Tuesday January 10, 2017 - 10:50:24 GMT
Share This Story
Global-View - www.global-view.com
Amazing Trader Early EURUSD Ideas for 10 January 2017 Register for the Amazing Trader
Amazing Trader EURUSD charts updated on your systems
It looks to me as though EURUSD bears had gotten too far over their skis in the final two weeks of 2016, and the "weak shorts" are being squeezed out. This is not an atypical state of affairs in the early weeks of a new year. Many often try to get a jump on the new year using the "conventional wisdom" of the markets as their trading guide and more often than not it does not work. We are now in a period where the supply demand balance in the markets will be worked out. Today's EURUSD range has seen local resistance at 1.0622 tested (HOD 1.0625).
The LOD has been 1.0570. This puts 1.0550 and 1.0600 psychological levels into play. The GBP remains vulnerable after the Brexit remarks by PM May over the weekend. Be wary of our old friend, "conventional wisdom". The EURGBP is trading higher again on the day. The EURGBP cross can often tip the scale in EURUSD activity.
Tune in frequently to the GVI Forum for trading insights as the session unfolds.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."