10.8 EURUSD Daily Review & Outlook
10.8 Friday, for the past 24 hours:
• EURUSD has dropped 1 pips against the previous day close; hit/missed target set yesterday, but rebound/pull back not enough as expected.
• ↓ 24.8 pips High & Low extreme move, vs. 50.1 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 2.2 -> 5.2 MEDIUM of late session
• EUR in early session MEDIUM 4.0 -> 4.0 MEDIUM of late session
Market Focus & Moods:
• Very limited range movement before NFP. Though equities rise up, due to ECB announced new purchase plan after PEPP, and US republicans said they will let demos extend debt ceilings in normal procedure. Watch out that US Bond Yields back to the highest level, since July.
• Friday, morning LDN 7am German Balance of Trade;
Afternoon, 1:30pm US NFP ; 3pm US Wholesale Inventories;
Next Step:
• Due to NFP and US Bond Yield rise ahead of the event, I expect a test:
- Resistances 1st 1.1573, 2nd 1.1585, 3rd 1.1603;
- Support at 1st 1.1540, 2nd 1.1530, 3rd 1.1494-1.1500 zone
- Close around 1.1500~ 1.1475 area.
• EURUSD has dropped 1 pips against the previous day close; hit/missed target set yesterday, but rebound/pull back not enough as expected.
• ↓ 24.8 pips High & Low extreme move, vs. 50.1 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 2.2 -> 5.2 MEDIUM of late session
• EUR in early session MEDIUM 4.0 -> 4.0 MEDIUM of late session
Market Focus & Moods:
• Very limited range movement before NFP. Though equities rise up, due to ECB announced new purchase plan after PEPP, and US republicans said they will let demos extend debt ceilings in normal procedure. Watch out that US Bond Yields back to the highest level, since July.
• Friday, morning LDN 7am German Balance of Trade;
Afternoon, 1:30pm US NFP ; 3pm US Wholesale Inventories;
Next Step:
• Due to NFP and US Bond Yield rise ahead of the event, I expect a test:
- Resistances 1st 1.1573, 2nd 1.1585, 3rd 1.1603;
- Support at 1st 1.1540, 2nd 1.1530, 3rd 1.1494-1.1500 zone
- Close around 1.1500~ 1.1475 area.
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