{"id":92463,"date":"2016-07-06T07:37:35","date_gmt":"2016-07-06T11:37:35","guid":{"rendered":"http:\/\/countingpips.com\/?p=92463"},"modified":"2016-07-06T07:37:35","modified_gmt":"2016-07-06T11:37:35","slug":"euro-at-inversion-zone","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/07\/euro-at-inversion-zone\/","title":{"rendered":"Euro at Inversion Zone"},"content":{"rendered":"<div id=\"inves-3987214789\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 6, 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 rate closed down against the USD. The crash of the GBP to a 31-year minimum raised demand for safe assets: JPY, gold and US state bonds. By the close of the day, the euro was at 1.1062 dollars and the pound was down against the dollar to levels unseen since 1985.<\/p>\n<p><strong><em>Market Expectations:<\/em><\/strong><\/p>\n<p>In Asia the pound\/dollar fell to 1.2791. After a 4% fall it tried to muster a fight back to 1.28. At 7:35 EET, the GBP was at 1.2882 dollars. Today is Wednesday. Trader attention will be on the US Fed minutes which are out at 21:00 EET. Then the attention will switch to the June US labour market report which is out at 15:30 EET on Friday.<\/p>\n<p>On Wednesday the euro\/dollar is expected to come out with a V formation with a minimum at 1.1028. It could be lower. Here we need to keep an eye on the euro\/pound cross. If it starts correcting, the pound will be in a winning situation and it will start a correctional movement after yesterday&#8221;s crash. The resistance level is at 1.1088.<\/p><div id=\"inves-2240110453\" 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><em>Day&#8221;s News (EET):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>11:10, business activity index in the retail sector for June.<\/li>\n<li>13:30, ECB&#8221;s Peter Pratt to speak;<\/li>\n<li>15:30, US and Canadian May external trend. ECB vice president Constancio to speak;<\/li>\n<li>16:45, US definitive service sector business activity index for June;<\/li>\n<li>17:00, US business activity throughout June in the non-manufacturing sector from ISM;<\/li>\n<li>18:00, ECB&#8221;s Mersch to speak;<\/li>\n<li>21:00, US Fed minutes.<\/li>\n<\/ul>\n<p><strong><em>Technical Analysis:<\/em><\/strong><\/p>\n<p>Intraday forecast: minimum: 1.1028, maximum: 1.1065, close: 1.1052.<\/p>\n<p style=\"text-align: center;\"><img decoding=\"async\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2016\/07\/eur_060716.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Euro\/dollar rate on the hourly. Source: TradingView<\/p>\n<p>The LB couldn&#8221;t hold back the euro from falling. Due to a general strengthening of the USD, the euro fell to 1.1035, including today.<\/p>\n<p>The price is in the zone between the 112<sup>th<\/sup> and 135<sup>th<\/sup> degrees. This is an inversion zone, so I expect a price rebound from the 135<sup>th<\/sup> degree. We could&#8221;ve said that a fall to 1.1027 is not going to take place, but the euro\/pound is going to correct. If my conclusions turn out to be correct, it will pile pressure on the euro\/dollar. In this case, the buyers will need to retreat. From here we could risk buying euro before Friday&#8221;s NFP. Moreover since it is being supported via the minimum from 30<sup>th<\/sup> June.<\/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><\/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<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Vladislav Antonov, Alpari Previous: The euro rate closed down against the USD. The crash of the GBP to a 31-year minimum raised demand for safe assets: JPY, gold and US state bonds. By the close of the day, the euro was at 1.1062 dollars and the pound was down against the dollar to levels [&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-92463","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/92463","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=92463"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/92463\/revisions"}],"predecessor-version":[{"id":92479,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/92463\/revisions\/92479"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=92463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=92463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=92463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}