Monday March 20, 2017 - 10:02:51 GMT
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Amazing Trader EURUSD Ideas for 20 March 2017 See The Amazing Trader In Action
Amazing Trader EURUSD roadmap system charts are updated
Trading is off to its typically cautious Monday start. The economic calendar is light today but it will pick up as the week wears on. I will be taking my cues as usual from the equity and bond markets. At their core, forex markets tend to be driven by relative interest rates (current and expectations).
The EURUSD HOD has been 1.0778 and its LOD 1.0731. Commitment of Traders data suggest that long held Short EURUSD positions are currently being wound down, so buy side stops are likely to be more significant. In terms of the very short-term, you can see on the Amazing Trader chart that EURUSD is currently in a down trend. Look for neutrality at the 1.0750 area. Key stops come in at the 1.0731 LOD and also 1.0728 from last week. Resistance from last week is at 1.0783 and today at 1.0778 (HOD).
Tune in frequently to the GVI Forum for updated trading insights as the session unfolds.
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