{"id":143933,"date":"2019-03-19T07:22:29","date_gmt":"2019-03-19T11:22:29","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=143933"},"modified":"2019-03-19T06:41:26","modified_gmt":"2019-03-19T10:41:26","slug":"eurusd-triangle-formation-keeping-the-bears-at-bay","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/03\/eurusd-triangle-formation-keeping-the-bears-at-bay\/","title":{"rendered":"EURUSD: triangle formation keeping the bears at bay"},"content":{"rendered":"<div id=\"inves-2790099746\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 19, 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 18<sup>th<\/sup> of March, trading on the euro closed slightly up. During the European session, the bulls pushed the pair up to 1.1359 on the back of the weak US data released last week. The dollar partially recovered its losses in the US session and the EURUSD pair returned to the balance line.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul>\n<li>10:00 Switzerland: trade balance (Feb).<\/li>\n<li>12:30 UK: claimant count change (Feb), average earnings (Jan), ILO unemployment rate (Jan).<\/li>\n<li>13:00 Germany: ZEW survey \u2013 economic sentiment (Mar), ZEW survey \u2013 current situation (Mar).<\/li>\n<li>17:00 US: factory orders (Jan).<\/li>\n<li>22:30 US: API weekly crude oil stock (15 Mar).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_190319_0.png\" alt=\"EURUSD H1\" data-align=\"center\" data-entity-type=\"file\" data-entity-uuid=\"f72dbfdd-9a38-473e-bedb-ea291f6ea6fd\" \/><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>The bulls have shifted the upper boundary of the channel, but the pair\u2019s dynamics followed my forecast for the most part. The price bounced from the balance line and the trend line (from 1.1176) to 1.1349. By close, the bulls had retreated back to the balance line.<\/p>\n<p>A triangle formation has appeared on the H4 timeframe. Judging by the wave structure, this isn\u2019t an ending diagonal. Most traders judge these price models by eye without looking at the internal wave structure. As such, the more defined the formation is, the bigger the influence it will have on the market.<\/p><div id=\"inves-2005785239\" 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>Trader attention is shifting towards the Fed meeting. The US central bank\u2019s meeting will begin today, and end with a press conference tomorrow. The regulator is expected to leave interest rates at their current levels and to downgrade their outlook. We\u2019ll have to wait and see what kind of statements we get and what the reactions to them will be like.<\/p>\n<p>From a technical standpoint, the pair is poised to decline from its current level. Considering the rebounds that occurred on the 14<sup>th<\/sup> and 18<sup>th<\/sup> of March, the bulls may try to use the rising euro crosses to trigger stop levels ahead of the meeting. I expect to see the pair rebound downwards from around 1.1360 \u2013 1.1367 as traders cash in on their long positions. A breakout of the trend line at 1.1345 would increase pressure on the bulls. After such a breakout, we would have a target zone of 1.1318 \u2013 1.1320. It remains to be seen whether we\u2019ll reach the 45<sup>th<\/sup> degree.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: triangle formation keeping the bears at bay<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: On Monday the 18th of March, trading on the euro closed slightly up. During the European session, the bulls pushed the pair up to 1.1359 on the back of the weak US data released last week. The dollar partially recovered its losses in the US session and the EURUSD 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-143933","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/143933","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=143933"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/143933\/revisions"}],"predecessor-version":[{"id":143934,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/143933\/revisions\/143934"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=143933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=143933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=143933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}