Durable goods orders fell after three months of growth. US 10Y bond yields dropped from 2.376% to 2.340%.
As today is the 4th Thursday in November, the US is celebrating Thanksgiving Day. American exchanges are closed today and will close early on Friday. Volumes are thin on the market, so from our current price of 1.1829, we could move up to 50 pips in either direction.
Considering that traders are buying euros on the crosses and that markets are paying less attention to the German coalition talks, I’m predicting a test of the 112th degree followed by a rebound towards the lower boundary of the B-B channel. When the crosses are rising, buyers don’t give up so easily.
If markets do decide to pay attention to Germany, how a real time forex signals, I’d like to see the price return to the LB balance line, which currently runs through 1.1763.