{"id":96390,"date":"2016-10-05T05:46:22","date_gmt":"2016-10-05T09:46:22","guid":{"rendered":"http:\/\/countingpips.com\/?p=96390"},"modified":"2016-10-05T05:46:22","modified_gmt":"2016-10-05T09:46:22","slug":"eurusd-triangle-complete-on-the-daily","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/10\/eurusd-triangle-complete-on-the-daily\/","title":{"rendered":"EUR\/USD: triangle complete on the daily"},"content":{"rendered":"<div id=\"inves-820557087\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 5, 2016<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><b>By\u00a0<\/b><strong>Gabriel Ojimadu<\/strong><b>, Alpari<\/b><\/p>\n<p><strong><em>Previous:<\/em><\/strong><\/p>\n<p>By the end of Tuesday\u2019s trades, the euro managed to win back a large part of its losses. First it dropped to 1.1138 against the USD after Fed representative Jeffrey Lacker remarked that the regulator should quit stalling and the FOMC members should lift rates as soon as possible.<\/p>\n<p>During the American session the euro\/dollar hit 1.1239. The euro u-turned on news from Bloomberg that the ECB could wrap up its bond purchasing program earlier than planned.<\/p>\n<p>The ECB\u2019s Draghi announced that the bank has been discussing this and the euro\/dollar corrected to 1.1177.<\/p>\n<p><strong><em>Market expectations:<\/em><\/strong><\/p><div id=\"inves-3046261054\" 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>The euro rose to 1.1228 in Asia and is trading at 1.1217. The pair is still trading in a sideways. I\u2019ve not bothered with a forecast since the situation is unclear for me. On the daily a pinbar has formed and it is indicating the strengthening of the euro. On the other hand, the pound is still weak and with its fall it could hasten euro sales.<\/p>\n<p><strong><em>Day\u2019s News (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>10:55, German definitive service sector PMI for September;<\/li>\n<li>11:00, Eurozone definitive service sector PMI for September;<\/li>\n<li>11:30, UK service sector PMI for September;<\/li>\n<li>12:00, Eurozone retail sales in August;<\/li>\n<li>15:15, US definitive service sector PMI for September (ADP);<\/li>\n<li>15:30, Canadian and US balance of trade in August;<\/li>\n<li>16:45, US definitive service sector PMI for September (Markit);<\/li>\n<li>17:00, US ISM index for non-manufacturing activities in September and manufacturing orders in August;<\/li>\n<li>17:30, US oil reserve changes for the week ending 2<sup>nd<\/sup> October.<\/li>\n<\/ul>\n<p><strong><em>Technical Analysis:<\/em><\/strong><\/p>\n<p>Intraday forecast: minimum: n\/a, maximum: n\/a, close: n\/a.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2016\/10\/eur_051016.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Euro\/dollar rate on the hourly. Source: TradingView<\/p>\n<p>On Tuesday the euro\/dollar strayed from the balance line to 1.1138 and it returned back to it after the news from Bloomberg. The intra-day movements on Tuesday were identical to those of Friday. After yesterday\u2019s rally, today the euro could spend the day in a sideways.<\/p>\n<p>I haven\u2019t bothered with a forecast. For me the situation isn\u2019t clear. Although after a break from 1.1138 on the daily, a triangle has formed. If the triangle comes off, we should see a depart upwards. For this it needs to strengthen above 1.1275.<\/p>\n<div class=\"s_invisible_yes\">Source: <strong>alpari.com<\/strong>, &#8220;<a href=\"http:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/16115_05102016\/\">EUR\/USD: triangle complete on the daily<\/a>&#8220;<\/div>\n<div class=\"s_invisible_yes\"><\/div>\n<div class=\"s_invisible_yes\"><\/div>\n<div class=\"s_invisible_yes\"><\/div>\n<div class=\"s_invisible_yes\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Gabriel Ojimadu, Alpari Previous: By the end of Tuesday\u2019s trades, the euro managed to win back a large part of its losses. First it dropped to 1.1138 against the USD after Fed representative Jeffrey Lacker remarked that the regulator should quit stalling and the FOMC members should lift rates as soon as possible. During the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-96390","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/96390","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=96390"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/96390\/revisions"}],"predecessor-version":[{"id":96391,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/96390\/revisions\/96391"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=96390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=96390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=96390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}