Tuesday June 6, 2017 - 09:12:17 GMT
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Markets are in a cautious posture early Tuesday as they prepare for a busy Thursday which features an ECB policy meeting, potentially difficult political testimony in Congress by former FBI Chief Comey for President Trump and U.K. Parliamentary elections. Definitive results of the U.K. vote may not be known until early Friday.
Today The EURUSD HOD has been 1.1278, while the LOD has been 1.1242. This is another narrow range. Daily highs and lows are always key to trading. The focus of trading at the moment is the neutral 1.1250 level again. The expectation is that Thursday developments could decide whether EURUSD heads for 1.1200 or 1.1300 next.
Forex trading conditions can change quickly, so use your AT charts to monitor current support (red) and resistance (blue) levels. The technicals frequently 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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