Thursday August 31, 2017 - 08:49:04 GMT
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As expected, North Korea worries have fast faded. The ball is in back in North Korean hands again. Hopes for getting more financial concessions from the U.S. are likely misplaced. Hurricane Harvey has also started to fade from the headlines as it finally starts to pull away from the Gulf Coast. The focus now is month end and U.S. employment data ahead of a long weekend in North America. Better U.S. economic data are fighting the longer term flow of funds out of the USD.
The EURUSD HOD so far has been 1.1904, while the LOD has been 1.1866. I expect the major focus to be on the 1.2000 line as a POTENTIAL future support level. Resting stops above 1.20 have already been triggered. The yield on the U.S. 10-yr Note (last 2.148%, +0.3bp) has recovered to back above 2.10%. Use it as an early warning sentiment barometer. 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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