10.7 EURUSD Daily Review & Outlook
10.7 Thursday, for the past 24 hours:
• EURUSD has dropped 36 pips against the previous day close; hit target set yesterday, and stay below target area.
• ↓ 71 pips High & Low extreme move, vs. 51.2 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session STRONG 8.0 -> 3.9 MEDIUM of late session
• EUR in early session WEAK 2.1 -> 2.2 WEAK of late session
Market Focus & Moods:
• Energy prices reverse to down, republicans allow demo to use normal procedures the pass the debt limit. Equity bounce up, commodity currencies first fall and rebounce in N.A. session. A busy day.
• Thursday, morning LDN 7am German Industrial Production;
Afternoon, 1:30pm US Initial Jobless Claim; and some Fed/ECB officials speech.
Next Step:
• Due to last day before NFP, I expect a test:
- Resistances 1st 1.1570, 2nd 1.1585;
- Support at 1st 1.1548, 2nd 1.1530;
- Close around 1.1570~ 1.1545 area.
• EURUSD has dropped 36 pips against the previous day close; hit target set yesterday, and stay below target area.
• ↓ 71 pips High & Low extreme move, vs. 51.2 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session STRONG 8.0 -> 3.9 MEDIUM of late session
• EUR in early session WEAK 2.1 -> 2.2 WEAK of late session
Market Focus & Moods:
• Energy prices reverse to down, republicans allow demo to use normal procedures the pass the debt limit. Equity bounce up, commodity currencies first fall and rebounce in N.A. session. A busy day.
• Thursday, morning LDN 7am German Industrial Production;
Afternoon, 1:30pm US Initial Jobless Claim; and some Fed/ECB officials speech.
Next Step:
• Due to last day before NFP, I expect a test:
- Resistances 1st 1.1570, 2nd 1.1585;
- Support at 1st 1.1548, 2nd 1.1530;
- Close around 1.1570~ 1.1545 area.
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