Wednesday October 4, 2017 - 09:07:44 GMT
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The EURUSD HOD so far has been 1.1781, while the LOD has been 1.1734. The focus of trade appears to be moving away from start of new quarter seasonal capital flows into the USD and also into equities. Dealers are now setting themselves up for August U.S. employment data on Friday. The jobs data are expected to have been adversely impacted by Hurricane Irma in the month. It might take a while for storm effects to work their way through the system. The yield on the benckmark 10-yr note was last 2.319%, -1.5 bp.
Today key U.S. ADP jobs data and the ISM Service PMI (especially jobs sub-component) will be watched for any inklings about Friday's data. These items are not always reliable indicators. Use your Amazing Trader charts to 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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