Ranges and Ranges

The move in risk trades is once again off a critical level on ES at 1355/57. Each time it has bounced off this level, it has been to a lesser extent. The fundamental data as stressed yesterday is deteriorating. FOMC minutes may not hold much and hence the probability of a slippage below 1355 look increasingly likely now. How ever 1373 on the upside holds the key for ES. Acceleration above that to 1382 could well be expected on the upside.

SCHATZ eased off its record highs (understandably so) as it tests the weaker hands at 110.5. This level really needs to hold for the breakout to be valid.

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  1. The April Live Trade Sheet
  2. The April Live Trade Room
  3. C3X Performance FX portfolio
  4. Key economic data and speaker list for this week can be found here:Economic calendar
  5. The Bond auction schedule can be found here: Bond schedule

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