Friday January 20, 2017 - 11:11:14 GMT
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Amazing Trader EURUSD charts updated to your systems
The basic complexion of the forex market seems to be changing by the minute. The EURUSD has already traded a range of 1.0694 (HOD) to 1.0627 (LOD) with the LOD currently in play. Price swings have been substantial in a session with no major news. We have been noting periodic episodes of strong EURUSD demand pushing the pair higher followed by no followthough market purchases. Its almost as if there is battle underway to decide whether we establish above 1.0700 as a floor or below 1.0600 as the ceiling. The outgrowth of this has been unusual price instability anywhere in the 1.06's. Normally in this situation we would expect prices to gravitate to the 1.0650 area. Key recent support has been at 1.0622 are and resistance at 1.0675. Obviously expect to see stops set at the highs and lows of the day.
The GBPUSD has hit earlier by poor December U.K. retail sales figures for December. It is lower vs. the USD and EUR.The GBPUSD HOD is 1.2373. Its LOD is 1.2282. It was last at 1.2285. Flows in and out of this cross can have a decisive impact on the value of the EURUSD.
Tune in frequently to the GVI Forum for updated trading insights as the session unfolds.
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