Monday May 22, 2017 - 09:20:29 GMT
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Markets are in a mild risk-on posture early Monday in cautious trade. EURUSD is back below the 1.1200 line at the moment while traders look for direction.
The EURUSD HOD has been 1.1212, while the LOD is 1.1161. At this hour, EURUSD just ran stops at the 1.1151 level. The short term direction on the 5min Amazing Trader chart is down at this hour. S&P futures are trying to rally and if the correlation trades are working, they could be a weight on the EURUSD.
Forex trading conditions can change quickly, so use your AT charts to monitor current support (red) and resistance (blue) levels. The technicals can change ahead of the fundamentals. 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 Trading Forum contact: [email protected]
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