Tuesday April 4, 2017 - 09:50:38 GMT
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Amazing Trader EURUSD Ideas for 4 April 2017 Register for the Amazing Trader
Today sees a relatively quiet session with only U.S. trade data due. These data are importat because a U.S. trade deficit is a net subtraction from GDP. Markets usually do not react strongly to this release. There was a time when the various trade reports were the most important statistics of the month.
The EURUSD HOD has been 1.0675, while the LOD is 1.0644. Expect minor stops to be lurking above and below, respectively, these key points. Above the HOD, key resistance comes in at 1.0680. A couple of runs at that level failed yesterday. Repeated failures at a stop lelel tend to increase its significance. The the psychological 1.0700 (1.0701) line is key as well. Support is clustered near the the LOD. Ultimately 1.0600 is a significant target. The 1.0650 level remains as neutrality.
Refer to your continuously updated Amazing Trader charts for Support and Resistance levels as the session wears on. Tune in frequently to the GVI Forum for updated trading insights.
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