{"id":158036,"date":"2019-10-21T08:04:10","date_gmt":"2019-10-21T12:04:10","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=158036"},"modified":"2019-10-21T07:05:54","modified_gmt":"2019-10-21T11:05:54","slug":"eurusd-bulls-ready-for-new-highs-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/10\/eurusd-bulls-ready-for-new-highs-2\/","title":{"rendered":"EURUSD: bulls ready for new highs"},"content":{"rendered":"<div id=\"inves-1422921713\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 21, 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>On Friday the 18<sup>th<\/sup> of October, trading on the euro closed up. The bullish phase started in the European session and continued throughout the rest of the day. The euro rose on the back of a broadly weaker dollar, which was put under pressure by the UK\u2019s EU withdrawal agreement. The EURUSD pair rose to 1.1172 without any corrections.<\/p>\n<p><strong><em>Day\u2019s news (GMT+3):<\/em><\/strong><\/p>\n<ul>\n<li>13:00 Germany: German Buba monthly report.<\/li>\n<li>18:00 UK: BoE\u2019s Haldane speech.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/eur_211019_0.png\" alt=\"EURUSD H1\" data-entity-type=\"file\" data-entity-uuid=\"75d4fa5c-4340-4eb6-b24d-38f9d5e2b6d9\" \/><strong><em>Current situation:<\/em><\/strong><\/p>\n<p>Friday\u2019s expectations were met. Geopolitical developments are maintaining the pair\u2019s bullish trend. Having reached fresh highs, a correction was expected. This correction has begun, although the pair is now trading sideways.<\/p>\n<p>On Saturday the 19<sup>th<\/sup> of October, the British parliament passed an amendment forcing Prime Minister Boris Johnson to seek an extension to Brexit. The UK\u2019s exit from the EU drags on. Nevertheless, this is good for the pound. The European Parliament will most likely hold a vote to ratify the Brexit agreement today.<\/p>\n<p>The FOMC has a meeting on the 30<sup>th<\/sup> of October. US economic data is mixed. Vice Chair of the Federal Reserve Richard Clarida said on Friday that the US economy is in good shape, although there are still some evident risks to keep an eye on. According to CME\u2019s FedWatch Tool, there\u2019s an 84% chance of an interest rate reduction. The euro has a week to hit fresh highs and break through the weekly trend line projected from 1.2350.<\/p>\n<p>We\u2019re expecting fresh highs today followed by a rebound to the LB. The pair is currently trading around the trend line, so it will be interesting to see how big the rebound is in order to better understand the bulls\u2019 intentions. There was growth on Friday, so today we should have predicted a Monday v Friday scenario. However, due to the geopolitical situation and the euro crosses, we expect a correction to take place only after hitting fresh highs.<\/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 On Friday the 18th of October, trading on the euro closed up. The bullish phase started in the European session and continued throughout the rest of the day. The euro rose on the back of a broadly weaker dollar, which was put under pressure by the UK\u2019s EU withdrawal agreement. The EURUSD pair [&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-158036","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/158036","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=158036"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/158036\/revisions"}],"predecessor-version":[{"id":158038,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/158036\/revisions\/158038"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=158036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=158036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=158036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}