9.8 EURUSD Daily Review & Outlook
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9.8 Wednesday, for the past 24 hours:
• EURUSD has dropped 30 pips against the previous day close; hit target set yesterday, but close below target area.
• ↓ 47.9 pips High & Low extreme move, vs. 46.1 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 6.0 -> 9.1 STRONG of late session
• EUR in early session MEDIUM 6.3 -> 6.2 MEDIUM of late session
Market Focus & Moods:
• Ultra-light news combined with good price actions. Higher Treasury yields but tough to answer what boots it, because the move in rates since weak non-farm payrolls has been counter-intuitive. Dollar strengthens, crypto crashes! Fed President Robert Kaplan's portfolio has been released.
• Wednesday, light econ. data in the morning, LDN 3pm Canadian Rate Decision, and US JOLTS Job Openings (not very important.)
Next Step:
• Due to ECB's rate decision on Thursday, I expect a range up and down:
- Resistances 1st 1.1855, 2nd 1.1870;
- Support at 1st 1.1835, 2nd 1.1820 ~ 1.1827 (strong), 3rd 1.1810;
- Close around 1.1855~ 1.1830 area.
BTW, Capt.Z and his fellows are very active at t.me/cTraderClub to discuss live trading, news events, FX gossips etc.
• EURUSD has dropped 30 pips against the previous day close; hit target set yesterday, but close below target area.
• ↓ 47.9 pips High & Low extreme move, vs. 46.1 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 6.0 -> 9.1 STRONG of late session
• EUR in early session MEDIUM 6.3 -> 6.2 MEDIUM of late session
Market Focus & Moods:
• Ultra-light news combined with good price actions. Higher Treasury yields but tough to answer what boots it, because the move in rates since weak non-farm payrolls has been counter-intuitive. Dollar strengthens, crypto crashes! Fed President Robert Kaplan's portfolio has been released.
• Wednesday, light econ. data in the morning, LDN 3pm Canadian Rate Decision, and US JOLTS Job Openings (not very important.)
Next Step:
• Due to ECB's rate decision on Thursday, I expect a range up and down:
- Resistances 1st 1.1855, 2nd 1.1870;
- Support at 1st 1.1835, 2nd 1.1820 ~ 1.1827 (strong), 3rd 1.1810;
- Close around 1.1855~ 1.1830 area.
BTW, Capt.Z and his fellows are very active at t.me/cTraderClub to discuss live trading, news events, FX gossips etc.
Nota
Some Fed officials speak as scheduled.Wednesday 8 September:
-Federal Reserve Bank of New York President John Williams will speak on the economic outlook and monetary policy
-Fed Dallas President Robert Kaplan will participate in Discussion of Economic Developments and Implications for Monetary Policy
-Fed Chicago President Charles Evans will give welcome remarks before a virtual "Exploring Career Pathways in Economic and Related Fields" event
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