{"id":147187,"date":"2019-05-07T07:30:53","date_gmt":"2019-05-07T11:30:53","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=147187"},"modified":"2019-05-07T07:01:03","modified_gmt":"2019-05-07T11:01:03","slug":"eurusd-still-trading-around-the-balance-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/05\/eurusd-still-trading-around-the-balance-line\/","title":{"rendered":"EURUSD: still trading around the balance line"},"content":{"rendered":"<div id=\"inves-2237919668\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 7, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <a href=\"https:\/\/alpari.com\/\">Matthew Anthony, Alpari analyst<\/a><\/strong><\/p>\n<div class=\"-cms-content analytics-reviews-category-review-article__review\">\n<div>\n<p><strong><em>Previous:<\/em><\/strong><\/p>\n<p>On Monday the 6<sup>th<\/sup> of May, trading on the EURUSD pair closed down by 1 pip on Friday\u2019s value, although the day\u2019s candlestick had a bullish body. This was made possible due to the price gap, as trading opened down on Friday\u2019s closing price. An escalation to the trading conflict between the US and China has prompted a retreat to the safe havens.<\/p>\n<p>US President Donald Trump announced that tariffs would be increased from 10% to 25% on 200bn USD of Chinese goods on Friday. This got a negative reaction from China.<\/p>\n<p>Robert Lighthizer, the US Trade Representative, said that China\u2019s backtracking on previous commitments was responsible for Trump\u2019s tweet. China is expected to send a delegation to Washington for further talks.<\/p>\n<p>The euro was the day\u2019s biggest winner against the dollar with help from the crosses. Demand for the euro crosses surged after the release of Eurozone data and the pound\u2019s drop. After closing the price gap, the pair hovered around 1.1190.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p><div id=\"inves-1782019101\" 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<ul>\n<li>17:00 Canada: Ivey PMI (Apr).<\/li>\n<li>17:00 US: JOLTS job openings (Mar).<\/li>\n<li>18:35 US: Fed\u2019s Quarles speech.<\/li>\n<li>19:30 UK: BoE\u2019s Haldane speech.<\/li>\n<li>22:00 US: consumer credit change (Mar).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_070519_0.png\" alt=\"EURUSD H1\" data-entity-type=\"file\" data-entity-uuid=\"de0e8dfe-e8d3-437e-9135-bd60451e2ebb\" \/><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>The euro is recovering via a saw tooth model. Considering that many of the majors suffered a 0.5% decline yesterday, while the euro didn\u2019t, I expect the single currency to drop to the LB in the first half of today\u2019s European session. The technical picture still indicates a rise to 1.1280. The 67<sup>th<\/sup> degree is providing support, so considering how the stochastic is set up, it\u2019s better to hold off on long positions until we get to the LB.<\/p>\n<p>Source: <a href=\"https:\/\/alpari.com\/\">Alpari<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari analyst Previous: On Monday the 6th of May, trading on the EURUSD pair closed down by 1 pip on Friday\u2019s value, although the day\u2019s candlestick had a bullish body. This was made possible due to the price gap, as trading opened down on Friday\u2019s closing price. An escalation to the trading [&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-147187","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147187","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=147187"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147187\/revisions"}],"predecessor-version":[{"id":147188,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147187\/revisions\/147188"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=147187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=147187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=147187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}