{"id":82900,"date":"2015-12-23T06:48:59","date_gmt":"2015-12-23T11:48:59","guid":{"rendered":"http:\/\/countingpips.com\/?p=82900"},"modified":"2015-12-23T06:48:59","modified_gmt":"2015-12-23T11:48:59","slug":"euro-consolidates-in-tight-range","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/12\/euro-consolidates-in-tight-range\/","title":{"rendered":"Euro Consolidates in Tight Range"},"content":{"rendered":"<div id=\"inves-952861915\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 23, 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 drifting lower, making new intraday lows under 1.0920. The pair Tuesday logged a one-week peak at 1.0984 before losing upside traction. The Fed\u2019s promise for gradual data-dependent tightening suggests that the dollar won\u2019t see runaway gains, and December is still looking likely to the biggest monthly loss the greenback has seen since April. Interest rate differentials have rebounded substantially over the past 3-weeks ever since Draghi failed to deliver to market expectations when cutting the discount rate and easing monetary policy.<\/p>\n<p>The EUR\/USD is forming a bull flag pattern which is generally considered a continuation pattern that pauses and refreshes.\u00a0 Prices broke out and have since consolidated over the past few trading sessions. EUR\/USD resistance is marked at 1.1050 and 1.1060, which coincide with the 200- and 100-day moving averages, both of which have near horizontal profiles in reflection of the broadly sideways price action. Target support is seen near the Dec-7 low at 1.0796.\u00a0 Momentum on the currency pair remains positive with the MACD (moving average convergence divergence) index printing in the black with an upward sloping trajectory.\u00a0 The RSI (relative strength index) on the other hand reflects consolidation as it is printing a reading of 55, which is in the middle of the neutral range.<\/p>\n<p><a href=\"http:\/\/blog.forextime.com\/wp-content\/uploads\/2015\/12\/eur-122315.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-10240\" src=\"http:\/\/blog.forextime.com\/wp-content\/uploads\/2015\/12\/eur-122315-300x195.jpg\" alt=\"eur-122315\" width=\"300\" height=\"195\" \/><\/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>\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","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime The EUR\/USD is drifting lower, making new intraday lows under 1.0920. The pair Tuesday logged a one-week peak at 1.0984 before losing upside traction. The Fed\u2019s promise for gradual data-dependent tightening suggests that the dollar won\u2019t see runaway gains, and December is still looking likely to the biggest monthly loss 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-82900","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/82900","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=82900"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/82900\/revisions"}],"predecessor-version":[{"id":82902,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/82900\/revisions\/82902"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=82900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=82900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=82900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}