{"id":91289,"date":"2016-06-14T07:11:55","date_gmt":"2016-06-14T11:11:55","guid":{"rendered":"http:\/\/countingpips.com\/?p=91289"},"modified":"2016-06-14T07:11:55","modified_gmt":"2016-06-14T11:11:55","slug":"expected-extension-of-correction-to-1-1320","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/06\/expected-extension-of-correction-to-1-1320\/","title":{"rendered":"Expected Extension of Correction to 1.1320"},"content":{"rendered":"
June 14, 2016<\/div>
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By Vladislav Antonov, Alpari<\/b><\/p>\n

Previous:<\/em><\/strong><\/p>\n

On Monday the euro closed up against the American dollar. By the close of the American session, the price had corrected from a 1.1232 minimum to 1.1278. From here the bulls lost all of their profit when the market saw information from a new Brexit survey. The survey indicated a rise in those wanting to stay in the EU. The pound\/dollar lifted by 150 points to 1.4319. The euro\/pound cross dropped 60 points to 0.7882. The euro\/dollar dropped to 1.1237. The Guardian later went against the first survey from the ICM, saying that those in favour of Brexit are at 53%.<\/p>\n

Due to a restoral of the crosses, the euro bulls managed to lift to 1.1302.<\/p>\n

Market Expectations:<\/em><\/strong><\/p>\n

After yesterday”s growth by 65 points, a symmetrical triangle formed on the hourly. The triangle is a figure of the rally extension. Due to this I reckon we”ll see a strengthening of the euro to 1.1320. If the pound doesn”t weaken against the dollar today, we really could see the rate drop to 1.1338. There”s no planned significant news which could rock the market.<\/p>

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