Tuesday September 12, 2017 - 09:12:42 GMT
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No major data are due from the U.S. again today. The JOLTS Survey today reportedly is a favorite of Fed Chair Yellen, but the market does not know what to do with it. Hurricane Irene continues to weaken and is no longer a market factor. The Focus of trade has now turned back to the performance of equity and bond markets. Higher equities and rising bond yields tend to be a USD positive. Key is whether markets remain in a risk on posture today. This is a relatively light week for data, so technicals should be driving trade.
The EURUSD HOD so far has been 1.1979, while the LOD has been 1.1945. The major focus remains the EURUSD 1.2000 line which would have to be established as the new potential support level to maintain the EURUSD advance. The yield on the U.S. 10-yr Note was last 2.151%, +2.9bp. Use the 10-yr as your 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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