{"id":99814,"date":"2016-12-20T06:47:36","date_gmt":"2016-12-20T11:47:36","guid":{"rendered":"http:\/\/countingpips.com\/?p=99814"},"modified":"2016-12-20T06:47:36","modified_gmt":"2016-12-20T11:47:36","slug":"dollar-rises-after-yellen-speaks","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/12\/dollar-rises-after-yellen-speaks\/","title":{"rendered":"Dollar rises after Yellen speaks"},"content":{"rendered":"<div id=\"inves-969534910\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 20, 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 Monday the euro\/dollar closed down. The buyers didn\u2019t manage to hold at 1.0415. After Yellen spoke, the euro fell to 1.0393. The Fed chief announced that employment growth in the country was at its highest for the past ten years. Her announcement was taken by traders to mean that the regulator plans to raise interest rates further in 2017.<\/p>\n<p>The US elections confirm Donald Trump as the president-elect, but this announcement from Yellen was even more important than that for the markets.<\/p>\n<p><strong><em>Market expectations:<\/em><\/strong><\/p>\n<p>For me the situation is contradictory since there is an overall setup of the players for a weakening of the euro, with cyclical analysis indicating a continuation of the upward correction. As I see it, the euro may well rapidly return to 1.0470 (67 degrees), just as it may well fall to 1.0351 (112 degrees). The economic calendar is empty. As such, we should use technical signals to enter the market.<\/p>\n<p><strong><em>Day\u2019s News (GMT+3):<\/em><\/strong><\/p><div id=\"inves-994694574\" 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<ul class=\"list list_type_disc\">\n<li>10:00, Swiss balance of trade and German manufacturing price index in November;<\/li>\n<li>12:00, Eurozone October balance of trade;<\/li>\n<li>14:00, UK retail and wholesale figures from the CBI for December;<\/li>\n<li>16:30, Canadian wholesale figures for October.<\/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\/12\/eur_201216.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>From a maximum of 1.0478, the euro has slid to 1.0393. Who knows what would\u2019ve been had Yellen not spoken: the price may well have stayed put at the balance line. From the 67<sup>th<\/sup> degree the price fell by 67 degrees. If we take into account that there is a bearish trend on the euro, we may well see a close of the day at around 1.0351.<\/p>\n<p>I haven\u2019t bothered with a forecast this Tuesday since the cyclical analysis is indicating an upward correction. Here we need to either wait for a flat against the cycles heading upwards whilst they\u2019re not flipped southbound, either there will be a bounce from the 67<sup>th<\/sup> degree.<\/p>\n<p>If we take a look at how the euro fell from a peak of 1.0479, the downward movement doesn\u2019t take hold of one impulse wave. It could hit 1.0377. There\u2019s no important news today, so use the technical indicators when looking to enter the market.<\/p>\n<div class=\"s_invisible_yes\">Source: Alpari, &#8220;<a href=\"https:\/\/alpari.com\/en\/analytics\/reviews\/market_sessions\/17425_20122016\/\">Dollar rises after Yellen speaks<\/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<div class=\"s_invisible_yes\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Gabriel Ojimadu, Alpari Previous: On Monday the euro\/dollar closed down. The buyers didn\u2019t manage to hold at 1.0415. After Yellen spoke, the euro fell to 1.0393. The Fed chief announced that employment growth in the country was at its highest for the past ten years. Her announcement was taken by traders to mean that the [&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-99814","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/99814","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=99814"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/99814\/revisions"}],"predecessor-version":[{"id":99815,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/99814\/revisions\/99815"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=99814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=99814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=99814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}