{"id":144957,"date":"2019-04-03T07:50:00","date_gmt":"2019-04-03T11:50:00","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=144957"},"modified":"2019-04-03T06:59:22","modified_gmt":"2019-04-03T10:59:22","slug":"eurusd-rebound-from-the-112th-degree","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/04\/eurusd-rebound-from-the-112th-degree\/","title":{"rendered":"EURUSD: rebound from the 112th degree"},"content":{"rendered":"<div id=\"inves-128103563\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">April 3, 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 Tuesday the 2<sup>nd<\/sup> of April, the pound was the centre of attention among traders against the backdrop of Brexit news. While trading on our main pair closed slightly down, the euro recovered to 1.1229 in this morning\u2019s Asian session.<\/p>\n<p>Once again, the rise of the majors against the greenback was driven by British Prime Minister Theresa May\u2019s statement that she is ready to seek an alternative approach to Brexit with the leader of the Labour Party, Jeremy Corbyn. She is looking to find a compromise on this issue that all parties can agree on.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>10:15 Spain: Markit services PMI (Mar).<\/li>\n<li>10:45 Italy: Markit services PMI (Mar).<\/li>\n<li>10:50 France: Markit services PMI (Mar).<\/li>\n<li>10:55 Germany: Markit services PMI (Mar).<\/li>\n<li>11:00 Eurozone: Markit services PMI (Mar).<\/li>\n<li>11:30 UK: Markit services PMI (Mar).<\/li>\n<li>12:00 Eurozone: retail sales (Feb).<\/li>\n<li>15:15 US: ADP employment change (Mar).<\/li>\n<li>16:45 US: Markit services PMI (Mar).<\/li>\n<li>17:00 US: ISM non-manufacturing PMI (Mar).<\/li>\n<li>17:30 US: EIA crude oil stocks change (29 Mar).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_030419_0.png\" alt=\"EURUSD H1\" data-align=\"center\" data-entity-type=\"file\" data-entity-uuid=\"e5bc1030-beef-4698-a084-77c603346c36\" \/><\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>In today\u2019s Asian session, the US dollar is trading down against all the majors except for the yen. The bulls broke through the trend lines on our main pair this morning. On the chart, I\u2019ve got one that runs through the 1.1326 high from the 26<sup>th<\/sup> of March. The main trend line, drawn from 1.1448 (20<sup>th<\/sup> of March), runs through 1.1207. The trend line breakout signifies the end of the downwards movement. We can start talking about a full reversal when the pair breaks 1.1250.<\/p><div id=\"inves-48003068\" 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>At the time of making the chart, the pair was trading at 1.1216. The pair has returned to the balance line. The bulls now need to defend 1.1210. If this level is broken, there\u2019s a risk of dropping to 1.1184. If the pair exits the channel (dashed line) upwards, then we can turn our attention towards the 1.1263 mark.<\/p>\n<p>Be warned that Brexit is going to dominate the headlines until Friday. On Friday, US labour market data will be released.<\/p>\n<p>Source: <a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/115601_03042019\/\">EURUSD: rebound from the 112th degree<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: On Tuesday the 2nd of April, the pound was the centre of attention among traders against the backdrop of Brexit news. While trading on our main pair closed slightly down, the euro recovered to 1.1229 in this morning\u2019s Asian session. Once again, the rise of the majors against the greenback [&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-144957","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144957","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=144957"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144957\/revisions"}],"predecessor-version":[{"id":144958,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/144957\/revisions\/144958"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=144957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=144957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=144957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}