9.15 EURUSD Daily Review & Outlook
9.15 Wednesday, for the past 24 hours:
• EURUSD has dropped 4 pips against the previous day close; missed target set yesterday, due to US Inflation Rate slips.
• ↓ 45.9 pips High & Low extreme move, vs. 46.3 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 6.2 -> 7.1 STRONG of late session
• EUR in early session MEDIUM 4.0 -> 4.5 MEDIUM of late session
Market Focus & Moods:
• Simple at start, US CPI was lower than expected and the dollar fell. Core CPI rose just 0.1% compared to 0.3% expected. After stock open, indices began to struggle and the mood quickly shifted towards risk aversion. Dollars recovered all loss later, and halting of USD losses rather than big bullish USD signs. It all bears very close watching.
• Wednesday, Morning European CPIs 7:45-9:00am LDN, 10am, EU Industrial Production;
Afternoon, 1:30pm US Export/Import Prices; 2:15 US Industrial Production;
Next Step:
• Due to failure forecasting yesterday, I expect the same again:
- Resistances 1st 1.1820, 2nd 1.1830 (strong), 3rd 1.1843(weak);
- Support at 1st 1.1800, 2nd 1.1792, 3rd 1.1780-1.1770 zone
- Close around 1.1760~ 1.1785 area, lower than yesterday's.
• EURUSD has dropped 4 pips against the previous day close; missed target set yesterday, due to US Inflation Rate slips.
• ↓ 45.9 pips High & Low extreme move, vs. 46.3 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 6.2 -> 7.1 STRONG of late session
• EUR in early session MEDIUM 4.0 -> 4.5 MEDIUM of late session
Market Focus & Moods:
• Simple at start, US CPI was lower than expected and the dollar fell. Core CPI rose just 0.1% compared to 0.3% expected. After stock open, indices began to struggle and the mood quickly shifted towards risk aversion. Dollars recovered all loss later, and halting of USD losses rather than big bullish USD signs. It all bears very close watching.
• Wednesday, Morning European CPIs 7:45-9:00am LDN, 10am, EU Industrial Production;
Afternoon, 1:30pm US Export/Import Prices; 2:15 US Industrial Production;
Next Step:
• Due to failure forecasting yesterday, I expect the same again:
- Resistances 1st 1.1820, 2nd 1.1830 (strong), 3rd 1.1843(weak);
- Support at 1st 1.1800, 2nd 1.1792, 3rd 1.1780-1.1770 zone
- Close around 1.1760~ 1.1785 area, lower than yesterday's.
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