# EURUSD Short-Term Trend Line Bounce (Jan 31, 2018) Source: https://www.tradersway.com/resources/market-info/eurusd-short-term-trend-line-bounce-jan-31-2018/ Language: en Updated: 2018-01-31 Description: Explore EURUSD Short-Term Trend Line Bounce (Jan 31, 2018). EURUSD. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. EURUSD has been trending higher over the past few weeks and is currently above a steep rising trend line on its 1-hour chart. Price is bouncing off this support zone, which lines up with the 50% Fibonacci retracement levels, and is setting its sights on the swing high around 1.2525. The 100 SMA is above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. This short-term moving average also appears to be holding as dynamic support, but a larger dip could still find a floor at the 200 SMA dynamic inflection point near the 61.8% Fib. Stochastic is still on its way down and has yet to indicate oversold conditions, which means that sellers could still have the upper hand for now. This could keep the correction going until the oscillator turns up from oversold levels. Economic data from the euro zone came in mixed, with French flash GDP up by 0.6% versus the estimated 0.5% expansion. German preliminary CPI turned out below expectations with a 0.7% drop, though, lower than the estimated 0.5% dip. The region’s flash GDP came in line with estimates of a 0.6% growth figure. The dollar struggled to hold its ground on risk aversion and rising US bond yields but wound up weakening to most of its rivals ahead of the State of the Union Address and FOMC decision. Month-end profit-taking could also be blamed for the dip. Up ahead, the Chicago PMI and ADP non-farm employment numbers are also due and these could shape expectations for Friday’s NFP report. ![EURUSD Short-Term Trend Line Bounce (Jan 31, 2018)] Stronger than expected data, combined with hawkishness from the Fed, could allow the dollar to make a stronger rebound. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/eurusd-short-term-trend-line-bounce-jan-31-2018/#primary", "url": "https://www.tradersway.com/resources/market-info/eurusd-short-term-trend-line-bounce-jan-31-2018/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/eurusd-short-term-trend-line-bounce-jan-31-2018/", "headline": "EURUSD Short-Term Trend Line Bounce (Jan 31, 2018)", "inLanguage": "en", "datePublished": "2018-01-31T07:21:11+00:00", "dateModified": "2018-01-31T07:21:11+00:00", "articleSection": "Market Info", "description": "Explore EURUSD Short-Term Trend Line Bounce (Jan 31, 2018). EURUSD. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/eurusd-short-term-trend-line-bounce-jan-31-2018/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "EURUSD Short-Term Trend Line Bounce (Jan 31, 2018)", "item": "https://www.tradersway.com/resources/market-info/eurusd-short-term-trend-line-bounce-jan-31-2018/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```