Thursday August 24, 2017 - 09:16:59 GMT
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I have low expectations for the outcome of the Jackson Hole Symposium starting today. In some past meetings there have been announcements, but policies by the top central banks appear to be firmly in place and are not likely to be tweaked in the immediate future. ECB President Draghi and Fed Chair Yellen both speak tomorrow. There is a risk that something could be announced in another speech or in the hallways by someone else that could impact markets, so be on guard.
The EURUSD HOD so far has been 1.1819, while the LOD has been 1.1784. The EURUSD perked up a bit yesterday, but it remains on the back foot as EUR demand wanes. Liquidity is returning to the markets as the summer markets fade. Keep an eye on the yield on the U.S. 10-yr Note (last 2.183%, +1.0bp). 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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