Friday February 17, 2017 - 11:37:06 GMT
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Amazing Trader Early EURUSD Ideas for 17 February 2017
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I would not be surprised to see traders fold up their tents and head out early for the long weekend today. I sense some fatigue by some after a couple of difficult trading days. This might be an ideal time to regroup before next week. No major data are due for release to day. U.S. Leading Economic Indicators due today sound important but it is mostly old items and little newsworthy. Today's HOD has been 1.0678 and its LOD 1.0637. It might be that the top ins in for EURUSD 1.0679 (yesterday). However keep in mind, there is plenty to shhot for at 1.0700 and above to 1.0714 and even more beyond that. There should not be heavy downside stops. As always. keep close tabs on Stocks and bond yields. A strong performance in equities could rekindle EURUSD selling, while a poor performnce by stocks could trigger a run to the upside to 1.0700 and above. I would be quick on my feet today, especially as conditions start to thin.
The GBPUSD was hit by another piece of unexpectedly weak data today, January Retail Sales. The GBPUSD HOD bas been 1.2512. Its LOD is 1.2387. The EURGBP is higher on the day. Flows in and out of the EURGBP cross can have a significant impact on the value of EURUSD and distort the EURUSD's tone. Tune in frequently to the GVI Forum for updated trading insights as the session unfolds.
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Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
