{"id":157583,"date":"2019-10-15T07:55:54","date_gmt":"2019-10-15T11:55:54","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=157583"},"modified":"2019-10-15T07:39:42","modified_gmt":"2019-10-15T11:39:42","slug":"eurusd-bulls-trying-to-get-a-bounce-from-the-balance-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/10\/eurusd-bulls-trying-to-get-a-bounce-from-the-balance-line\/","title":{"rendered":"EURUSD: bulls trying to get a bounce from the balance line"},"content":{"rendered":"<div id=\"inves-3056636574\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 15, 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>The US and Canada had a national holiday on Monday. Market activity was low. The major currencies fluctuated within limited ranges. The EURUSD traded within a range of 1.1013 to 1.1043 (30 pips). By the end of the day, the trading range has narrowed to 13 pips.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul>\n<li>09:30 Switzerland: producer and import prices (Sep).<\/li>\n<li>09:45 France: CPI (Sep).<\/li>\n<li>11:30 UK: claimant count rate (Sep), ILO unemployment rate (Aug), average earnings (Aug).<\/li>\n<li>12:00 Germany: ZEW survey \u2013 economic sentiment (Oct).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_151019_0.png\" alt=\"EURUSD H1\" data-entity-type=\"file\" data-entity-uuid=\"9432000e-22b4-46dd-a232-f3c6f027f5bb\" \/><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>We forecasted a wide trading range yesterday amid the US and Canadian national holidays, but it turned out narrower than expected with the pair hovering around the balance line. The volume profile filled the void from the 11<sup>th<\/sup> of October. This suggests that the market is ready to push the rate to new levels.<\/p>\n<p>There\u2019s a support zone between 1.1005 and 1.1013. If this falls, the trend line will be tested. It currently runs through 1.0990.<\/p>\n<p>The stochastic is in the sell zone, so we expect the rate to drop to the 45<sup>th<\/sup> degree at 1.1009 after an initial rise to 1.1042. Today\u2019s major economic event is the employment report from the UK. It\u2019s important for the pound, so expect a surge in volatility at 11:30 (GMT+3) on GBP pairs. The EURGBP pair will have a ripple effect on the EURUSD. After a test of the 45<sup>th<\/sup> degree, we can expect a renewed rally.<\/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 The US and Canada had a national holiday on Monday. Market activity was low. The major currencies fluctuated within limited ranges. The EURUSD traded within a range of 1.1013 to 1.1043 (30 pips). By the end of the day, the trading range has narrowed to 13 pips. Day\u2019s news (GMT+3): 09:30 Switzerland: producer [&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-157583","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/157583","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=157583"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/157583\/revisions"}],"predecessor-version":[{"id":157584,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/157583\/revisions\/157584"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=157583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=157583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=157583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}