Wednesday January 11, 2017 - 10:35:20 GMT
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Amazing Trader Early EURUSD Ideas for 11 January 2017 Register for the Amazing Trader
Amazing Trader EURUSD charts updated on your systems
In my opinion the EURUSD pair has to be taken one day at a time. However you will note on the Amazing Trader five minute chart a downtrendline which has been working exceptionally well since yesterday. There is not much in the way of market-moving data slated for release today, although the Trump press conference this afternoon in NYC could be a source of market volatility, depending on what he might say.
The EURUSD HOD has been 1.0567, while the LOD at 1.0526 is currently in play. Local resistance comes in at 1.0536. My focus remains on the "neutral 1.0550" level. On the downside, 1.0500 is an obvious target for traders as long as the downtrend from yesterday holds.
The GBPUSD is on the back foot today following mixed U.K. output and trade data. The EURGBP is modestly higher. Movements in and out of the EURGBP cross can often tip the scale in EURUSD activity.
Tune in frequently to the GVI Forum for trading insights as the session unfolds.
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