Wednesday October 11, 2017 - 09:11:11 GMT
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The EURUSD HOD so far has been 1.1845, while the LOD has been 1.1795. A major market feature early today is a response by Spanish PM Rajoy to the Catalan situation. He cannot ignore a reported 90% vote in favor of separation. Its time now for a constructive proposal. EURUSD will be highly sensitive to what he says.
Later today the latest Fed Meeting Minutes will be released. Coming into the statement, the Fed has already commenced scaling back the reinvestment of its massive bond portfolio, and markets (80% odds) are pricing in a December rate hike. The yield on the benckmark U.S. 10-yr note is 2.348%, -1.3 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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