{"id":65600,"date":"2014-12-22T06:29:59","date_gmt":"2014-12-22T11:29:59","guid":{"rendered":"http:\/\/countingpips.com\/?p=65600"},"modified":"2014-12-22T06:39:05","modified_gmt":"2014-12-22T11:39:05","slug":"eurusd-sell-again-on-upticks","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/12\/eurusd-sell-again-on-upticks\/","title":{"rendered":"EUR\/USD: Sell Again On Upticks"},"content":{"rendered":"<div id=\"inves-3588049678\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 22, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/growthaces.com\">http:\/\/growthaces.com<\/a><\/p>\n<p><strong><span style=\"text-decoration: underline;\"><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">G<\/span><\/span><\/span><\/strong><strong><span style=\"text-decoration: underline;\"><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">ROWTHACES.COM Trading Positions<\/span><\/span><\/span><\/strong><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>USD\/JPY: <\/strong>long at 116.50, target 120.90, stop-loss 119.10<\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>USD\/CAD: <\/strong>long at 1.1570, target 1.1740, stop-loss 1.1540<\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>EUR\/CHF: <\/strong>long at 1.2025, target 1.2090, stop-loss 1.1995<\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>GBP\/JPY: <\/strong>long at 186.70, target 189.10, stop-loss 185.80<\/span><\/span><\/p><div id=\"inves-2230488156\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p><strong><span style=\"text-decoration: underline;\"><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">GROWTHACES.COM Pending Orders<\/span><\/span><\/span><\/strong><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>EUR\/USD: <\/strong>sell at 1.2360, target 1.2180, stop-loss 1.2410<\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>USD\/CHF: <\/strong>buy at 0.9735, target 0.9890, stop-loss 0.9690<\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>EUR\/GBP: <\/strong>sell at 0.7880, target 0.7770, stop-loss 0.7910<\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>EUR\/JPY: <\/strong>buy at 146.30, target 148.00, stop-loss 145.70<\/span><\/span><\/p>\n<p>We encourage you to visit our <a href=\"http:\/\/growthaces.com\/\" target=\"_blank\" rel=\"nofollow\">website<\/a> <a href=\"http:\/\/growthaces.com\/\" target=\"_blank\" rel=\"nofollow\">http:\/\/growthaces.com<\/a> and subscribe to our newsletter to receive trading positions summary for major pairs and crosses.<\/p>\n<p><strong><span style=\"text-decoration: underline;\"><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">EUR\/USD: Sell Again On Upticks<\/span><\/span><\/span><\/strong><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">(profit taken, looking to get short again)<\/span><\/span><\/p>\n<ul type=\"disc\">\n<li><span style=\"font-family: Calibri;\"><span style=\"font-size: medium;\"><strong>Philadelphia Federal Reserve Bank President Charles Plosser<\/strong> dissented against the Fed\u2019s decision Wednesday to say it will be \u201cpatient\u201d on raising interest rates and said in a statement the <strong>Federal Reserve should have left itself more flexibility to raise interest rates sooner should the U.S. economy continue to improve<\/strong>. He added: <em>\u201cThe failure to adjust forward guidance to reflect the improvement in the outlook for the economy and its continued reliance on the passage of time as a governing factor in the decision to increase rates were the underlying factors warranting my dissent. <strong>I believe that waiting too long to initiate a gradual increase in rates could result in the need for more aggressive policy in the future, which could lead to unnecessary volatility and instability.<\/strong>\u201d<\/em><\/span><\/span><\/li>\n<li><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>Minneapolis Fed President Narayana Kocherlakota<\/strong> also dissented against the Fed\u2019s decision Wednesday. He feels that by signaling an intent to normalize monetary policy in mid-2015 the Fed is creating \u201cunacceptable\u201d downside risks to the inflation outlook. In his opinion <strong>the statement should have included a pledge to maintain administered rates at the zero bound until inflation and inflation expectations surpass the Fed\u2019s 2% target.<\/strong><\/span><\/span><\/li>\n<li><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>Richmond Fed President Jeffrey Lacker<\/strong> said he supported the central bank\u2019s addition of the word \u201cpatient\u201d to describe its interest rate guidance in its policy statement this week. Lacker said he <strong>wants to see more data before he would support the hike.<\/strong><\/span><\/span><\/li>\n<li><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>San Francisco Federal Reserve Bank President John Williams<\/strong> mentioned that the shift to the statement\u2019s use of the word \u201cpatient\u201d from \u201cconsiderable time\u201d forms a bridge to the eventual date that rate normalization begins. In his opinion U<strong>.S. inflation will likely stay \u201cwell below\u201d the Fed\u2019s 2% target next year, but that won\u2019t stop the central bank from pressing ahead with plans to raise interest rates.<\/strong><\/span><\/span><\/li>\n<li><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">Hawkish comments from the Fed\u2019s officials (except from Kocherlakota) strengthened the USD.<strong> The EUR\/USD broke below 28-month low on Friday, in line with our expectations. The rate fell to 1.2220 (new 2104 low).<\/strong> Today the USD gave back some of Friday\u2019s gains <strong>and the rate did not reach the target of our short position at 1.2180. The EUR\/USD rose to the lowered stop-loss level of our short position, but we took quite significant profit on the position opened at 1.2440 and closed at 1.2260.<\/strong><\/span><\/span><\/li>\n<li><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>The EUR\/USD will likely remain under pressure of divergences between monetary policies of the Fed and the ECB.