Friday October 6, 2017 - 08:45:49 GMT
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The EURUSD HOD so far has been 1.1716, while the LOD has been 1.1686. Dealers have set themselves up long USD into the September U.S. employment data on today. The jobs data are expected to have been adversely impacted by the two major U.S. hurricanes Irma in the month, but traders appear to be looking through the data It should take a time for the storm effects to work their way through U.S. data.
The Catalan situation in Spain will still be around after the jobs data. Reportedly, the ECB has been a heavy buyer of Spanish bonds this week. The outcome of the vote cannot be ignored by Madrid. Some sort of negotiations will have to take place, which will have broader implications for European unity as a whole, especially after the U.K. Brexit. The yield on the benckmark U.S. 10-yr note was last 2.366%, +1.6 bp.
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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