{"id":96446,"date":"2016-10-06T07:30:38","date_gmt":"2016-10-06T11:30:38","guid":{"rendered":"http:\/\/countingpips.com\/?p=96446"},"modified":"2016-10-06T06:57:42","modified_gmt":"2016-10-06T10:57:42","slug":"eurusd-the-flat-could-continue-into-friday","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/10\/eurusd-the-flat-could-continue-into-friday\/","title":{"rendered":"EUR\/USD: the flat could continue into Friday"},"content":{"rendered":"<div id=\"inves-386992737\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">October 6, 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>On Wednesday the euro\/dollar closed three points higher than the closing price of Tuesday. The euro was bobbing around near the LB throughout the day. The US stats held back any revival for GBP\/USD and EUR\/USD.<\/p>\n<p>The data from ISM showed that business activity in the service sector for September had risen to 57.1 (forecasted: 53.0, previous: 51.4). August\u2019s manufacturing orders rose 0.2% (forecasted: -0.1%, previous: 1.4%).<\/p>\n<p><strong><em>Market expectations:<\/em><\/strong><\/p>\n<p>On Thursday, trader attention is set to switch to Friday\u2019s NFP. The data from the ADP on Wednesday did not match market expectations. Employment rose only 154k in September (forecasted: 166k previous: 175k). Despite the strong data from the ISM and manufacturing orders, the weak ADP report should have held the dollar back.<\/p><div id=\"inves-2446437941\" 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 ECB is publishing minutes from its monetary policy meeting today. We could see a spike of volatility for the euro during this time. My intraday target is 1.1234.<\/p>\n<p><strong><em>Day\u2019s News (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>09:00, German industrial order changes in August;<\/li>\n<li>10:15, Swiss CPI for September;<\/li>\n<li>11:10, Eurozone business activeness in retail for September;<\/li>\n<li>11:30, UK mortgage lending without those for acquiring or renovating houses in Q2 of 2016;<\/li>\n<li>14:30, ECB monetary policy minutes;<\/li>\n<li>15:30, Canadian planned dismissals in September from Challenger;<\/li>\n<li>15:30, Canadian construction permits in August and US initial unemployment benefit applications;<\/li>\n<li>17:30, natural gas reserve changes for week ending 2<sup>nd<\/sup> October;<\/li>\n<li>18:50, BoC\u2019s Wilkins to speak.<\/li>\n<\/ul>\n<p><strong><em>Technical Analysis:<\/em><\/strong><\/p>\n<p>Intraday forecast: minimum: 1.1189, maximum: 1.1234, close: 1.1221.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2016\/10\/eur_061016.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Euro\/dollar rate on the hourly. Source: TradingView<\/p>\n<p>As I reckoned, the euro\/dollar spent the day in a sideways. The target was hovering around the balance line between the 90<sup>th<\/sup> and 45<sup>th<\/sup> degrees. In my forecast I\u2019ve gone for the price remaining in a 1.1185-1.1240 range until Friday.<\/p>\n<p>You probably thought that maybe the price will leave this range today. Maybe after the ECB\u2019s minutes come out. For this, though, there is another range: 1.1160-1.1270.<\/p>\n<div class=\"s_invisible_yes\"><strong>Source: alpari.com,<\/strong> &#8220;<a href=\"http:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/16141_06102016\/\">EUR\/USD: the flat could continue into Friday<\/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<div class=\"s_invisible_yes\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Gabriel Ojimadu, Alpari Previous: On Wednesday the euro\/dollar closed three points higher than the closing price of Tuesday. The euro was bobbing around near the LB throughout the day. The US stats held back any revival for GBP\/USD and EUR\/USD. The data from ISM showed that business activity in the service sector for September had [&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-96446","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/96446","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=96446"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/96446\/revisions"}],"predecessor-version":[{"id":96447,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/96446\/revisions\/96447"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=96446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=96446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=96446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}