{"id":92861,"date":"2016-07-14T05:45:41","date_gmt":"2016-07-14T09:45:41","guid":{"rendered":"http:\/\/countingpips.com\/?p=92861"},"modified":"2016-07-14T05:45:41","modified_gmt":"2016-07-14T09:45:41","slug":"eurodollar-could-shift-to-1-1140","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/07\/eurodollar-could-shift-to-1-1140\/","title":{"rendered":"Euro\/dollar could shift to 1.1140"},"content":{"rendered":"
July 14, 2016<\/div>
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By Gabriel Ojimadu, Alpari<\/b><\/p>\n

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

Expectations of a bottoming out yesterday came off in full. The GBP corrected before the Bank of England convened. Due to a rise in the euro\/pound, the euro\/dollar rose to 1.1119.<\/p>\n

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

The euro continued to rise in Asia 17 points against the dollar. It would be better for the pair to consolidate than to try and rise during the Asian session. A fright may be caused due to a possible euro weakening against the dollar from trade opening.<\/p>\n

The key event of today is the BoE meeting. If the Bank leaves the interest rate at 0.5%, the pound could strengthen against the dollar to 1.3480. The euro\/pound cross will flip upside down, with the euro\/dollar likely to fall. As per my forecast, I expect to see a rise in the pair to 1.1140. I”ve marked out two important levels as supports 1.1085 (LB at 11:00 EET) and 1.1066 (45 degrees).<\/p>

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Day”s News (EET):<\/em><\/strong><\/p>\n