Monday 8.16, for the past 24 hours:
• EURUSD has risen 63 pips against the previous day close; hit all 3 resistance targets set Thursday, and stay above 3rd resistance.
• ↑74.4 pips High & Low extreme move, vs. 50 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 3.9 -> 0.9 WEAK of late session
• EUR in early session STRONG 7.2 -> 6.0 MEDIUM of late session
Market Focus & Moods:
• US Dollars shit us Friday afternoon, Michigan Consumer Sentiment Index didn't surprise us for long time. But today, it did, like a ghost attack. Yields in the US tumbling lower. Since Michigan Consumer Sentiment Index pull our focus back to consumption/inflation, watch out Tuesday's US Retail Sales data.
• Monday, light economic data for both European and US sessions.
Next Step:
• I expect a consolidation movement for EURUSD, it might test 1st resistance 1.1807, 2nd resistance 1.1828 and downside 1st support 1.1790, 2nd support 1.1780, 3rd strong support 1.1765, close around 1.1800 ~ 1.1825 area.
• EURUSD has risen 63 pips against the previous day close; hit all 3 resistance targets set Thursday, and stay above 3rd resistance.
• ↑74.4 pips High & Low extreme move, vs. 50 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 3.9 -> 0.9 WEAK of late session
• EUR in early session STRONG 7.2 -> 6.0 MEDIUM of late session
Market Focus & Moods:
• US Dollars shit us Friday afternoon, Michigan Consumer Sentiment Index didn't surprise us for long time. But today, it did, like a ghost attack. Yields in the US tumbling lower. Since Michigan Consumer Sentiment Index pull our focus back to consumption/inflation, watch out Tuesday's US Retail Sales data.
• Monday, light economic data for both European and US sessions.
Next Step:
• I expect a consolidation movement for EURUSD, it might test 1st resistance 1.1807, 2nd resistance 1.1828 and downside 1st support 1.1790, 2nd support 1.1780, 3rd strong support 1.1765, close around 1.1800 ~ 1.1825 area.
