Friday September 1, 2017 - 08:29:28 GMT
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Amazing Trader Ideas For 1 September 2017 Register To Test Your Amazing Trader
Upcoming is the unofficial final week of summer for North America. It coincides with the U.S. August employment report, which is the top economic release of the month due to the detail of data it provides. TRhe foccus in recent moths has turned to the Average Hourly Earnings data which is now being used as a proxy for labour tightness and future inflation. The U.S. and Canada have holidays on Monday, so liquidity should thin so after the report. Recent better U.S. economic data have fighting the longer term flow of funds out of the USD to the EUR and JPY.
The EURUSD HOD so far has been 1.1924, while the LOD has been 1.1879. I see the major focus remaining on the 1.2000 line (barrier) as a POTENTIAL future support level. Some expect the ECB to begin to resist further EURUSD gains from here. The yield on the U.S. 10-yr Note (last 2.126%, -0.5bp). My current focus is the 2.10% line. 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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