7.16 EURUSD Daily Review & Outlook
Friday 7.16, for the past 24 hours:
• EURUSD has dropped 26 pips against the previous day close;
• ↓ 54 pips High & Low extreme move, vs. 66 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.1 -> 7.1 STRONG of late session
• EUR in early session MEDIUM 4.1 -> 5.0 MEDIUM of late session
Market Focus & Moods:
• The US dollar bid returned on Thursday without any real catalyst. Early trading was subdued but as the session wore on, falling Treasury yields led to more and more risk aversion and a persistent bid in the yen and dollar.
• Friday, LON 10am, European CPI, afternoon 1:30pm US Retail Sales this is the key data of the day; 3:00pm Michigan Consumer Sentiment Index.
Next Step:
• I have no bias for EURUSD, upside resistance 1.1830 , downside 1st support area 1.1790~1.1780.
• EURUSD has dropped 26 pips against the previous day close;
• ↓ 54 pips High & Low extreme move, vs. 66 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.1 -> 7.1 STRONG of late session
• EUR in early session MEDIUM 4.1 -> 5.0 MEDIUM of late session
Market Focus & Moods:
• The US dollar bid returned on Thursday without any real catalyst. Early trading was subdued but as the session wore on, falling Treasury yields led to more and more risk aversion and a persistent bid in the yen and dollar.
• Friday, LON 10am, European CPI, afternoon 1:30pm US Retail Sales this is the key data of the day; 3:00pm Michigan Consumer Sentiment Index.
Next Step:
• I have no bias for EURUSD, upside resistance 1.1830 , downside 1st support area 1.1790~1.1780.
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