Friday September 22, 2017 - 09:31:16 GMT
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Forex markets continue to digest the Fed tightening announcement on Wednesday. This might take a little longer than usual. The key question in coming sessions will be whether we have seen the lows recently in the yield on the U.S. 10-yr note. The U.S. flash Markit PMI data due later is a second-tier report. Canadian data scheduled are important for the CAD. Flash EZ PMI data today were top-tier. robust and EUR positive.
The EURUSD HOD so far has been 1.2003, while the LOD has been 1.1936. The focus has shifted back to the EURUSD 1.2000 line. Use it as an indication of the EURUSD trading bias. The yield on the U.S. 10-yr Note was last 2.261%, -1.2bp. The 2.20%-2.30% range is pivotal. Use the 10-yr note yield as your short-hand sentiment barometer. Your Amazing Trader charts will provide market direction.
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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