{"id":77138,"date":"2015-08-20T06:43:34","date_gmt":"2015-08-20T10:43:34","guid":{"rendered":"http:\/\/countingpips.com\/?p=77138"},"modified":"2015-08-20T07:28:21","modified_gmt":"2015-08-20T11:28:21","slug":"euro-gains-traction-following-dovish-fomc-minutes","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/08\/euro-gains-traction-following-dovish-fomc-minutes\/","title":{"rendered":"Euro Gains Traction Following Dovish FOMC Minutes"},"content":{"rendered":"<div id=\"inves-466869621\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 20, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>The EUR\/USD is testing trend line resistance as it appears that Wednesday\u2019s FOMC report has convince traders that the Fed is further away from a tightening that previously though.\u00a0 The lack of evidence for a tightening has pushed the yield differential in favor of the Euro and eroded sentiment in the greenback.<\/p>\n<p>The Fed said they had been leaning toward a tightening in July but had yet to see sufficient evidence to push the committee toward a rate liftoff. The recent events from China make September a difficult call. While participants cheered the improvement in the economy since the weak Q1, validating their forecasts, a few were disappointed that growth was still lower than had been projected earlier in the year.<\/p>\n<p>On inflation, it\u2019s still expected to pick up, although some saw downside risks due to economic and financial developments abroad.\u00a0 With oil prices tumbling and grains such as soybeans and corn hitting 52-week lows, the headline inflation number will have a difficult time gaining traction.<\/p>\n<p>The technicals are relatively neutral but current price action favors a positive Euro.\u00a0 The EUR\/USD exchange rate is testing trend line resistance near a downward sloping trend line that comes in near 1.1175.\u00a0 Support is seen near the 50-day moving average at 1.1075.\u00a0 Momentum on the currency pair is positive with the MACD (moving average convergence divergence) index printing in the black with an upward sloping trajectory.<\/p>\n<p><a href=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/08\/eur-082015.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-8769\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/08\/eur-082015-300x196.jpg\" alt=\"eur-082015\" width=\"300\" height=\"196\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p><div id=\"inves-1502377254\" 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>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime The EUR\/USD is testing trend line resistance as it appears that Wednesday\u2019s FOMC report has convince traders that the Fed is further away from a tightening that previously though.\u00a0 The lack of evidence for a tightening has pushed the yield differential in favor of the Euro and eroded sentiment in the greenback. [&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-77138","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77138","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=77138"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77138\/revisions"}],"predecessor-version":[{"id":77140,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77138\/revisions\/77140"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=77138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=77138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=77138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}