{"id":167911,"date":"2020-04-01T09:00:55","date_gmt":"2020-04-01T13:00:55","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=167911"},"modified":"2020-04-01T08:28:47","modified_gmt":"2020-04-01T12:28:47","slug":"eurusd-renewed-drop-to-the-d3-line-on-the-cards","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/04\/eurusd-renewed-drop-to-the-d3-line-on-the-cards\/","title":{"rendered":"EURUSD: renewed drop to the D3 line on the cards"},"content":{"rendered":"<div id=\"inves-1878897714\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">April 1, 2020<\/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 Tuesday the 31st of March, trading on the euro closed slightly down. After dropping to 1.0927, the pair recovered to 1.1039. The bears hit fresh lows following a breakout of the trend line during the Asian session. The rebound occurred on the back of the US Fed\u2019s decision to launch a temporary repurchase agreement facility for foreign central banks.<\/p>\n<p>Day\u2019s news (GMT+3):<\/p>\n<ul>\n<li>10:30 Switzerland: SVME PMI (Mar).<\/li>\n<li>10:50 France: Markit manufacturing PMI (Mar).<\/li>\n<li>10:55 Germany: Markit manufacturing PMI (Mar).<\/li>\n<li>11:00 Eurozone: Markit manufacturing PMI (Mar).<\/li>\n<li>11:30 UK: Markit manufacturing PMI (Mar).<\/li>\n<li>12:00 Eurozone: unemployment rate (Feb).<\/li>\n<li>15:15 US: ADP employment change (Mar).<\/li>\n<li>16:45 US: Markit manufacturing PMI (Mar).<\/li>\n<li>17:00 US: ISM manufacturing PMI (Mar), construction spending (Feb).<\/li>\n<li>17:30 US: EIA crude oil stocks change (27 Mar).<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/alpari.com\/storage\/inline-images\/%D0%B5%D0%B2%D1%80%D0%BE_39.png\" alt=\"Pic. 1\" data-entity-type=\"file\" data-entity-uuid=\"8b3948ea-6e69-4491-b117-123f99500a9b\" \/>Current situation:<\/p>\n<p>As expected, the pair dropped to the D3 line, subsequently rebounding to the LB balance line. The coronavirus rages on across the world. Meanwhile, the US Fed is taking measures to increase the dollar\u2019s liquidity, which is having a negative effect on the currency itself. Regardless, the situation in Europe isn\u2019t any better, and buying the euro isn\u2019t an enticing prospect either.<\/p>\n<p>Since the rate bounced from the D3 line without any divergence, today we expect the pair to fall from the LB line and revisit yesterday\u2019s low with a new test of the D3 line. The technicals indicate growth, but since the pair is trading beneath the LB line, and there\u2019s no divergence on the AO indicator, it\u2019s reasonable to expect a test of 1.0927. We could be mistaken, but we think it better to be in the bears\u2019 camp for today. Once the pair hits fresh lows, markets will begin preparing for Friday\u2019s NFP report.<\/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 Tuesday the 31st of March, trading on the euro closed slightly down. After dropping to 1.0927, the pair recovered to 1.1039. The bears hit fresh lows following a breakout of the trend line during the Asian session. The rebound occurred on the back of the US Fed\u2019s decision to launch a temporary [&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-167911","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/167911","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=167911"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/167911\/revisions"}],"predecessor-version":[{"id":167912,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/167911\/revisions\/167912"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=167911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=167911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=167911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}