Friday June 16, 2017 - 09:28:07 GMT
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Amazing Trader Ideas For 16 June 2017 Register To Test Your Amazing Trader
Markets might or might not be at a turning point for the USD. I have a bias, but am not wedded to any view at the present time. For now I am letting the yield on the 10yr note do all the talking. My focus is on the yield on the 10yr note. Below 2.20%, my bias remains bearish the USD and above I turn more constructive. I let the Amazing Trader charts set my trading stategy.
Today the EURUSD HOD has been 1.1184, while the LOD has been 1.1138. The EURUSD appears to be testing a lower trading range. Let the neutral 1.1200 level as set the tone into the weekend. The upcoming week is fairly thin in terms of event risk, so keep a close watch on the technicals.
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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