{"id":144579,"date":"2019-03-28T07:48:39","date_gmt":"2019-03-28T11:48:39","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=144579"},"modified":"2019-03-28T06:44:00","modified_gmt":"2019-03-28T10:44:00","slug":"eurusd-bears-could-try-to-trigger-stop-levels-at-1-1240","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/03\/eurusd-bears-could-try-to-trigger-stop-levels-at-1-1240\/","title":{"rendered":"EURUSD: bears could try to trigger stop levels at 1.1240"},"content":{"rendered":"<div id=\"inves-1510140661\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">March 28, 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 Wednesday the 27<sup>th<\/sup> of March, trading on the euro closed down. In the space of 5 trading days, the euro has shed 1.48% against the dollar, which is mostly the result of developments relating to Brexit weighing down on the euro via the EURGBP cross, as well as a retreat towards safe havens bolstering the dollar.<\/p>\n<p>It\u2019s worth pointing out that the dollar is rising amid declining US10Y bond yields, because market participants are focusing on the discrepancy between 10-year and 2-year bond yields. At the moment, however, US10Y bond yields are higher (2.35%) than US02Y (2.18%) and US03Y (2.19%).<\/p>\n<p>Mario Draghi added fuel to the fire yesterday with his hint that any potential interest rate hike could be delayed if deemed necessary.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>12:00 Eurozone: M3 money supply (Feb), private loans (Feb).<\/li>\n<li>12:10 Eurozone: ECB\u2019s De Guindos speech.<\/li>\n<li>13:00 Eurozone: consumer confidence (Mar), economic sentiment indicator (Mar), industrial confidence (Mar), business climate (Mar).<\/li>\n<li>15:30 US: GDP (Q4), initial jobless claims (22 Mar).<\/li>\n<li>16:00 Germany: harmonised index of consumer prices (Mar).<\/li>\n<li>17:00 US: pending home sales (Feb).<\/li>\n<li>20:15 US: Fed\u2019s Williams speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_280319_0.png\" alt=\"EURUSD H1\" data-align=\"center\" data-entity-type=\"file\" data-entity-uuid=\"359a04e8-eb8a-4543-92e3-7318a3d12fc2\" \/><\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p><div id=\"inves-4100461357\" 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>Market volatility remains high due to Brexit, as well as the retreat from risky assets. Our pair closed down on Wednesday and the euro is currently trading at 1.1256<\/p>\n<p>The hourly chart shows that a strong support has formed at the 67<sup>th<\/sup> degree. The pair is currently trading 14 pips away from it. In terms of Gann levels, the conditions for entering the market have been fulfilled. However, there are 2 factors that are bothering me. Firstly, the pair is rising despite a lack of trading volume. Secondly, the stochastic oscillator has moved into the sell zone. This makes me think that there are some hidden stop levels on long positions just below 1.1240. If this is the case, the big players need to trigger these to activate their limit orders. If the stop levels are triggered, this could lead to an increased volume of short positions on the euro, which will then prompt the bulls to enter the market.<\/p>\n<p>With a surge in trading volume, a recovery to 1.1295 within the channel is possible. I expect to see a bounce from the lower boundary of the channel at 1.1236. If the bulls aren\u2019t tempted by this then after a small bounce and a dip on the stochastic below 50, we could see a breakout to the downside of the trend line at 1.1265. Keep an eye on today\u2019s headlines.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: bears could try to trigger stop levels at 1.1240<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: On Wednesday the 27th of March, trading on the euro closed down. In the space of 5 trading days, the euro has shed 1.48% against the dollar, which is mostly the result of developments relating to Brexit weighing down on the euro via the EURGBP cross, as well as a [&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-144579","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144579","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=144579"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144579\/revisions"}],"predecessor-version":[{"id":144580,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144579\/revisions\/144580"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=144579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=144579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=144579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}