Tuesday May 16, 2017 - 09:39:22 GMT
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Amazing Trader Ideas For 16 May 2017 Register To Test Your Amazing Trader
The attached EURUSD chart is remarkable in the steadiness of the EURUSD rise. Notice the number of red support lines. If nothing else they tell you that fading the rally has not been the trade up until now. there have been countless opportunities to buy against one support line with a stop at or below the next line under it. This has the look of a large order to buu EURUSD.
With little major U.S. data scheduled for this week, the focus will remain on the technincals and the performance of equity and fixed income markets. The Tuesday through Thusday period will see key U.K. data, so keep an eye on the GBP crosses, especially vs. the EUR and JPY.
The EURUSD HOD has been 1.1050, while the LOD is 1.0972. In forex trading conditions can change quickly, so continue to use your AT charts to monitor current support (red) and resistance (blue) levels. Changing colors on the Amazing Trader (AT) charts will tell you which way the current winds are blowing. Keep an eye on which color lines are being drawn or erased as a leading momentum indicator.
Our current analytical observations are updated over the day on the GVI Forum. Refer to your continuously updated Amazing Trader charts for precise Support and Resistance levels as the session wears on. For access to the GVI Trag Forum contact: [email protected]
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