Wednesday August 16, 2017 - 09:25:11 GMT
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Amazing Trader Ideas For 16 August 2017
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Improving U.S. economic data have but the EURUSD on the defensive this week. As promised, a full data calendar has been providing the markets with a lot of price action to trade on. Today has seen and will see a number of data releases that have the potential to move markets should they deviate from consensus expectations.
Today the EURUSD HOD so far has been 1.1759, while the LOD has been 1.1691. Once again, it appears as though the EURUSD has been losing its recent luster. Liquidity has been coming back into the markets as the summer holiday period winds down. Keep an eye on therising yields on the U.S. 10-yr Note (last 2.278%, +1.4bp). 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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Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
