Thursday September 14, 2017 - 08:43:21 GMT
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In this era of Quantitative Ease (QE), the focus always is on the major central banks. The hope for many is that these policies will die a natural death, but it seems that something new is always standing in the way. Today the spotlight is on the Bank of England. No policy changes are expected. The tone of policy statements will be closely watched. Today also sees August CPI data.The Fed is hoping for price stability as a precuror removing the remaining QE starting at the end of the year. The CPI data will be viewed in that context today.
The EURUSD HOD so far has been 1.1910, while the LOD has been 1.1866. The major focus remains the EURUSD 1.2000 line which still has to be established as the next support area to maintain the EURUSD advance. The yield on the U.S. 10-yr Note was last 2.190%, -0.2bp. Suddenly 2.20% is back in play. 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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