Late in Europe, equity prices are closing mixed. U.S. markets are currently modestly weaker. Across the board, fixed income prices are higher (lower yields). In forex trading, the EUR is mixed on its crosses. The USD is mixed.
Livingston nh 14:10:15 GMT - 12/30/2016
My concern for the next few weeks is that as the Torch is passed the current occupant doesn't use it to light the curtains in the WH before he leaves -- The markets may have a few shox
Amazing Trader EURUSD charts updated on your systems
Trading based on "conventional wisdom" has increasingly become a strategy to be avoided. Financial markets have always reacted very quickly to new information, but I believe universal electronic trading has dramatically shortened the half-life of "ideas". So the strategy of buying USD (selling EURUSD) after the Christmas break into the new year had run its course by the middle of this week. Watching the markets yesterday, the Amazing Trader lines were highlighting the risk of a run at the 1.0500 line and it finally happened after the N.Y. close when markets had thinned.
For today, the HOD has been 1.0662 according to my sources, but I have seen highs all the way to 1.0670. The LOD, if it matters, is 1.0483 from before the spike. I am using 1.0600 and 1.0550 as guideposts until new support and resistance levels are developed. The EURUSD 20-day moving average is now BELOW the market at 1.0522. Early price action today has already cleared out the nearby resting stops. Keep tuned to the GVI Forum as the session develops for timely updates.
GVI Forex Blog 09:56:12 GMT - 12/30/2016
Pre-Market Forex Trading Ideas for 30 Dec 2016
The year is ending with a bang. Thursday had been a quiet session, but after the N.Y. close, relentless demand for the EURUSD finally saw this pair break through solid resistance at 1.0500 and then run to 1.0670 in extremely thin conditions. I suspect there was a Chinese reserve-related connection in all this.
This has been a difficult end of year period after the unexpected decline in equity prices on Wednesday. Many short-term equity traders mistakenly had gotten set up for "seasonal end of year equity demand". Conventional wisdom can be dangerous at times.
One key feature of trading Thursday was the yield in the 10-yr note breaking below the 2.50% barrier to 2.466%, -4.6bp. It was last 2.479%, -0.2bp.
WEEKLY HIGH IMPACT NEWS:
14:45 US- Chicago PMI
Various - PMIs 3-Jan Tue
Various - PMIs
08:55 DE- Unemployment 4 Jan Wed
Various Service PMIs
10:00 US- flash HICP
13:15 US- ADP Payrolls
19:00 US- Fed Minutes 5-Jan Thu
Various Service PMIs
13:30 US- Jobless Claims
16:00 EIA Crude 6-Jan Fri
07:00 DE Retail Sales
13:30 US/CA- Employment/Trade
John M. Bland, MBA co-founder Global-View.com
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
looking for your first broker or do you need of a new one? There are
more critical things to consider than you might have thought.
We were trading long before there were online brokers. Global-View
has been directly involved with the industry since its infancy. We've
seen everything and are up-to-data with recent regulatory changes.