{"id":143864,"date":"2019-03-18T07:18:52","date_gmt":"2019-03-18T11:18:52","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=143864"},"modified":"2019-03-18T06:46:32","modified_gmt":"2019-03-18T10:46:32","slug":"eurusd-weak-us-data-has-increased-appetite-for-risk","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/03\/eurusd-weak-us-data-has-increased-appetite-for-risk\/","title":{"rendered":"EURUSD: weak US data has increased appetite for risk"},"content":{"rendered":"<div id=\"inves-951981053\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 18, 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 Friday the 15<sup>th<\/sup> of March, trading on the euro closed slightly up (+0.18%). Trading on the EURUSD pair was mixed throughout all the day\u2019s trading sessions. Volatility was high in the US session, during which the euro rose to 1.1344 as a result of weak US economic data dragging the dollar down.<\/p>\n<p>Data released showed a drop in production in the US in February for the second month running, while manufacturing activity in New York was weaker than expected. For the US Fed, this data is indicative of an economic slowdown in the US. The regulator could make adjustments to its monetary policy based on these figures.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>13:00 Eurozone: trade balance (Jan).<\/li>\n<li>14:00 Germany: German Buba monthly report.<\/li>\n<li>15:30 Canada: foreign portfolio investment in Canadian securities (Jan), Canadian portfolio investment in foreign securities (Jan).<\/li>\n<li>17:00 US: NAHB housing market index (Mar).<\/li>\n<li>23:00 NZ: Westpac consumer survey (Q1).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_180319_0.png\" alt=\"EURUSD H1\" data-align=\"center\" data-entity-type=\"file\" data-entity-uuid=\"1cccb72f-1e5b-4691-bca8-a19eaedf7d57\" \/><\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>Friday\u2019s reversal points matched my forecast line in terms of timing, but not in terms of amplitude. Weak US data shifted market sentiment towards risky assets, for which demand has remained up to the time of writing. All the majors are trading up against the dollar except for the yen.<\/p><div id=\"inves-849952676\" 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>On Friday, I made a forecast going up to the 19<sup>th<\/sup> of March. During the phase of decline, the bulls managed to successfully defend 1.13. The breakout of the trend line turned out to be false. I\u2019ve left my old forecast on the chart. Until the pair breaks the 135<sup>th<\/sup> degree, there\u2019s still a risk of sliding to 1.1260<\/p>\n<p>I\u2019ve drawn a line through the highs at 1.1388 and 1.1344, and drawn a parallel line below through 1.1294. Today, I expect price movements to remain above the trend line and below 1.1350.<\/p>\n<p>The rebound from 1.1300 has increased the chances of a breakout of 1.1350, with subsequent growth to 1.1376. The pair is rising without trading volume. If significant volume appears on the current hour, it will signify that traders are cashing in on their positions and this will mark the beginning of a correction. My forecast includes a rebound, but you should bear in mind that these are my expectations of a reversal. If the pair doesn\u2019t drop during the phase of decline, it should start dropping after 14:00 EET.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: weak US data has increased appetite for risk<\/a>&#8220;<\/div>\n<div><\/div>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: On Friday the 15th of March, trading on the euro closed slightly up (+0.18%). Trading on the EURUSD pair was mixed throughout all the day\u2019s trading sessions. Volatility was high in the US session, during which the euro rose to 1.1344 as a result of weak US economic data dragging [&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-143864","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/143864","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=143864"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/143864\/revisions"}],"predecessor-version":[{"id":143865,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/143864\/revisions\/143865"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=143864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=143864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=143864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}