9.2 Thursday, for the past 24 hours:
• EURUSD has risen 32 pips against the previous day close; hit target set yesterday, but pull back not as much as expected.
• ↑ 63.6 pips High & Low extreme move, vs. 48.5 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.0 -> 3.2 WEAK of late session
• EUR in early session STRONG 6.9 -> 6.3 MEDIUM of late session
Market Focus & Moods:
• The ADP employment report has the big miss in the report sending the dollar 30-40 pips lower across the board. In the late session the dollar steadied and then made a slight recovery late in the day, particularly against the euro and pound as the risk trade faded.
• Thursday, morning medium eco. data, LON time 8am Spain Unemployment; 10am European PPI;
Afternoon, 12:30pm US Challenger Job Cuts; 1:30pm Ini. Jobless Claims / Nonfarm Productivity / Trade Balance; 3pm Factory Orders;
Next Step:
• Due to one day before NFP Friday, I expect a up and down, test:
- Resistances 1st 1.1850, 2nd 1.1865, 3rd 1.1884;
- Support at 1st 1.1833-1827, 2nd 1.1813;
- Close around 1.1840-1.1865 area.
• EURUSD has risen 32 pips against the previous day close; hit target set yesterday, but pull back not as much as expected.
• ↑ 63.6 pips High & Low extreme move, vs. 48.5 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.0 -> 3.2 WEAK of late session
• EUR in early session STRONG 6.9 -> 6.3 MEDIUM of late session
Market Focus & Moods:
• The ADP employment report has the big miss in the report sending the dollar 30-40 pips lower across the board. In the late session the dollar steadied and then made a slight recovery late in the day, particularly against the euro and pound as the risk trade faded.
• Thursday, morning medium eco. data, LON time 8am Spain Unemployment; 10am European PPI;
Afternoon, 12:30pm US Challenger Job Cuts; 1:30pm Ini. Jobless Claims / Nonfarm Productivity / Trade Balance; 3pm Factory Orders;
Next Step:
• Due to one day before NFP Friday, I expect a up and down, test:
- Resistances 1st 1.1850, 2nd 1.1865, 3rd 1.1884;
- Support at 1st 1.1833-1827, 2nd 1.1813;
- Close around 1.1840-1.1865 area.
