6.22 EURUSD Daily Review & Outlook
For the Past Trading Day:
• EURUSD has raised 59pips against previous day close
• ↑ 74 pips High & Low extreme move, vs. 67.3 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session STRONG 6.7 -> 1.8 WEAK of later session
• EUR in early session MEDIUM 6.3 -> 4.1 MEDIUM of later session
Market Focus & Moods:
• Monday Early session, dollar's momentum out of steam, Fed's Kaplan/Bullard had their talk, the market doesn't see the urgency to hike rates to justify the move in the US dollar last week. Asian indices dropped, esp. Nikkei (-4.03%), later session see a full rise of European to N. American markets. The dollar has a strong pullback against main risk currencies, though US Yields rise to recover partial drop since last Wednesday.
• Tuesday morning with few news to drive, LON 3PM US existing home sales and LON 7PM Fed's Chair Powell testifies
Next Step:
• US dollar would keep soft and volatility softer, EURUSD shall test some pressure level above;
• I expect a test 1.1990~1.1960 and consolidating in this area, then close around 1.1965 ~1.1935 area.
• EURUSD has raised 59pips against previous day close
• ↑ 74 pips High & Low extreme move, vs. 67.3 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session STRONG 6.7 -> 1.8 WEAK of later session
• EUR in early session MEDIUM 6.3 -> 4.1 MEDIUM of later session
Market Focus & Moods:
• Monday Early session, dollar's momentum out of steam, Fed's Kaplan/Bullard had their talk, the market doesn't see the urgency to hike rates to justify the move in the US dollar last week. Asian indices dropped, esp. Nikkei (-4.03%), later session see a full rise of European to N. American markets. The dollar has a strong pullback against main risk currencies, though US Yields rise to recover partial drop since last Wednesday.
• Tuesday morning with few news to drive, LON 3PM US existing home sales and LON 7PM Fed's Chair Powell testifies
Next Step:
• US dollar would keep soft and volatility softer, EURUSD shall test some pressure level above;
• I expect a test 1.1990~1.1960 and consolidating in this area, then close around 1.1965 ~1.1935 area.
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