{"id":99859,"date":"2016-12-21T06:26:21","date_gmt":"2016-12-21T11:26:21","guid":{"rendered":"http:\/\/countingpips.com\/?p=99859"},"modified":"2016-12-21T06:26:21","modified_gmt":"2016-12-21T11:26:21","slug":"euro-reaching-for-bottom-from-january-2003","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/12\/euro-reaching-for-bottom-from-january-2003\/","title":{"rendered":"Euro reaching for bottom from January 2003"},"content":{"rendered":"
December 21, 2016<\/div>
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By\u00a0Gabriel Ojimadu, Alpari<\/strong><\/p>\n

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Previous:<\/em><\/strong><\/p>\n

On Tuesday the euro\/dollar closed slightly down. The buyers couldn\u2019t win back a large part of their losses that were incurred in the first half of the day. Before the Christmas period liquidity has dropped and so ups and downs for the key pairs is quite usual at this time of year, especially when there\u2019s no important data out. The euro\/dollar\u2019s fall stopped at the 112th<\/sup> degree: 1.0352. By trade close in Europe, the price had restored to 1.0408.<\/p>\n

Market expectations:<\/em><\/strong><\/p>\n

The Asian participants shifted yesterday\u2019s maximum of 1.0408 to 1.0419. The growth in the rate of the dollar has slowed. The euro is reaching for January 2003\u2019s bottom. On the daily we can see a hammer with a bearish body has formed as a result of the bounce. Since the maximum of yesterday\u2019s candle has been passed in Asia, in accordance with the hammer I expect a restoral of the prices to the trend line at 1.0441.<\/p>\n

Day\u2019s News (GMT+3):<\/em><\/strong><\/p>\n