{"id":149589,"date":"2019-06-14T07:38:50","date_gmt":"2019-06-14T11:38:50","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=149589"},"modified":"2019-06-14T07:17:47","modified_gmt":"2019-06-14T11:17:47","slug":"eurusd-pair-consolidating-around-the-trend-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/06\/eurusd-pair-consolidating-around-the-trend-line\/","title":{"rendered":"EURUSD pair consolidating around the trend line"},"content":{"rendered":"<div id=\"inves-2170882146\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 14, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <a href=\"https:\/\/alpari.com\/\">Alpari.com<\/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 Thursday the 13<sup>th<\/sup> of June, trading on the EURUSD pair closed down. The rate dropped after the breakout of the 1.1285 support (trend line, lower boundary of the channel, and 45<sup>th<\/sup> degree at 1.1291). Pressure on the euro increased after a statement from the IMF labelling the Eurozone\u2019s central economic forecast precarious.<\/p>\n<p>Markets are currently under the influence of several factors: the likely lowering of interest rates by the Fed, the trade dispute between the US and China, uncertainty over Brexit, and sanctions against Iran and Venezuela.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul>\n<li>15:30 US: retail sales (May).<\/li>\n<li>15:55 UK: BoE\u2019s Governor Carney speech.<\/li>\n<li>16:15 US: industrial production (May).<\/li>\n<li>17:00 US: Michigan consumer sentiment index (Jun), business inventories (Apr).<\/li>\n<li>20:00 US: Baker Hughes US oil rig count.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_140619_0.png\" alt=\"EURUSD H1\" data-entity-type=\"file\" data-entity-uuid=\"2d8d8a97-b865-485f-ad8c-9d424b377a15\" \/><strong><em>Current situation<\/em><\/strong><\/p>\n<p>Most of the majors are trading down in Asia. At the moment, we have a contradictory picture of the euro in terms of technical analysis. On the chart, I\u2019ve laid out one scenario with a renewed minimum and a rebound to the balance line at 1.1290\/95. Another potential scenario is a descending triangle formation and the downwards wave ending at 1.1251. I went with the first one because the stochastic is in the buy zone, and after a bullish divergence, there\u2019s a good chance of the pair returning to around 1.13.<\/p><div id=\"inves-427105366\" 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><strong>By <a href=\"https:\/\/alpari.com\/\">Alpari.com<\/a><\/strong><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Alpari.com Previous: On Thursday the 13th of June, trading on the EURUSD pair closed down. The rate dropped after the breakout of the 1.1285 support (trend line, lower boundary of the channel, and 45th degree at 1.1291). Pressure on the euro increased after a statement from the IMF labelling the Eurozone\u2019s central economic forecast [&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-149589","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/149589","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=149589"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/149589\/revisions"}],"predecessor-version":[{"id":149590,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/149589\/revisions\/149590"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=149589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=149589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=149589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}