Tuesday January 24, 2017 - 12:00:01 GMT
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Amazing Trader Early EURUSD Ideas for 24 January 2017 Register for the Amazing Trader
Amazing Trader EURUSD charts updated to your systems
The EURUSD is trading a symmetrical range around 1.0750 with a HOD of 1.0773 and a LOD of 1.0725. Written comments by Treasury Secretary Mnuchin sent to Congress following his testimony saw him indicating that an excessively strong U.S. dollar might be negative in the short term. Thus he appears to be walking a fine line between the traditional official strong dollar policy and favoring a weaker currency to promote job creation at home. Looks like we will be seeing a more active U.S. forex policy. Look for 1.0700 to set th USD tone. !.0750 (1.0752) should be neutrality. Look for the HOD and LOD (see above) as major support and resistance.
The GBPUSD is lower on after the as expected U.K. Supreme Court decision that Parliamentary consent is neeeded to invoke Article 50 to start the exit process from the EU. With no approval needed from the national parliaments (Scotland, Wales and Northern Ireland), odds are PM May should be able to proceed quickly on Brexit. The EURGBP is higher on the day. The GBP HOD is 1.2548 and is LOD has been 1.2433. EURGBP is lower. Flows in and out of the EURGBP 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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