Monday August 21, 2017 - 09:50:31 GMT
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Markets are looking ahead to ths K.C Fed Jackson Hole Symposium featuring top central banks from all over the world. Of particular interest will be speeches by Fed Chair Yellen and ECB President Draghi on Friday. I don't know if they are under some pressure to say something newsworthy, but it appeared that the ECB last week was downplaying expectations about Draghi's speech. Also the Fed last Wednesday released the latest Fed Minutes. Its had to figure out what new either might have to say.
The EURUSD HOD so far has been 1.1765, while the LOD has been 1.1731. The EURUSD remains on the back foot as EUR demand appears to be waning. Liquidity has been steadily returning to the markets as the summer holiday period winds down. Keep an eye on the yield on the U.S. 10-yr Note (last 2.183%, -1.4bp). Follow your Amazing Trader charts for market direction.
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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