Thursday August 10, 2017 - 09:46:03 GMT
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Markets remain in a risk-off posture as the Korea threat persists. Geopolitical worries have been hitting markets that appear to be overbought equities due persistently over-accomodative central bank monetary policies. Today is yet another slow session for major economic releases. Many centers in the Morthern Hemisphere are in their summer holiday period, so the technicals and movements in stock and bond prices should be pivotal.
Today the EURUSD HOD so far has been 1.1771, while the LOD has been 1.1710 as EUR demand appears to have diminished as the risk-off trade is favoring the USD. Liquidity continues to be constrained by summer markets. Keep an eye on the yield of the U.S. 10-yr Note (last 2.243%, +2.0 bp). The 2.30% line remains the key 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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