>\n<div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: On Monday the 11th of March, trading on the EURUSD pair closed up. In the US session, the euro rose to 1.1274 against the greenback. Traders has their eyes on the pound which surged by 300 pips to reach 1.3288 against the dollar ahead of Tuesday\u2019s Brexit vote. The pair [&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-143481","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/143481","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=143481"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/143481\/revisions"}],"predecessor-version":[{"id":143482,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/143481\/revisions\/143482"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=143481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=143481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=143481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}