Stocks turn lower
The dollar has moved lower on the headline that the Senate proposal would delay the corporate tax cut to 2019.
The stock market has also moved lower with the S&P down about -16.5 points and the Nasdaq down around -60 points. The Dow is lower by -150 points.
In the forex market:
EURUSD. The EURUSD has moved to new session highs and moves closer to the 1.1661-68 target area. The 1.1661 is the swing low from August AND the 38.2% of the move down from the October 26 high. The 1.1668 is the swing level from early October. Remember the neckline as well at 1.1673. All are key targets. The pair is moving away from the 200 hour MA now. That MA held support over the last two hours.
USDJPY. The USDJPY is back to moving away from the 100 bar MA on the 4-hour chart again and below the yellow swing area. The 50% at 113.187, the 200 bar MA on the 4-hour at 113.05 and the swing low from last week at 112.952 are now the downside target. Sellers this is your clue. Can you take it lower?
