{"id":144810,"date":"2019-04-01T07:50:21","date_gmt":"2019-04-01T11:50:21","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=144810"},"modified":"2019-04-01T07:12:17","modified_gmt":"2019-04-01T11:12:17","slug":"eurusd-bulls-trying-to-make-a-correction-after-positive-chinese-data","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/04\/eurusd-bulls-trying-to-make-a-correction-after-positive-chinese-data\/","title":{"rendered":"EURUSD: bulls trying to make a correction after positive Chinese data"},"content":{"rendered":"<div id=\"inves-3786960522\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">April 1, 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 29<sup>th<\/sup> of March, trading on the EURUSD pair closed slightly down. Market volatility was high throughout the day. The pair dropped to the 1.1212 mark before rebounding to 1.1247 (+35 pips). On the hourly timeframe, the low and high appeared on the chart a few hours after they did on the British pound. This lag was due to the dynamics of the EURGBP cross, which made a swing in the wake of news from the UK that parliament had once again voted down Theresa May\u2019s Brexit deal. This was the 3<sup>rd<\/sup> time lawmakers rejected the deal, this time with 344 votes for and 286 against. On the back of this result, the EURUSD pair slid to 1.1213.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul>\n<li>09:50 France: Markit manufacturing PMI (Mar).<\/li>\n<li>10:00 Germany: Markit manufacturing PMI (Mar).<\/li>\n<li>10:00 Eurozone: Markit manufacturing PMI (Mar).<\/li>\n<li>10:30 Switzerland: SVME \u2013 PMI (Mar).<\/li>\n<li>11:30 UK: Markit manufacturing PMI (Mar).<\/li>\n<li>12:00 Eurozone: CPI (Mar).<\/li>\n<li>15:30 US: retail sales (Feb).<\/li>\n<li>16:45 US: Markit manufacturing PMI (Mar).<\/li>\n<li>17:00 US: ISM manufacturing PMI (Mar), business inventories (Jan), construction spending (Feb).<\/li>\n<li>21:55 Canada: BoC governor Poloz speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_010419_0.png\" alt=\"EURUSD H1\" data-align=\"center\" data-entity-type=\"file\" data-entity-uuid=\"ecd4ad7b-005a-43ff-a4ae-c8a2b63f01d4\" \/><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>In Friday\u2019s European session, the pair dipped as it did on Thursday to surpass the 1.1214 low by 4 pips before shooting back upwards. Although the fluctuations were caused by developments in the news, the trajectory panned out the same way.<\/p>\n<p>Trading on the euro has opened up against the dollar today. Chinese data released over the weekend has provided support to risky currencies. The services and manufacturing PMIs came out better than expected.<\/p><div id=\"inves-3751687345\" 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>In Asia, the pair jumped to 1.1242. The EURUSD and GBPUSD pairs rose in tandem. As the upper boundary of the channel was reached, the euro reversed downwards. As the stochastic is in the sell zone, I expect to see a downwards correction to the growth seen in Asia ahead of the US session.<\/p>\n<p>If we don\u2019t get any negative news about Brexit or the trade talks between the US and China, we\u2019re likely to see a test of 1.1258\/65. If the rate starts to drop, keep an eye on 1.1220 as well as the dynamics of the yen. This level has to hold up for there to be any further growth prospects, and the yen has to drop against all the majors.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: bulls trying to make a correction after positive Chinese data<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: On Friday the 29th of March, trading on the EURUSD pair closed slightly down. Market volatility was high throughout the day. The pair dropped to the 1.1212 mark before rebounding to 1.1247 (+35 pips). On the hourly timeframe, the low and high appeared on the chart a few hours after [&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-144810","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144810","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=144810"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144810\/revisions"}],"predecessor-version":[{"id":144811,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144810\/revisions\/144811"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=144810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=144810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=144810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}