Friday February 3, 2017 - 10:48:18 GMT
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Amazing Trader EURUSD charts updated to your systems
The major focus today is the release of U.S. January payroll, unemployment and earnings data. A strong report could move forward the expected timing of a Fed policy tightening. Recent economic data generally have been suggesting that economic growth in the U.S. had been improving even before the Trump Admiistration was installed. U.S. PMI reports are due as well. The EURUSD HOD has been 1.0772 and the LOD 1.0738. Expect stops above and belowat the HOD and LOD levels. Then there is not much until 1.0875. If the upside is tested expect 1.0850 to come into play. On the downside nearby stops are at 1.0728, then 1.0683. Nearby upside stops are not as prominent. The 1.0800 line is critical psychologically. Use 1.0750 as neutrality. There is always the likelihood of extreme volatility on the NFP report.
The GBPUSD is lower on the day. EURGBP is higher. The GBP was hit earlier by a weaker than expected Service PMI report for January. The GBPUSD HOD has been 1.2539, and its LOD 1.2475. Flows in and out of the EURGBP cross can have a significant impact on the value of EURUSD. Tune in frequently to the GVI Forum for updated trading insights as the session unfolds.
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