Monday September 18, 2017 - 09:46:18 GMT
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Amazing Trader Ideas For 18 September 2017 Register To Test Your Amazing Trader
Today sees a typically slow U.S. economic calendar to start the new week. EZ final August HICP at 1.50 yy is running closer to the ECB target of "just under 2.00%". This suggests, if desire, the central bank would be close enough to its target to justify a further Quantitative Ease taper. President Draghi remains very cautious on policy, partially because he would like to contain the value of the EUR.
The EURUSD HOD so far has been 1.1956, while the LOD has been 1.1914. Friday's HOD was 1.1987. My focus remains the EURUSD 1.2000 line which must still be established as the next support level to recharge the EURUSD advance. The yield on the U.S. 10-yr Note was last 2.209%, +0.9bp. The 2.20% level remains in play. Use the 10-yr note yield as your short-hand sentiment barometer. Your Amazing Trader charts can provide market direction.
Forex trading conditions can change quickly, so use your AT charts to monitor current support (red) and resistance (blue) levels. The technicals often 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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