<\/strong> The market is becoming more convinced that the ECB will announce sovereign bond buying or quantitative easing at their January 22 meeting and is pricing in the start of the Fed tightening cycle for June. <\/span><\/span><\/li>\n<li><strong><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">We are looking to get short again near 1.2360. If our sell order is filled, the target will be at 1.2180.<\/span><\/span><\/strong><\/li>\n<\/ul>\n<p><strong><span style=\"font-family: Calibri; font-size: medium;\"> <img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/growthaces.com\/sites\/default\/files\/eurusd_22122014.png\" alt=\"EUR\/USD Daily Chart\" width=\"500\" height=\"350\" \/><\/span><\/strong><\/p>\n<p><span style=\"text-decoration: underline;\"><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">Significant technical analysis\u2019 levels: <\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">Resistance: 1.2302 (high Dec 19), 1.2352 (high Dec 18), 1.2393 (21-dma)<\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">Support: 1.2220 (low Dec 22), 1.2167 (low Aug 3, 2012), 1.2133 (low Aug 2, 2012)<\/span><\/span><\/p>\n<p><strong><span style=\"text-decoration: underline;\"><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">USD\/CAD: Canada\u2019s CPI Cooled Expectations For A Rate Hike<\/span><\/span><\/span><\/strong><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">(stay long)<\/span><\/span><\/p>\n<ul type=\"disc\">\n<li><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>Canada\u2019s inflation rate pulled back in November to 2.0% yoy from October\u2019s strong 2.4% yoy,<\/strong> falling short of the median forecast of 2.2% yoy. A 5.9% drop in gasoline prices was the main driver of the slower yearly rise in overall inflation.<\/span><\/span><\/li>\n<li><span style=\"font-family: Calibri;\"><span style=\"font-size: medium;\"><strong>Core inflation<\/strong>, which strips out volatile items and is closely watched by the Bank of Canada, <strong>pulled back to 2.1% yoy<\/strong>, which was also short of expectations for a rise to 2.4% yoy.<\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: Calibri;\"><span style=\"font-size: medium;\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/growthaces.com\/sites\/default\/files\/ca_inflation_22122014.png\" alt=\"Canada's Inflation And BOC Rate\" width=\"480\" height=\"288\" \/><\/span><\/span><\/p>\n<ul type=\"disc\">\n<li><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\"><strong>Canadian retail sales were unchanged in October from September<\/strong> after a rise by 0.8% mom in the previous month. A fall by 0.2% mom was expected. Sales at motor vehicle and parts dealers fell 0.6% mom, while gasoline stations declined 1.1% mom. Retail sales excluding autos and parts were up by 0.2% mom.<\/span><\/span><\/li>\n<li><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">Inflation cooled expectations for a rate hike. <strong>The USD\/CAD jumped to 1.1632 after CPI reading but returned near 1.1600 soon. We keep our long position opened at 1.1570. Our target is 1.1740, above highs from July 2009.<\/strong><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: Calibri; font-size: medium;\"> <img decoding=\"async\" src=\"http:\/\/growthaces.com\/sites\/default\/files\/usdcad_22122014.png\" alt=\"USD\/CAD Daily Chart\" \/><\/span><\/p>\n<p><span style=\"text-decoration: underline;\"><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">Significant technical analysis\u2019 levels: <\/span><\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">Resistance: 1.1674 (high Dec 15), 1.1680 (high Jul 9, 2009), 1.1725 (high Jul 8, 2009)<\/span><\/span><\/p>\n<p><span style=\"font-size: medium;\"><span style=\"font-family: Calibri;\">Support: 1.1536 (38.2% of 1.1314-1.1674), 1.1516 (low Dec 12), 1.1448 (low Dec 11)<\/span><\/span><\/p>\n<p><a href=\"http:\/\/growthaces.com\/\" target=\"_blank\" rel=\"nofollow\">GrowthAces.com<\/a> is an independent macroeconomic research consultancy for traders. We offer you daily forex analysis with forex trading signals. The service covers forex forecasts and signals for following currencies: EUR, USD, GBP, JPY, CAD, CHF, AUD, NZD as well as emerging markets. Our subscribers should expect to receive: forex trading strategies, latest price changes, support and resistance levels, buy and sell forex signals and early heads-up about the potential fx trading opportunities. <a href=\"http:\/\/growthaces.com\/\" target=\"_blank\" rel=\"nofollow\">GrowthAces.com<\/a> offers also daily macroeconomic fundamental analysis that enables you to see fundamental changes on forex market. We provide in-depth analysis of economic indicators resulting from knowledge, experience, advanced statistics and cutting-edge quantitative tools.<\/p>\n<p>We encourage you to subscribe to our daily forex newsletter on <a href=\"http:\/\/growthaces.com\/\" target=\"_blank\" rel=\"nofollow\">http:\/\/growthaces.com<\/a> to get daily analysis for forex traders. We intend that our consultancy should help you make better decisions. At <a href=\"http:\/\/growthaces.com\/\" target=\"_blank\" rel=\"nofollow\">GrowthAces.com<\/a> we give our best to you \u2013 always greatest quality, usefulness and profitability.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by http:\/\/growthaces.com GROWTHACES.COM Trading Positions USD\/JPY: long at 116.50, target 120.90, stop-loss 119.10 USD\/CAD: long at 1.1570, target 1.1740, stop-loss 1.1540 EUR\/CHF: long at 1.2025, target 1.2090, stop-loss 1.1995 GBP\/JPY: long at 186.70, target 189.10, stop-loss 185.80 GROWTHACES.COM Pending Orders EUR\/USD: sell at 1.2360, target 1.2180, stop-loss 1.2410 USD\/CHF: buy at 0.9735, target 0.9890, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-65600","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/65600","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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=65600"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/65600\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=65600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=65600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=65600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}