{"id":98269,"date":"2016-11-17T06:51:14","date_gmt":"2016-11-17T11:51:14","guid":{"rendered":"http:\/\/countingpips.com\/?p=98269"},"modified":"2016-11-17T06:51:14","modified_gmt":"2016-11-17T11:51:14","slug":"eurusd-expected-jerking-movement-before-yellen-speaks","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/11\/eurusd-expected-jerking-movement-before-yellen-speaks\/","title":{"rendered":"EUR\/USD: expected jerking movement before Yellen speaks"},"content":{"rendered":"<div id=\"inves-2973912019\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 17, 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>On Wednesday the euro\/dollar closed down. The double bottom that was forming was cancelled out during the European session after market participants began dumping American and European bonds. The yield for them was in the green zone until trade opening in the States.<\/p>\n<p>During the day, the price bounced three times from various levels, but all attempts failed. After trade close in Europe, the euro bulls managed to break from the 1.0666 minimum due to the falling yield on American bonds.<\/p>\n<p><strong><em>Market expectations:<\/em><\/strong><\/p>\n<p>Today I haven\u2019t bothered with a forecast since there are too many factors which are affecting the euro\u2019s movements at the moment. The yields for all bonds are now falling, and so the euro is rising. It\u2019s unclear whether investors will start chucking in bonds and currencies from developing countries. The movement for bonds is currently a key factor for the USD.<\/p>\n<p>Other than the bonds, on Thursday trader attention will be on what Yellen is to say. The Fed chief\u2019s preliminary text is to be published a couple of hours before she is to give the speech.<\/p><div id=\"inves-2621417686\" 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>12:30, UK retail sales in October;<\/li>\n<li>13:00, Eurozone definitive October CPI and base CPI;<\/li>\n<li>15:30, Eurozone economic conditions assessment for monetary policy from the ECB\u2019s last meeting;<\/li>\n<li>16:30, Canadian foreign securities purchases in September, plus US construction permits issued for September, CPI for October, Philadelphia Fed manufacturing index for November, new home foundations laid in October and initial unemployment benefit application for the week ending 13<sup>th<\/sup>November;<\/li>\n<li>18:00, US Fed\u2019s Janet Yellen to speak before congress;<\/li>\n<li>18:30, Bank of Canada to release its biannual report;<\/li>\n<li>20:00, SNB\u2019s Maechler to speak.<\/li>\n<\/ul>\n<p><strong><em>Technical Analysis:<\/em><\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2016\/11\/eurd_171116.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Euro\/ rate on the weekly. Source: TradingView dollar<\/p>\n<p>I\u2019ve put a weekly graph in this analysis to show you the situation on the old timeframes. We can see from the graph that the euro\/dollar has been in a sideways trend since March 2015. The upper limit will start closing positions at around 1.0600.<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.alpari.ru\/data\/media\/trunk\/images\/Analytics\/2016\/11\/eur_171116.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Euro\/ rate on the hourly. Source: TradingView dollar<\/p>\n<p>Intraday forecast: minimum: n\/a, maximum: n\/a, close: n\/a.<\/p>\n<p><em>From a 1.0817 maximum, the pair fell 135 degrees. The buyers are attempting to force a break from this support. If we go off the weekly timeframe (above) then the sellers are aiming for 1.0600. If investors don\u2019t ditch bonds then the buyers will have an opportunity to return the rate to 1.0743. They could push it higher since between the price and the AO a double bull divergence has formed. The question is though: whose side will Yellen be on today?<\/em><\/p>\n<div class=\"s_invisible_yes\"><em>Source: &#8220;<a href=\"http:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/16866_17112016\/\">EUR\/USD: expected jerking movement before Yellen speaks<\/a>&#8220;<\/em><\/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: On Wednesday the euro\/dollar closed down. The double bottom that was forming was cancelled out during the European session after market participants began dumping American and European bonds. The yield for them was in the green zone until trade opening in the States. During the day, the price bounced three times [&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-98269","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/98269","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=98269"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/98269\/revisions"}],"predecessor-version":[{"id":98270,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/98269\/revisions\/98270"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=98269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=98269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=98269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}