{"id":147726,"date":"2019-05-15T07:45:34","date_gmt":"2019-05-15T11:45:34","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=147726"},"modified":"2019-05-15T06:46:47","modified_gmt":"2019-05-15T10:46:47","slug":"eurusd-bears-have-broken-the-trend-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/05\/eurusd-bears-have-broken-the-trend-line\/","title":{"rendered":"EURUSD: bears have broken the trend line"},"content":{"rendered":"<div id=\"inves-3461302092\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">May 15, 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 Tuesday the 14<sup>th<\/sup> of May, trading on the euro closed down. The EURUSD pair dropped from 1.1243 to 1.1201. The 45<sup>th<\/sup> degree provided some support along with the lower boundary of the upwards channel. I think that we\u2019ll see some sharp fluctuations over the next few days caused by Donald Trump. The US has increased tariffs on Chinese goods. China will introduce countermeasures on the 1<sup>st<\/sup> of June. Trump says that trade talks with China are set to continue, and expects that they will conclude successfully. The Chinese government has confirmed that they intend to continue holding trade negotiations.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul>\n<li>12:00 Eurozone: GDP (Q1), employment change (Q1).<\/li>\n<li>15:30 Canada: BoC CPI core (Apr).<\/li>\n<li>15:30 US: retail sales (Apr), NY Empire State manufacturing index (May).<\/li>\n<li>17:00 US: NAHB housing market index (May).<\/li>\n<li>17:15 Eurozone: ECB\u2019s C\u0153ur\u00e9 speech.<\/li>\n<li>17:30 US: EIA crude oil stocks change (10 May).<\/li>\n<li>23:00 US: net long-term TIC flows (Mar).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_150519_0.png\" alt=\"EURUSD H1\" data-entity-type=\"file\" data-entity-uuid=\"bf0e45e0-187c-45e1-bc8c-6a1177552306\" \/><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>Expectations that the euro would drop were met. The bears broke the trend line in today\u2019s Asian session. The pair is currently trading at 1.1203.<\/p>\n<p>Preliminary German GDP figures for the first quarter of 2019 showed a rise of 0.4%, as predicted. The year-on-year growth slowed more than expected, posting a rise of 0.6% against a previous reading of 0.9%. Markets declined slightly in response, and this drop has intensified at the time of writing.<\/p><div id=\"inves-1322846085\" 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 my forecast, I expect the euro to drop to the 67<sup>th<\/sup> degree against the dollar at 1.1185. If the euro crosses decline during this drop, the euro should make it to 1.1175. As we approach 1.1185, we should keep an eye on trading volumes on euro futures, as well as on the trajectory of the yen and gold. A rise on yen and gold will indicate an increase in pressure.<\/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 Tuesday the 14th of May, trading on the euro closed down. The EURUSD pair dropped from 1.1243 to 1.1201. The 45th degree provided some support along with the lower boundary of the upwards channel. I think that we\u2019ll see some sharp fluctuations over the next few days caused [&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-147726","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147726","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=147726"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147726\/revisions"}],"predecessor-version":[{"id":147727,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/147726\/revisions\/147727"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=147726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=147726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=147726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}