{"id":151172,"date":"2019-07-09T08:30:53","date_gmt":"2019-07-09T12:30:53","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=151172"},"modified":"2019-07-09T07:12:46","modified_gmt":"2019-07-09T11:12:46","slug":"eurusd-bears-looking-to-break-through-1-12","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/07\/eurusd-bears-looking-to-break-through-1-12\/","title":{"rendered":"EURUSD: bears looking to break through 1.12"},"content":{"rendered":"<div id=\"inves-2279324251\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 9, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By <a href=\"https:\/\/alpari.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">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 8<sup>th<\/sup> of July, trading on the EURUSD pair closed slightly down. The \u201cMonday vs Friday\u201d scenario didn\u2019t work out. The greenback spent the day trading up against the majors as it enjoyed continued support from Friday\u2019s positive jobs data. Friday\u2019s figured lowered expectations that the Fed will sharply reduce interest rates by 50 base points at the end of July. Yesterday\u2019s movements all took place within Friday\u2019s range, without any breakouts.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul>\n<li>15:15 Canada: housing starts (Jun).<\/li>\n<li>15:30 Canada: building permits (May).<\/li>\n<li>15:45 US: Fed\u2019s Chair Powell speech.<\/li>\n<li>17:00 US: JOLTS job openings (May).<\/li>\n<li>17:10 US: Fed\u2019s Bullard speech.<\/li>\n<li>21:00 US: Fed\u2019s Quarles speech.<\/li>\n<li>23:30 US: API weekly crude oil stock (5 Jul).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_090719_0.png\" alt=\"EURUSD H1\" data-entity-type=\"file\" data-entity-uuid=\"02cdca52-2bc3-4504-8091-d07fec610ca2\" \/><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>Expectations of a correction to the balance line failed to materialise. Growth on the pair stalled at 1.1234, with the bulls missing out on their target by 6 pips. It wasn\u2019t reaching the 1.1240 mark itself that was important, but the pair recovering to the balance line.<\/p>\n<p>The pair has been consolidating for 38 hours. All eyes are now on Fed Chair Jerome Powell\u2019s speech scheduled for today. Minutes from the FOMC\u2019s June meeting will be released on Wednesday. Markets aren\u2019t expecting Powell to mention interest rates, but doing so may bring about some sharp fluctuations.<\/p>\n<p>I\u2019m still expecting to see a bounce to the LB, except this time, the following drop could gather momentum and break through the 1.12 support. This week could see trade talks recommence between the US and China. Investors will be paying particular attention to any developments on this front.<\/p>\n<\/div>\n<\/div>\n<p><strong>By <a href=\"https:\/\/alpari.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Alpari.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Alpari.com Previous: On Monday the 8th of July, trading on the EURUSD pair closed slightly down. The \u201cMonday vs Friday\u201d scenario didn\u2019t work out. The greenback spent the day trading up against the majors as it enjoyed continued support from Friday\u2019s positive jobs data. Friday\u2019s figured lowered expectations that the Fed will sharply reduce [&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-151172","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151172","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=151172"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151172\/revisions"}],"predecessor-version":[{"id":151173,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/151172\/revisions\/151173"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=151172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=151172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=151172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}