Friday July 7, 2017 - 09:06:24 GMT
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Amazing Trader Ideas For 7 July 2017 Register To Test Your Amazing Trader
The Major trading focus today will be the June U.S. employment report on the U.S. open. Barring an outcome very wide of street expectations, odds are the data will not have more than a temporary impact on forex prices with the Fed now more concerned about financial stability as it starts to prepare to reduce gradually its portfolio of government securities. Today the EURUSD HOD has been 1.1428, while the LOD has been 1.1406. As usual, look for stops at the daily extremes. I suggest you continue to keep a close watch on the yield on the U.S. 10-yr Note and other comparable instruments in other currencies as markets start to set up for a normalization of global monetary policies. 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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