{"id":153181,"date":"2019-08-09T08:15:56","date_gmt":"2019-08-09T12:15:56","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=153181"},"modified":"2019-08-09T07:16:26","modified_gmt":"2019-08-09T11:16:26","slug":"eurusd-pair-caught-in-the-b-b-channel","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/eurusd-pair-caught-in-the-b-b-channel\/","title":{"rendered":"EURUSD: pair caught in the B-B channel"},"content":{"rendered":"<div id=\"inves-4061980248\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 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 Thursday the 8<sup>th<\/sup> of August, trading on the euro closed down. The EURUSD pair remained within Wednesday\u2019s range. Markets have stabilised for the time being following reports that the US and China are set to continue trade talks in September. Investors were also calmed by the PBOC\u2019s statement that it has not manipulated the value of the yuan to mitigate the effects of increased tariffs from the US on Chinese goods.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul>\n<li>11:30 UK: GDP (Q2), industrial production (Jun), manufacturing production (Jun), trade balance (Jun).<\/li>\n<li>15:15 Canada: housing starts (Jul).<\/li>\n<li>15:30 Canada: unemployment rate (Jul), net change in employment (Jul), building permits (Jun).<\/li>\n<li>15:30 US: PPI (Jul).<\/li>\n<li>16:00 UK: NIESR GDP estimate (Jul).<\/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_090819_0.png\" alt=\"EURUSD H1\" data-entity-type=\"file\" data-entity-uuid=\"e58f78f6-a86c-430f-b840-8769179abe3e\" \/><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>The bears didn\u2019t make it to the 67<sup>th<\/sup> degree (1.1162) on Thursday. The drop came to an end at around 1.1180. We can\u2019t rule out an upwards rebound here given Donald Trump\u2019s dissatisfaction with the strong US dollar.<\/p>\n<p>On Friday the 9<sup>th<\/sup> of August, the majors are trading slightly up against the dollar. Taking into account the pricing model that we\u2019ve drawn based on the 1.1250 high, I\u2019m leaning more towards a drop to the lower boundary of the B-B channel and the 67<sup>th<\/sup> degree. I think this needs to happen before we can get a new rally.<\/p>\n<p>Investors are mostly focused on the movements of the yuan. If they start to move towards safe haven assets ahead of the weekend, we can expect the euro to rise. Judging by the indicators, we should expect a decline ahead of the US session, followed by a rise to 1.1195.<\/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 Thursday the 8th of August, trading on the euro closed down. The EURUSD pair remained within Wednesday\u2019s range. Markets have stabilised for the time being following reports that the US and China are set to continue trade talks in September. Investors were also calmed by the PBOC\u2019s statement that it has [&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-153181","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153181","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=153181"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153181\/revisions"}],"predecessor-version":[{"id":153185,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/153181\/revisions\/153185"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=153181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=153181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=153181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}