Wednesday July 19, 2017 - 09:30:44 GMT
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The world did not end when the Republican effort to replace the failed Obamacare healthcare program overnight came to naught. At some point, the dysfunctional Republican and Democrat Parties in the Senate will be forced to work together to get something accomplished, but don't hold your breath. The EURUSD is trying to consolidate its gains above the 1.1500 line. The ECB at some point will be starting to worry about the impact of the stronger EUR on the Eurozone economy. The latest ECB decision os set for tomorrow.
Today the EURUSD HOD has been 1.1560, while the LOD has been 1.1514. 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 (2.271%, +0.5bp). The 2.30% line is an important psychological level. 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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