7.7 EURUSD Daily Review & Outlook
Wed. 7.7, for the past 24 hours:
• EURUSD has dropped 50 pips against the previous day close;
• ↓ 88 pips High & Low extreme move, vs. 61.6 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 4.8 -> 8.1 STRONG of late session
• EUR in early session WEAK 1.5 -> 4.0 MEDIUM of late session
Market Focus & Moods:
• Eyes on oil price was right, actual running was that Oil reversal lower boosts USD/CAD. And Tuesday's bond market is another focus. US 30 years bond rate fell below 2%, since both EU and US stock market declined. High commodities price and low yields won't be both right. EURUSD dropped as US stroke again.
• Wednesday, inflation & Fed's taper back to focus at FOMC's minutes LON 7 pm. And morning for EU's soft data, afternoon 3 pm, US JOLTS Job. We hope FOMC minutes gives more clue for next step.
Next Step:
• Dollar continue its strike then.
• I expect a test 1st support 1.1795-90, 2nd support 1.1765 and close above 1.1765 area.
• EURUSD has dropped 50 pips against the previous day close;
• ↓ 88 pips High & Low extreme move, vs. 61.6 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 4.8 -> 8.1 STRONG of late session
• EUR in early session WEAK 1.5 -> 4.0 MEDIUM of late session
Market Focus & Moods:
• Eyes on oil price was right, actual running was that Oil reversal lower boosts USD/CAD. And Tuesday's bond market is another focus. US 30 years bond rate fell below 2%, since both EU and US stock market declined. High commodities price and low yields won't be both right. EURUSD dropped as US stroke again.
• Wednesday, inflation & Fed's taper back to focus at FOMC's minutes LON 7 pm. And morning for EU's soft data, afternoon 3 pm, US JOLTS Job. We hope FOMC minutes gives more clue for next step.
Next Step:
• Dollar continue its strike then.
• I expect a test 1st support 1.1795-90, 2nd support 1.1765 and close above 1.1765 area.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.