10.4 EURUSD Daily Review & Outlook
10.4 Monday, for the past 24 hours:
• EURUSD has risen 18 pips against the previous day close; missed target set last Thursday, and stay above it.
• ↑ 44 pips High & Low extreme move, vs. 49 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 3.9 -> 1.8 WEAK of late session
• EUR in early session MEDIUM 4.1 -> 3.1 WEAK of late session
Market Focus & Moods:
• Commodity currencies rebounded, Equities moved higher. The US core PCE data for the month of August remain steady at 3.6%. The EURUSD spent the North American session moving up and down in a consolidative fashion.
• Monday, light data the whole day. Morning LDN 8am Spain Unemployment;
Afternoon, 3pm US Factory Orders.
Next Step:
• Due to Labour week ahead, I expect a test:
- Resistances 1st 1.1610, 2nd 1.1625-30(Strong), 3rd 1.1640;
- Support at 1st 1.1584, 2nd 1.1563, 3rd 1.15??;
- Close around 1.1590~ 1.1565 area.
• EURUSD has risen 18 pips against the previous day close; missed target set last Thursday, and stay above it.
• ↑ 44 pips High & Low extreme move, vs. 49 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 3.9 -> 1.8 WEAK of late session
• EUR in early session MEDIUM 4.1 -> 3.1 WEAK of late session
Market Focus & Moods:
• Commodity currencies rebounded, Equities moved higher. The US core PCE data for the month of August remain steady at 3.6%. The EURUSD spent the North American session moving up and down in a consolidative fashion.
• Monday, light data the whole day. Morning LDN 8am Spain Unemployment;
Afternoon, 3pm US Factory Orders.
Next Step:
• Due to Labour week ahead, I expect a test:
- Resistances 1st 1.1610, 2nd 1.1625-30(Strong), 3rd 1.1640;
- Support at 1st 1.1584, 2nd 1.1563, 3rd 1.15??;
- Close around 1.1590~ 1.1565 area.
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