Thursday May 25, 2017 - 09:26:53 GMT
Share This Story
Global-View - www.global-view.com
Amazing Trader Ideas For 25 May 2017 Register To Test Your Amazing Trader
The The EURUSD gained yesterday following a surprisingly dovish comments in the latest FOMC policy board minutes. Most had been thinking a Fed rate hike on June 14 was a done deal. I still would be betting on a 25bp rate hike, but acxknowledge that more weaker than expected inflation data could keep the Fed on hold. I still feel the bias of the central bank is for a rate hike, as policy "normalization" remains a policy objective. Look for upcoming data to have a significant impact on the USD depending on how they break, stronger or weaker.
EURUSD remains in a broad corrective pattern after topping out at 1.1268 on Tuesday. The EURUSD HOD has been 1.1250, while the LOD is 1.1210. For a very short-term point of view, the daily highs and lows are always key, but the 1.1268 level as the recent high is critical on top, and the 1.1200 psychological level on bottom could change the tone of the market if it cannot not hold as support.
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.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."