{"id":149535,"date":"2019-06-13T07:45:52","date_gmt":"2019-06-13T11:45:52","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=149535"},"modified":"2019-06-13T07:12:55","modified_gmt":"2019-06-13T11:12:55","slug":"eurusd-consolidating-around-the-trend-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/06\/eurusd-consolidating-around-the-trend-line\/","title":{"rendered":"EURUSD: consolidating around the trend line"},"content":{"rendered":"<div id=\"inves-258414090\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 13, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <\/strong><a href=\"https:\/\/alpari.com\"><strong>Alpari.com<\/strong><\/a><\/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 Wednesday the 12<sup>th<\/sup> of June, trading on the EURUSD pair closed down. I reckon the pair was dragged down by the British pound. It dropped to 1.1283 after the House of Commons voted against the opposition\u2019s proposal to block a no-deal Brexit.<\/p>\n<p>The dollar\u2019s rise is being held back by the trade dispute between the US and China, as well as market expectations that the Federal Reserve plans to cut interest rates. It remains to be seen whether the Chinese president will go to the G20 summit or not. US President Donald Trump has taken a hardline stance against China, threatening to impose tariffs on China to the tune of 325bn USD if he doesn\u2019t get to meet with Xi Jinping.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul>\n<li>10:30 Switzerland: SNB interest rate decision.<\/li>\n<li>11:00 Switzerland: SNB press conference.<\/li>\n<li>12:00 Eurozone: industrial production (Apr).<\/li>\n<li>15:30 Canada: new housing price index (Apr).<\/li>\n<li>15:30 US: import price index (May), initial jobless claims (7 Jun).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_130619_0.png\" alt=\"EURUSD H1\" data-entity-type=\"file\" data-entity-uuid=\"2520e9f7-a2a4-46d7-ba12-4f303c3e9b7c\" \/><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>The session low was recorded at 1.1288. At the time of writing, the EURUSD pair is trading at 1.1298. The lower line of the sideways channel and the trend line intersect at 1.1284. The 45<sup>th<\/sup> degree is at 1.1291. The support is strong, so I\u2019m expecting the pair to recover to 1.1333\/35. I can\u2019t see the pair rising any further than 1.1340, however, due to the continued uncertainty over trade between the US and China. Trump is expecting to conclude a deal.<\/p><div id=\"inves-2630892806\" 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>If we make it to the 45<sup>th<\/sup> degree quickly, we can expect the stop levels at 1.1348 to be triggered. Since our given range is horizontal, growth after the breakout should be tempered. We should see markets start to trend in the US session. The stochastic should enter the buy zone before trading gets underway in America.<\/p>\n<p><strong>By <\/strong><a href=\"https:\/\/alpari.com\"><strong>Alpari.com<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Alpari.com Previous: On Wednesday the 12th of June, trading on the EURUSD pair closed down. I reckon the pair was dragged down by the British pound. It dropped to 1.1283 after the House of Commons voted against the opposition\u2019s proposal to block a no-deal Brexit. The dollar\u2019s rise is being held back by the [&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-149535","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/149535","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=149535"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/149535\/revisions"}],"predecessor-version":[{"id":149536,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/149535\/revisions\/149536"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=149535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=149535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=149535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}