{"id":147649,"date":"2019-05-14T07:42:25","date_gmt":"2019-05-14T11:42:25","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=147649"},"modified":"2019-05-14T06:58:00","modified_gmt":"2019-05-14T10:58:00","slug":"eurusd-pair-trading-at-the-balance-point","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/05\/eurusd-pair-trading-at-the-balance-point\/","title":{"rendered":"EURUSD: pair trading at the balance point"},"content":{"rendered":"<div id=\"inves-3418698762\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 14, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By Matthew Anthony, <a href=\"https:\/\/alpari.com\/\">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 13<sup>th<\/sup> of May, trading on the EURUSD pair closed down. In the US session, however, the pair rose to 1.1264. The bulls managed to break above the 1.1250 resistance by 14 pips. I reckon the sharp decline was brought about by increased tensions in the US-China trade conflict. This provided a boost to the yen, Swiss franc, and gold. Chinese authorities have announced import tariffs on 60bn USD of US goods set to take effect on the 1<sup>st<\/sup> of June. The tariffs will be increased from 5% to 25%.<\/p>\n<p>Head of the Boston Fed Eric Rosengren said yesterday that the biggest potential risk to the global economy is the ongoing trade conflict between the US and China.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul>\n<li>11:30 UK: average earnings (Mar), ILO unemployment rate (Mar), claimant count rate (Apr).<\/li>\n<li>12:00 Germany: ZEW survey \u2013 economic sentiment (May).<\/li>\n<li>12:00 Eurozone: ZEW survey \u2013 economic sentiment (May), industrial production (Mar).<\/li>\n<li>13:00 US: NFIB business optimism index (Apr).<\/li>\n<li>15:30 US: import price index (Apr).<\/li>\n<li>19:45 US: Fed\u2019s George speech.<\/li>\n<li>23:30 US: API weekly crude oil stock (10 May).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_140519_0.png\" alt=\"EURUSD H1\" data-entity-type=\"file\" data-entity-uuid=\"b76e1882-7891-4fd5-974d-e6bcff83971b\" \/><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>Expectations of a test of 1.1250 were met. The pair is now trading around the balance line at 1.1239. Yesterday\u2019s daily bar with a long tail is a bearish signal. We could see a 50 \u2013 61% movement against this bar. As such, I expect a drop from 1.1250 to 1.1211 (45 degrees).<\/p>\n<p>Despite my expectations that the euro would decline against the dollar, the bullish trend on the hourly timeframe remains intact. The trend line runs below the 45<sup>th<\/sup> degree. If we don\u2019t see a retreat from risky assets, this should keep the bears at bay.<\/p>\n<p>There are no significant data releases planned for today. All eyes are on Donald Trump\u2019s Twitter account, which is where the market will get its direction from.<\/p>\n<\/div>\n<\/div>\n<p>Source: <a href=\"https:\/\/alpari.com\/\">Alpari<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Matthew Anthony, Alpari analyst Previous: On Monday the 13th of May, trading on the EURUSD pair closed down. In the US session, however, the pair rose to 1.1264. The bulls managed to break above the 1.1250 resistance by 14 pips. I reckon the sharp decline was brought about by increased tensions in the US-China [&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-147649","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147649","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=147649"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147649\/revisions"}],"predecessor-version":[{"id":147650,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147649\/revisions\/147650"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=147649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=147649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=147649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}