Tuesday August 22, 2017 - 09:41:52 GMT
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Traders await global flash PMIs tomorrow but usually do not react strongly. The stronger response is to U.S. ISM and UK data at the start of each new month. Markets are also looking ahead to the K.C. Fed Jackson Hole Symposium (Thu and Fri). Features will be speeches by Fed Chair Yellen and ECB President Draghi Friday. It appears the ECB is downplaying expectations about Draghi. Last Wednesday alreafy released its latest Minutes. Its had to figure out what new either might have to say.
The EURUSD HOD so far has been 1.1825, while the LOD has been 1.1763. The EURUSD remains on the back foot as EUR demand appears to be waning. Liquidity is returning to the markets as the summer holiday period winds down. Keep an eye on the yield on the U.S. 10-yr Note (last 2.204%, +2.2bp). 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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