Friday 6.25, for the past 24 hours:
• EURUSD has raised 3 pips against the previous day close;
• ↑ 39 pips High & Low extreme move, vs. 67.3 pips of 22 days Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 4.5 -> 5.1 MEDIUM of late session
• EUR in early session MEDIUM 5.9 -> 3.9 MEDIUM of late session
Market Focus & Moods:
• European major indices closed solidly higher, BOE is a bit less hawkish, Economic data today was mixed. The expectations for President Biden's infrastructure package sent stocks higher. Overall it's a mixed day, EURUSD consolidates the rebounce since Monday.
• Tomorrow, Friday, less heavy in economic data, in the afternoon US PCE (LON 13:30), would be a market focus.
Next Step:
• EURUSD hold 1.1910-1920 support area but dropped to test it again Thursday afternoon. If it can hold above it, the longer the better for buyers. Break downside, next level is soft support at 1.1880.
• I have no bias for Friday, upside 1st target 1.1975, downside support area 1.1880-1885.
• EURUSD has raised 3 pips against the previous day close;
• ↑ 39 pips High & Low extreme move, vs. 67.3 pips of 22 days Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 4.5 -> 5.1 MEDIUM of late session
• EUR in early session MEDIUM 5.9 -> 3.9 MEDIUM of late session
Market Focus & Moods:
• European major indices closed solidly higher, BOE is a bit less hawkish, Economic data today was mixed. The expectations for President Biden's infrastructure package sent stocks higher. Overall it's a mixed day, EURUSD consolidates the rebounce since Monday.
• Tomorrow, Friday, less heavy in economic data, in the afternoon US PCE (LON 13:30), would be a market focus.
Next Step:
• EURUSD hold 1.1910-1920 support area but dropped to test it again Thursday afternoon. If it can hold above it, the longer the better for buyers. Break downside, next level is soft support at 1.1880.
• I have no bias for Friday, upside 1st target 1.1975, downside support area 1.1880-1885.
