9.7 EURUSD Daily Review & Outlook
9.7 Tuesday, for the past 24 hours:
• EURUSD has dropped 15 pips against the previous day close; Stay below target area - another sign supports sellers.
• ↓ 30.6 pips High & Low extreme move, vs. 47.6 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session STRONG 8.2 -> 5.1 MEDIUM of late session
• EUR in early session MEDIUM 6.2 -> 4.1 MEDIUM of late session
Market Focus & Moods:
• Due to N.A. holiday, a back-and-fill around the dollar trade as it recovers much of the post-payrolls decline.
• Tuesday, 7am LDN German Industrial production, 10am European GDP / Employment Change / ZEW Economic Sentiment Index; afternoon some US Bill and Note auctions from 3pm - 6pm.
Next Step:
• Due to Americans back to work :), I expect a test lower support:
- Resistances 1st 1.1883, 2nd 1.1893, 3rd 1.1909;
- Support at 1st 1.1855, 2nd 1.1840, 3rd 1.1827;
- Close around 1.1870 ~ 1.1845 area.
• EURUSD has dropped 15 pips against the previous day close; Stay below target area - another sign supports sellers.
• ↓ 30.6 pips High & Low extreme move, vs. 47.6 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session STRONG 8.2 -> 5.1 MEDIUM of late session
• EUR in early session MEDIUM 6.2 -> 4.1 MEDIUM of late session
Market Focus & Moods:
• Due to N.A. holiday, a back-and-fill around the dollar trade as it recovers much of the post-payrolls decline.
• Tuesday, 7am LDN German Industrial production, 10am European GDP / Employment Change / ZEW Economic Sentiment Index; afternoon some US Bill and Note auctions from 3pm - 6pm.
Next Step:
• Due to Americans back to work :), I expect a test lower support:
- Resistances 1st 1.1883, 2nd 1.1893, 3rd 1.1909;
- Support at 1st 1.1855, 2nd 1.1840, 3rd 1.1827;
- Close around 1.1870 ~ 1.1845 area.
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