{"id":92108,"date":"2016-06-29T07:08:23","date_gmt":"2016-06-29T11:08:23","guid":{"rendered":"http:\/\/countingpips.com\/?p=92108"},"modified":"2016-06-29T07:08:23","modified_gmt":"2016-06-29T11:08:23","slug":"expected-continuation-of-upward-correction","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/06\/expected-continuation-of-upward-correction\/","title":{"rendered":"Expected Continuation of Upward Correction"},"content":{"rendered":"<div id=\"inves-4106005789\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">June 29, 2016<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><b>By Vladislav Antonov, Alpari<\/b><\/p>\n<p><strong><em>Previous:<\/em><\/strong><\/p>\n<p>The euro\/dollar on Tuesday closed slightly up. Support for the pair came from a weakening dollar. Traders are continuing to analyse the consequences of Brexit. The euro closed at 1.1063 where it still sits trading.<\/p>\n<p><strong><em>Market Expectations:<\/em><\/strong><\/p>\n<p>Market participants are waiting for news from the EU leaders summit taking place in Brussels. News is slow and what there is isn&#8221;t enough to have a real effect on the market. Whilst there&#8221;s no decision made regarding the UK, I&#8221;ll risk saying the euro will again strengthen, this time to 1.1123.<\/p>\n<p><strong><em>Day&#8221;s News (EET):<\/em><\/strong><\/p><div id=\"inves-349226887\" 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<ul class=\"list list_type_disc\">\n<li>9:00, German consumer confidence from Gfk for June. UK housing price index for June from Nationwide;<\/li>\n<li>11:30, UK changes in credit financing for individuals in May;<\/li>\n<li>15:30, US base CPI according to personal consumption expenditure in May, consumer expenditure in May and consumer incomes;<\/li>\n<li>17:00, US changes in uncompleted housing sales in May;<\/li>\n<li>17:30, US oil reserves for the week ending 26<sup>th<\/sup> June;<\/li>\n<li>18:00, German preliminary CPI for June;<\/li>\n<li>22:30, US bank stress test results.<\/li>\n<\/ul>\n<p><strong><em>Technical Analysis:<\/em><\/strong><\/p>\n<p>Intraday forecast: minimum: 1.1049 (current Asian), maximum: 1.1123, close: 1.1095.<\/p>\n<p style=\"text-align: center;\"><img decoding=\"async\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2016\/06\/eur_290616.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Euro\/dollar rate on the hourly. Source: TradingView<\/p>\n<p>The euro\/dollar has restored to the 112<sup>th<\/sup> degree and from there a downward correction followed. Above the balance line a triangle in a triangle is forming. I expect the price to exit upwards from there. I fully understand that the fluctuations up and down will persist whilst the situation with the UK still hangs in the balance. However, I reckon we&#8221;re to see an upwards movement of the euro\/dollar as part of a correction after Friday, 24<sup>th<\/sup> June&#8221;s fall. My forecast for growth is to cancel with a close of the hourly candle below 1.1030.<\/p>\n<p><em>Earn from currency market fluctuations by investing in a <\/em><a href=\"http:\/\/www.alpari.com\/en\/investor\/investment_funds\/#forex\"><em>Forex Investment Portfolio<\/em><\/a><em>.<\/em><\/p>\n<p>Article submitted by <a href=\"http:\/\/alpari.com\/en\/\">Alpari.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Vladislav Antonov, Alpari Previous: The euro\/dollar on Tuesday closed slightly up. Support for the pair came from a weakening dollar. Traders are continuing to analyse the consequences of Brexit. The euro closed at 1.1063 where it still sits trading. Market Expectations: Market participants are waiting for news from the EU leaders summit taking place [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-92108","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/92108","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=92108"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/92108\/revisions"}],"predecessor-version":[{"id":92128,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/92108\/revisions\/92128"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=92108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=92108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=92108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}