{"id":98671,"date":"2016-11-24T07:02:21","date_gmt":"2016-11-24T12:02:21","guid":{"rendered":"http:\/\/countingpips.com\/?p=98671"},"modified":"2016-11-24T07:02:21","modified_gmt":"2016-11-24T12:02:21","slug":"eurusd-us-day-off-calm-expected","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/11\/eurusd-us-day-off-calm-expected\/","title":{"rendered":"EUR\/USD: US day off, calm expected"},"content":{"rendered":"<div id=\"inves-2820520634\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">November 24, 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 euro lost out to the dollar, dropping to 1.0526. The inverted daily candle with bull divergence didn\u2019t come off. A break from the weekly support also wasn\u2019t managed. The growth in the rate of the dollar hastened during the American session after the release of positive macro-stats from the US and a growth in US bonds. The euro\/dollar fell to 1.0526.<\/p>\n<p>Durable goods orders, business activity in the manufacturing sector (Markit) and consumer confidence (Michigan University) all exceeded market expectations. They further strengthened market expectations of a Fed rate rise this December from 0.25% to 0.75%. According to data from CME Group FedWatch Tool, the likelihood we will see a rate rise in December is now 93.5%.<\/p>\n<p><strong><em>American stats:<\/em><\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>Michigan University\u2019s US consumer confidence index rose to 93.8 (forecasted: 91.6, previous: 91.6);<\/li>\n<li>Markit\u2019s index for business activity in the manufacturing sector rose to 53.9 (forecasted: 53.4, previous: 53.4);<\/li>\n<li>The index for durable goods orders in the US in September was at 4.8% (forecasted: 1.5%, previous: 0.4%);<\/li>\n<li>The number of unemployment benefit applications in the US for the week ending 19<sup>th<\/sup> November was 251k (forecasted: 250k, previous: 233k).<\/li>\n<\/ul>\n<p><strong><em>Market expectations:<\/em><\/strong><\/p>\n<p>In Asia the euro has shifted yesterday\u2019s minimum from 1.0526 to 1.0525. At the moment of writing this analysis, the euro is going for 1.0543 dollars. The Americans are having their Thanksgiving today and so there will be no trades in the country. Due to this there is expected to be low liquidity on the market and this could lead to sharp fluctuations. After yesterday\u2019s weakening of the euro, I hope that today the price will sit in a sideways.<\/p><div id=\"inves-1659033590\" 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, German definitive GDP for Q3 of 2016;<\/li>\n<li>12:00, German business climate index from Ifo for November;<\/li>\n<li>12:30, UK October mortgage approvals from BBA;<\/li>\n<li>15:00, German consumer climate index from Gfk for November;<\/li>\n<li>16:30, Canadian corporate profits in Q3 of 2016;<\/li>\n<li>20:15, SNB\u2019s Zurbrugg 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\/eur_241116.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Euro\/ rate on the hourly. Source: TradingView dollar<\/p>\n<p>Intraday forecast: minimum: 1.0522, maximum: 1.0558, close: 1.0538.<\/p>\n<p>The strong US stats and growth in bonds pushed the euro to 1.0526. The week\u2019s support at 1.0585 couldn\u2019t hold. Now the sellers have opened the road to December\u2019s 1.0517 minimum, after which they will head for 1.0462.<\/p>\n<p>Today is a day off in the US. As such, today I\u2019ve gone for a flat, but we should be prepared for sharp fluctuations due to low liquidity. The price is in the 112-135 degree inversion zone (1.0515 \u2013 1.0490). The euro could drop to this zone with ease. Moreover, the D3 passes through 1.0495.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"http:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/16988_24112016\/\">EUR\/USD: US day off, calm expected<\/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<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 euro lost out to the dollar, dropping to 1.0526. The inverted daily candle with bull divergence didn\u2019t come off. A break from the weekly support also wasn\u2019t managed. The growth in the rate of the dollar hastened during the American session after the release [&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-98671","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/98671","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=98671"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/98671\/revisions"}],"predecessor-version":[{"id":98672,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/98671\/revisions\/98672"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=98671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=98671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=98671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}