Monday July 24, 2017 - 09:18:12 GMT
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Trade is off to its usual cautious start for a new week. This is a full week for data, as is typical for the final week of the month. The general market bias for the USD remains negative, but is still likely to follow the lead of bonds and equities.
Today the EURUSD HOD has been 1.1685, while the LOD has been 1.1630. The EURUSD is working to establish 1.1600 line as support. Liquidity appears to be constrained by thin 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 2.237%, +0.8bp). The 2.30% line remains an important psychological benchmark. 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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