Wednesday May 31, 2017 - 09:31:46 GMT
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Markets havetrade cautiously ahead of U.S. employment data on Friday. Eurozone flash HICP (CPI) data for May were just released and were cooler than expected. This could ease speculation about an imminent change in policy. U.S. employment data could impact the upcoming Fed decision on June 14.
Today The EURUSD HOD has been 1.1197, while the LOD has been 1.1164. From a short-term point of view, the daily highs and lows are always key. The 1.1200 level is the key to the upside, while the bottom target is the neutral EURUSD 1.1150 area.
Forex trading conditions can change quickly, so use your AT charts to monitor current support (red) and resistance (blue) levels. The technicals frequently change ahead of the fundamentals. Changing colors and/or disappearing or new lines on the Amazing Trader (AT) charts will tell you which way the winds are blowing. Keep an eye on which color lines are being drawn or erased as your leading momentum indicator.
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