{"id":59694,"date":"2014-09-02T09:56:56","date_gmt":"2014-09-02T13:56:56","guid":{"rendered":"http:\/\/countingpips.com\/?p=59694"},"modified":"2014-09-02T09:56:56","modified_gmt":"2014-09-02T13:56:56","slug":"the-eurusd-declining-the-usdjpy-approaching-highs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/09\/the-eurusd-declining-the-usdjpy-approaching-highs\/","title":{"rendered":"The EURUSD Declining, The USDJPY Approaching Highs"},"content":{"rendered":"
September 2, 2014<\/div>
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The EURUSD Declining<\/strong><\/p>\n

Expecting results of European Central Bank`s meeting, the EURUSD trades without much enthusiasm. Yesterday, reduced liquidity was also associated with a holiday in the United States. Initially, the pair rose to 1.3145, and later retreated to 1.3127, and in the Asian session fell to 1.3114. A breakout of the support around 1.3114 \/ 00 will lead to decrease to 1.3170. Ahead of results of the ECB meeting the euro may correct above.<\/p>\n

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The GBPUSD Resumes a Decline<\/strong><\/p>\n

Despite oversold, the GBPUSD was unable to develop an upward correction. Yesterday’s growth was halted by the level 1.6643, rebounded from which the pair fell to the support near 1.6605. In the Asian session, the decline continued, and for now the pound has fallen to 1.6555. Breaking through the current lows at 1.6536 will lead to testing the 65th figure. For easing the downward pressure the British currency should overcome the resistance around 1.6643.<\/p>\n

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The USDCHF Tests 0.9206<\/strong><\/p>\n

The “USD bulls” continue showing stubbornness that allowed the USDCHF to retreat from the local support around 0.9176 and to increase to 0.9197. Today, they tested the 0.9206 level that was able to hold their onslaught, and now the US dollar is trading below the 92nd figure again. Its inability to consolidate above can trigger profit-taking with a further decline to 0.9138\u20130.9100. The dollar needs to break the resistance around 0.9206\u20130.9218 to continue growing.<\/p>

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The USDJPY Approaching Highs<\/strong><\/p>\n

The Japanese yen remains under pressure due to which the US dollar in pair with it has continued growing, tested the 104.88 level for now. Thus, the pair is approaching steadily last and current years` highs at the 105.44 level where “bears” can become active. This also should not be excluded even after testing the 105th figure. The proximity of highs does not inspire to buy the pair at the current levels. It should also be noted that reports on ADP employment in the United States and in non-farm sector can have an impact on the current situation in the USDJPY, so prior to their publication it is better to take profit on long positions.<\/p>\n

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provided by IAFT<\/a><\/p>\n

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The EURUSD Declining Expecting results of European Central Bank`s meeting, the EURUSD trades without much enthusiasm. Yesterday, reduced liquidity was also associated with a holiday in the United States. Initially, the pair rose to 1.3145, and later retreated to 1.3127, and in the Asian session fell to 1.3114. A breakout of the support around 1.3114 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-59694","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59694","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=59694"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59694\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=59694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=59694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=59694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}