{"id":97642,"date":"2016-11-02T07:06:45","date_gmt":"2016-11-02T11:06:45","guid":{"rendered":"http:\/\/countingpips.com\/?p=97642"},"modified":"2016-11-02T07:06:45","modified_gmt":"2016-11-02T11:06:45","slug":"eurusd-expected-correction-from-1-1067-1-1093","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/11\/eurusd-expected-correction-from-1-1067-1-1093\/","title":{"rendered":"EUR\/USD: expected correction from 1.1067-1.1093"},"content":{"rendered":"<div id=\"inves-2057545919\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 2, 2016<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By\u00a0Gabriel Ojimadu, Alpari<\/strong><\/p>\n<p><strong><em>Previous:<\/em><\/strong><\/p>\n<p>On Tuesday by the end of trades the euro\/dollar had risen 79 points and closed at 1.1056. The buyers switched into attack after the publication of weak stats from the UK. During the US session the growth hastened due to polls regarding the US presidential elections. The results of a survey poll showed 45.2% are ready to vote Trump and 44.5% are for Clinton. After this the dollar couldn\u2019t be helped by positive stats from the ISM which showed that business activity in the manufacturing sector was up in October from 51.5 to 51.9 (forecasted: 51.7).<\/p>\n<p><strong><em>Market expectations:<\/em><\/strong><\/p>\n<p>The euro\/dollar is trading at around 1.1069. At the moment of writing this analysis, the price has reached the 112<sup>th<\/sup> degree. The level is a strong one, so from here I only see a weakening for the euro to 1.1027 against the dollar. The euro is trading at its week\u2019s maximum. Before trade opening in Europe it\u2019s likely we\u2019ll see a rise to 1.1075.<\/p>\n<p>The US Fed will let us know its interest rate decision this evening. There shouldn\u2019t be any surprises. It\u2019s expected everything will be left unchanged. This time Yellen won\u2019t speak, so I don\u2019t reckon we\u2019ll see high volatility.<\/p><div id=\"inves-1145778346\" 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\u2019s News (GMT+3):<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>10:00, UK housing price index for October from Nationwide;<\/li>\n<li>From 11:15 to 12:00, PMIs of France Germany, Italy, Spain and the Eurozone;<\/li>\n<li>11:55, German unemployment changes in September;<\/li>\n<li>12:30, UK PMI for the construction sector in October;<\/li>\n<li>15:15, US employment changes (excluding in agriculture) according to ADP for October;<\/li>\n<li>17:30, US oil reserve changes for the week ending 30<sup>th<\/sup> October;<\/li>\n<li>20:30, BoC\u2019s Wilkins speaking;<\/li>\n<li>21:00, FOMC interest rate decision and accompanying speech.<\/li>\n<\/ul>\n<p><strong><em>Technical Analysis:<\/em><\/strong><\/p>\n<p>Intraday forecast: minimum: 1.1026, maximum: 1.1069, close: 1.1040.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/280_581987a198b6c.PNG\" alt=\"\" \/><\/p>\n<p align=\"center\">Euro\/dollar rate on the hourly. Source: TradingView<\/p>\n<p>I didn\u2019t think that the euro would get such a boost from the crosses. At the moment on the daily 1.1115 is the target. This is with my intraday forecast for Tuesday looking southbound. The zone between the 112<sup>th<\/sup>and 135<sup>th<\/sup> degrees is an inversion one, so after an update of the maximum in Asia, I reckon we\u2019re to correct to around 1.1016-1.1027. This is something technical that I just can\u2019t ignore. As for the Fed decision: read above.<\/p>\n<div class=\"s_invisible_yes\">Source:<strong> Alpari<\/strong> &#8220;<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/16602_02112016\/\">EUR\/USD: expected correction from 1.1067-1.1093<\/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","protected":false},"excerpt":{"rendered":"<p>By\u00a0Gabriel Ojimadu, Alpari Previous: On Tuesday by the end of trades the euro\/dollar had risen 79 points and closed at 1.1056. The buyers switched into attack after the publication of weak stats from the UK. During the US session the growth hastened due to polls regarding the US presidential elections. The results of a survey [&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-97642","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/97642","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=97642"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/97642\/revisions"}],"predecessor-version":[{"id":97643,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/97642\/revisions\/97643"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=97642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=97642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=97642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}