Wednesday June 28, 2017 - 09:34:54 GMT
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Forex Trading Ideas For 28 June 2017 Register To Test Your Amazing Trader
Markets continue to respond to the what appears to be the early stages of a policy shift by the ECB. Like the Fed, I would expect the change in posture to be gradual so as not to upset the markets. Nevertheless, ample warning is being given. At the same time, the Fed appears to be leaning against easy financial conditions. At the moment, traders are more focused on the ECB than the Fed. This can be seen most clearly in the EURUSD breaking upward to a higher range of 1.1200-1.1400 or possibly even higher.
Today the EURUSD HOD has been 1.1389, while the LOD has been 1.1330. This has signal the start of a more active forex trading environment, somehow July can often an active month in forex. The focus of trade is now on the limits of a new higher trading range for this pair. We are also watching the 2.20% line in the 10-yr note. Keep a close watch on your Amazing Trader charts for market direction.
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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