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  • On Tuesday the 12th of December, trading on the euro/dollar pair closed down. The pair spent most of yesterday around the LB balance line (sma 55) at 1.1770. The rate then took a sharp dive after... On Tuesday the 12th of December, trading on the euro/dollar pair closed down. The pair spent most of yesterday around the LB balance line (sma 55) at 1.1770. The rate then took a sharp dive after the publication of the producer price index in the US. The year on year value came out higher than expected to give investors more sleepless nights over the country’s low level of inflation.

    The euro dropped to 1.1718 on the back of a rising dollar and US 10Y bond yields. After trading in Europe closed, the euro started to mount a recovery.
    https://alpari.com/data/media/trunk/images/Analytics/2017/12/eur_131217.png
    My expectations of a rise to 1.1811 didn’t come to pass. US data got in the way. The increase in producer inflation sent the euro down to 1.1718.

    The pair has rebounded from the lower boundary of the A-A channel and as of now has recovered around 60% of yesterday’s losses. At the time of writing, the euro is trading at 1.1758 against a session high of 1.1762.

    Now let’s look at the technicals imposed on the hourly chart. The rate has recovered from 1.1718 to 1.1762. The breakout of the A-A channel turned out to be false. A W-model is now forming. For it to complete its formation, we need to break out of the TR and TR1 lines.

    Three euro crosses, including the EURGBP, are trading up. With the support of these pairs, buyers should be able to reach 1.1775 quite comfortably. Whether or not they can go higher remains to be seen as markets are holding their breath ahead of the Federal Reserve’s interest rate decision. Since most traders are convinced of a 25-base-point increase, more attention will be given to the Fed’s economic forecasts and Janet Yellen’s press conference. This will be Yellen’s final meeting and press conference as her term expires on the 3rd of February, 2018.
    Source: https://alpari.com/en/binary_options/
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  • EURUSD: daily candlesticks have formed a range of 1.1730 to 1.1812
    https://alpari.com/data/media/trunk/images/Analytics/2017/12/eur_121217.png
    Yesterday’s predictions didn’t come off. With the euro crosses rising and US 10Y bond yields dropping, the euro broke up the...
    EURUSD: daily candlesticks have formed a range of 1.1730 to 1.1812
    https://alpari.com/data/media/trunk/images/Analytics/2017/12/eur_121217.png
    Yesterday’s predictions didn’t come off. With the euro crosses rising and US 10Y bond yields dropping, the euro broke up the A-A channel. The euro’s rise against the dollar was stopped in its tracks by the 67th degree. The EURUSD rate dropped to 1.1765.

    The 45th degree has shifted from 1.1730 to 1.1758 as a result of the 1.1812 high being formed. I think the euro is going to move upwards from the 45th degree towards 1.1811. On the daily timeframe, two candlesticks with diverging tails have formed a range of 1.1730 to 1.1812. The euro will continue to move in whichever direction it breaks out of this range.

    Markets await the FOMC meeting and Janet Yellen’s press conference on the 13th of December. They’ve already factored in a 25-base-point increase to interest rates, so euro bulls shouldn’t waste their energy trying to push the price up here.

    I’m thinking about opening a long position with a BuyStop at 1.1780. If the euro renews the 1.1764 low, then it may be worth risking a long position from 1.1758/60. These are preliminary values, they may need adjustment later. Source: https://alpari.com/en/investor/
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  • We should be clear that it is one of the most volatile majors in the market, but therefore one of the most profitable.
    For example the pair today has moved from 1.3320 to 1.3374 in very short periods
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    CarlosR just registered on the site
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