Monday 8.2, for the past Friday:
• EURUSD has dropped 18 pips against the previous day close; touched target area edge set Thursday, but pull back a lot with up and down pattern.
• ↓ 57.1 pips High & Low extreme move, vs. 58.9 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.8 -> 6.4 MEDIUM of late session
• EUR in early session MEDIUM 5.8 -> 5.5 MEDIUM of late session
Market Focus & Moods:
• The USD did not take its clues from the lower rates or lower inflation (and move lower). Instead it moved higher in reaction to flight to safety flows. The CHF and the USD are ending the day higher (traditional flight to safety currencies) and are the strongest of the majors.
• Monday, 7am LON German Retail Sales, 8~9am EU Markit Manufacturing PMI, afternoon 3pm US ISM Manufacturing PMI; There would be some nice volatility in the trading sessions.
Next Step:
• I expect a test 1.1900~1.1910 resistance again, and close around 1.1915 ~ 1.1890 area.
• Upside further resistance 1.1923, downside 1st support 1.1850, 2nd support 1.1828.
• EURUSD has dropped 18 pips against the previous day close; touched target area edge set Thursday, but pull back a lot with up and down pattern.
• ↓ 57.1 pips High & Low extreme move, vs. 58.9 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.8 -> 6.4 MEDIUM of late session
• EUR in early session MEDIUM 5.8 -> 5.5 MEDIUM of late session
Market Focus & Moods:
• The USD did not take its clues from the lower rates or lower inflation (and move lower). Instead it moved higher in reaction to flight to safety flows. The CHF and the USD are ending the day higher (traditional flight to safety currencies) and are the strongest of the majors.
• Monday, 7am LON German Retail Sales, 8~9am EU Markit Manufacturing PMI, afternoon 3pm US ISM Manufacturing PMI; There would be some nice volatility in the trading sessions.
Next Step:
• I expect a test 1.1900~1.1910 resistance again, and close around 1.1915 ~ 1.1890 area.
• Upside further resistance 1.1923, downside 1st support 1.1850, 2nd support 1.1828.
