Thursday July 20, 2017 - 09:10:43 GMT
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Amazing Trader Ideas For 20 July 2017 Register To Test Your Amazing Trader
The focus today is on ECB policy statement following it regular meeting. No rate changes are expected. The focus is on anything hinted at about a future tapering of excess liquidity injections into the system (QE). No change would be a disappointment.
Today the EURUSD HOD has been 1.1533, while the LOD has been 1.1496. The EURUSD is still trying to solidly establish the 1.1500 line as support in subdued summer markets. As usual, look for stops at the daily extremes. Keep an eye on the yield of the U.S. 10-yr Note (last 2.28%, 0.0bp). The 2.30% line remains 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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