{"id":97968,"date":"2016-11-10T06:33:28","date_gmt":"2016-11-10T11:33:28","guid":{"rendered":"http:\/\/countingpips.com\/?p=97968"},"modified":"2016-11-10T06:33:28","modified_gmt":"2016-11-10T11:33:28","slug":"eurusd-expected-correction-after-a-fall","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/11\/eurusd-expected-correction-after-a-fall\/","title":{"rendered":"EUR\/USD: expected correction after a fall"},"content":{"rendered":"<div id=\"inves-3354520815\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 10, 2016<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By\u00a0Gabriel Ojimadu, Alpari<\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p><strong><em>Previous:<\/em><\/strong><\/p>\n<p>When Trump was ahead in the race for presidency, traders were selling USD. On the scare-stories about Trump, the euro\/dollar rose to 1.1299. When it became clear that he was to win, they started to buy back the cheapening dollar. The dollar fully won back its losses and headed positive. By the end of the day the euro had lost 3.47% and was at 1.0907 (-392 points).<\/p>\n<p>The uncertainty surrounding the new president was gone. Hilary Clinton accepted Trump\u2019s victory and does not intend to contest the outcome. The US stock markets calmly reacted to Trump\u2019s win. The key stock indices closed up.<\/p>\n<p>Many investors are in disarray after the US elections. This is why I try to stay off the market during important events.<\/p>\n<p><strong><em>Market expectations:<\/em><\/strong><\/p>\n<p>The euro\/dollar dropped to 1.0907. If we take a look at the daily graph, we can clearly see that the sellers have targeted 1.0851 (25<sup>th<\/sup> October minimum). As for today: after yesterday\u2019s euro whitewash, I expect a correction to 1.0990. Before the correction starts, we\u2019ll probably see a rest of 1.0896. The minimum should be updated in any case. The economic calendar in Europe is empty, so there\u2019s nothing that should interfere with a rebound.<\/p><div id=\"inves-1855932152\" 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>16:30, Canadian September primary market housing price index and US initial unemployment benefit applications for the week ending 5<sup>th<\/sup> November;<\/li>\n<li>17:15, FOMC\u2019s Bullard to speak;<\/li>\n<li>17:50, ECB\u2019s Constancio to speak;<\/li>\n<li>22:00, US October federal budget balance.<\/li>\n<\/ul>\n<p><strong><em>Technical Analysis:<\/em><\/strong><\/p>\n<p>Intraday forecast: minimum: 1.0896, maximum: 1.0990, close: 1.0962.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2016\/11\/eur_101116.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Euro\/dollar rate on the hourly. Source: TradingView<\/p>\n<p>The euro\/dollar fell from a 1.1299 maximum by 315 degrees. From being off the charts in the bull zone (above the U3), the price plummeted the other way, falling off the charts below the D3. I didn\u2019t make a euro\/dollar forecast yesterday since I didn\u2019t know how market participants would react to the US election result. I can say one thing though: I didn\u2019t expect to see such movement and such an intraday price pattern.<\/p>\n<p>On Thursday I expect the euro to correct to the 67<sup>th<\/sup> degree. I reckon that the correction will start from 1.0896. The calendar in Europe is empty, so we may well see a return to the balance line at 1.0990\/1.10<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"http:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/16734_10112016\/\">EUR\/USD: expected correction after a fall<\/a>&#8220;<\/div>\n<\/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: When Trump was ahead in the race for presidency, traders were selling USD. On the scare-stories about Trump, the euro\/dollar rose to 1.1299. When it became clear that he was to win, they started to buy back the cheapening dollar. The dollar fully won back its losses and headed positive. By [&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-97968","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/97968","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=97968"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/97968\/revisions"}],"predecessor-version":[{"id":97969,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/97968\/revisions\/97969"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=97968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=97968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=97968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}