Tuesday July 18, 2017 - 09:39:58 GMT
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Amazing Trader Ideas For 18 July 2017 Register To Test Your Amazing Trader
The collapse of the signature Republican bill to fix the failed Obamacare healthcare program overnight has given the EURUSD a boost to above 1.1500. This puts the Trump tax cut plans in jeopardy and raises the questions about what comes next. The ECB decision on Thursday is another source of uncertainty with some traders expecting word on the timing of additional ECB QE tapering. The USD remains on the back foot.
Today the EURUSD HOD has been 1.1561, while the LOD has been 1.1471. This pair has been working its way higher. As usual, look for stops at the daily extremes. Keep an eye on the yield of the U.S. 10-yr Note (2.308%, -0.1bp). The 2.30% support line is key psychological support. Follow 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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