10.22 EURUSD Daily Review & Outlook
10.22 Friday, for the past 24 hours:
• EURUSD has dropped 24 pips against the previous day close; missed target set yesterday, since risk aversion the whole day trade.
• ↓ 48 pips High & Low extreme move, vs. 50.6 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 6.2 -> 7.1 STRONG of late session
• EUR in early session MEDIUM 3.9 -> 2.9 WEAK of late session
Market Focus & Moods:
• Today there was finally a relief of Yen's fall in the past 2 weeks . The move flied somewhat in the face of the overall tone in markets as equities rose and bond yields continued to the upside. JPY CHF USD stay strongest side for the whole day.
• Friday, morning LDN 8-9am EU Markit Services/Manuf./Comp PMI;
Afternoon, 2:45pm US Markit Services/Manuf./Comp PMI;
Next Step:
• Due to Friday with little important economic data I expect a test:
- Resistances 1st 1.1630, 2nd 1.1655(strong), 3rd 1.1670;
- Support at 1st 1.1617, 2nd 1.1603, 3rd 1.1588;
- Close around 1.1650~ 1.1625 area.
• EURUSD has dropped 24 pips against the previous day close; missed target set yesterday, since risk aversion the whole day trade.
• ↓ 48 pips High & Low extreme move, vs. 50.6 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 6.2 -> 7.1 STRONG of late session
• EUR in early session MEDIUM 3.9 -> 2.9 WEAK of late session
Market Focus & Moods:
• Today there was finally a relief of Yen's fall in the past 2 weeks . The move flied somewhat in the face of the overall tone in markets as equities rose and bond yields continued to the upside. JPY CHF USD stay strongest side for the whole day.
• Friday, morning LDN 8-9am EU Markit Services/Manuf./Comp PMI;
Afternoon, 2:45pm US Markit Services/Manuf./Comp PMI;
Next Step:
• Due to Friday with little important economic data I expect a test:
- Resistances 1st 1.1630, 2nd 1.1655(strong), 3rd 1.1670;
- Support at 1st 1.1617, 2nd 1.1603, 3rd 1.1588;
- Close around 1.1650~ 1.1625 area.
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