{"id":150258,"date":"2019-06-25T06:59:28","date_gmt":"2019-06-25T10:59:28","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=150258"},"modified":"2019-06-25T06:38:26","modified_gmt":"2019-06-25T10:38:26","slug":"eurusd-correction-following-saw-tooth-model","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/06\/eurusd-correction-following-saw-tooth-model\/","title":{"rendered":"EURUSD: correction following saw tooth model"},"content":{"rendered":"<div id=\"inves-3233920065\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 25, 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 Monday the 24<sup>th<\/sup> of June, trading on the euro closed up by 0.26%. The pair moved upwards within a 24-pip corridor. There was no significant economic news planned for Monday. The euro was held up above 1.1370 thanks to the euro crosses along with a declining US dollar, which has been under pressure since the FOMC meeting.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul>\n<li>13:00 UK: CBI distributed trend survey \u2013 realised (Jun).<\/li>\n<li>15:30 Canada: wholesale sales (Apr).<\/li>\n<li>15:45 US: Fed\u2019s Williams speech.<\/li>\n<li>16:00 US: S&amp;P\/Case-Shiller home price indices (Apr).<\/li>\n<li>17:00 US: Richmond Fed manufacturing index (Jun), new home sales (May).<\/li>\n<li>20:00 US: Fed\u2019s Chair Powell speech.<\/li>\n<li>20:15 Eurozone: ECB\u2019s C\u0153ur\u00e9 speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_250619_0_0.png\" alt=\"EURUSD H1\" data-entity-type=\"file\" data-entity-uuid=\"3eadb5e2-fa21-4623-b2a0-db5ba1f8b12d\" \/><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>Yesterday didn\u2019t turn out as expected. I\u2019m not sure why speculators still have an appetite for risk with the meeting between the leaders of China and the US looming (the coming weekend). It\u2019s as if the major players already know what\u2019s going to happen there. And what about the ECB\u2019s loose monetary policy?<\/p>\n<p>US President Donald Trump has ordered new economic sanctions against Iran. The increased tensions have boosted the oil market, which in turn has boosted commodity currencies.<\/p><div id=\"inves-4107989682\" 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>I\u2019m not changing the forecast I made yesterday. The only thing is that after hitting a fresh high, the 45<sup>th<\/sup> degree has shifted upwards. The pair has broken the lower boundary of the channel and is now trading at 1.1389. I\u2019m expecting a drop to 1.1365. If a sharp upwards rebound doesn\u2019t follow, we can expect a drop to around 1.1340.<\/p>\n<p><strong>By <a href=\"https:\/\/alpari.com\/\">Alpari.com<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Alpari.com Previous: On Monday the 24th of June, trading on the euro closed up by 0.26%. The pair moved upwards within a 24-pip corridor. There was no significant economic news planned for Monday. The euro was held up above 1.1370 thanks to the euro crosses along with a declining US dollar, which has been [&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-150258","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/150258","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=150258"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/150258\/revisions"}],"predecessor-version":[{"id":150259,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/150258\/revisions\/150259"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=150258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=150258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=150258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}