{"id":146377,"date":"2019-04-24T07:43:35","date_gmt":"2019-04-24T11:43:35","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=146377"},"modified":"2019-04-24T06:49:33","modified_gmt":"2019-04-24T10:49:33","slug":"eurusd-rebound-from-the-1-1192-support","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/04\/eurusd-rebound-from-the-1-1192-support\/","title":{"rendered":"EURUSD: rebound from the 1.1192 support"},"content":{"rendered":"<div id=\"inves-1806866483\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">April 24, 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 23<sup>rd<\/sup> of April, the euro dropped to 1.1192 against the US dollar. Trading on the pair closed at the 1.1227 mark, but pressure on the euro remains as a result of the collapse of the Aussie dollar this morning.<\/p>\n<p>The greenback made ground against the majors following the publication of housing data. These figures suggest a pickup in economic growth, which in turn reduces the likelihood of interest rates being lowered by the Fed. Traders are now looking ahead to US GDP data for Q1 on Friday.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>11:00 Switzerland: ZEW survey \u2013 expectations (Apr).<\/li>\n<li>11:00 Germany: IFO \u2013 expectations (Apr), IFO \u2013 business climate (Apr), IFO \u2013 current assessment (Apr).<\/li>\n<li>11:30 UK: public sector net borrowing (Mar).<\/li>\n<li>17:00 Canada: BoC interest rate decision and statement, BoC monetary policy report.<\/li>\n<li>17:30 US: EIA crude oil stocks change (19 Apr).<\/li>\n<li>18:15 Canada: BoC press conference.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_240419_0.png\" alt=\"EURUSD H1\" data-align=\"center\" data-entity-type=\"file\" data-entity-uuid=\"86b0288c-5d2c-4a16-ae22-0c4ce6eeb4f6\" \/><\/p>\n<p><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>On Tuesday, US data helped the bears revisit the 1.1226 low. The pair then rebounded from the 112<sup>th<\/sup> degree and the support (drawn from the 1.1179 and 1.1184 lows).<\/p><div id=\"inves-3292329650\" 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 the Asian session, the drop recommenced on the back of the Aussie dollar\u2019s collapse, which occurred as a result of weak CPI data for Q1. Following this, demand for short positions on USD shot up. Investors began hedging their bets against a further drop on AUD based on expectations that the RBA will lower interest rates at next month\u2019s meeting.<\/p>\n<p>A session low was recorded at 1.1201. There\u2019s a risk of dropping even lower. The big players will want to activate all the stop levels below the support before opening their long positions and heading north. In my forecast, I expect a recovery to the trend line at 1.1242. The 45<sup>th<\/sup> degree is sitting at 1.1245. I can\u2019t see the pair going any higher than this.<\/p>\n<p>Source: <a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/115834_24042019\/\">EURUSD: rebound from the 1.1192 support<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari Previous: On Tuesday the 23rd of April, the euro dropped to 1.1192 against the US dollar. Trading on the pair closed at the 1.1227 mark, but pressure on the euro remains as a result of the collapse of the Aussie dollar this morning. The greenback made ground against the majors following [&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-146377","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/146377","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=146377"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/146377\/revisions"}],"predecessor-version":[{"id":146378,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/146377\/revisions\/146378"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=146377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=146377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=146377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}