10.26 EURUSD Daily Review & Outlook
10.26 Tuesday, for the past 24 hours:
• EURUSD has dropped 36 pips against the previous day close; missed target set yesterday.
• ↓ 75 pips High & Low extreme move, vs. 49.3 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.5 -> 5.5 MEDIUM of late session
• EUR in early session WEAK 1.9 -> 3.1 WEAK of late session
Market Focus & Moods:
• Quite session extended. Dollar and Gold hold their gains (there is only one true direction). Some of the commentaries stress a dovish stance ahead of the ECB meeting. CHF EUR lag . Equities gain, Dow and US500 recorded higher level.
• Tuesday, morning no important data;
Afternoon, 2pm US Hour Prices; 3pm US New Home Sales;
Next Step:
• Due to light data in the morning and weak EUR signals, I expect a test:
- Resistances 1st 1.1618-1625 (strong zone), 2nd 1.1640, 3rd 1.1655;
- Support at 1st 1.1603 (weak), 2nd 1.1590, 3rd 1.1580 (weak);
- Close around 1.1605~ 1.1580 area.
• EURUSD has dropped 36 pips against the previous day close; missed target set yesterday.
• ↓ 75 pips High & Low extreme move, vs. 49.3 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.5 -> 5.5 MEDIUM of late session
• EUR in early session WEAK 1.9 -> 3.1 WEAK of late session
Market Focus & Moods:
• Quite session extended. Dollar and Gold hold their gains (there is only one true direction). Some of the commentaries stress a dovish stance ahead of the ECB meeting. CHF EUR lag . Equities gain, Dow and US500 recorded higher level.
• Tuesday, morning no important data;
Afternoon, 2pm US Hour Prices; 3pm US New Home Sales;
Next Step:
• Due to light data in the morning and weak EUR signals, I expect a test:
- Resistances 1st 1.1618-1625 (strong zone), 2nd 1.1640, 3rd 1.1655;
- Support at 1st 1.1603 (weak), 2nd 1.1590, 3rd 1.1580 (weak);
- Close around 1.1605~ 1.1580 area.
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