Thursday April 6, 2017 - 09:58:33 GMT
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Amazing Trader EURUSD Ideas for 6 April 2017 Register for the Amazing Trader
The central banks continue to be major players in the forex markets as evidenced in the last half day or so with the latest Fed minutes more hawkish than expected followed by a speech today by ECB President Draghi who was more dovish than most expected. the two events generated considerable price volatility, but as of this hour, once the dust has settled, EURUSD prices are about unchanged. No major market-moving events are expected over the day.
The EURUSD HOD has been 1.0685, while the LOD is 1.0628. Jay mentioned a 1.0600 to 1.0700 range very early this week and so far it has been holding. The highs and lows of the day should be where stops are resting. We continue to cite likely stops at 1.0701 on top. Below the LOD, ultimately 1.0600 is the significant target. The 1.0650 level remains potential neutrality.
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