Friday August 11, 2017 - 09:25:57 GMT
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It seems the the north Korean situation is being used as an excuse for an overdue correction in equity prices. Today has seen the yield on the 10-yr note fall even further ahead of the weekend to below 2.20%. The EURUSD is on the sidelines. The only major news due today is U.S. CPI data for July. While the fed targets the PCE deflator, it also watches a number of other inflation measures for confirmation of what the PCS deflator is saying. Near or at the top of the "other" list has to be the CPI. Today's data could be pivotal.
Today the EURUSD HOD so far has been 1.1780, while the LOD has been 1.1749. EUR demand appears to have diminished as the recent risk-off trade has favored the USD. Liquidity continues to be constrained by summer markets. Keep an eye on the yield of the U.S. 10-yr Note (last 2.189%, =3.4 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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