8.31 EURUSD Daily Review & Outlook
8.31 Tuesday, for the past 24 hours:
• EURUSD has risen 4 pips against the previous day close; hit target set yesterday.
• ↓ 27.1 pips High & Low extreme move, vs. 47.7 pips of 22 day Average Range. (Extreme low of August)
Strength (0~10) Comparison:
• USD in early session MEDIUM 6.0 -> 6.1 MEDIUM of late session
• EUR in early session MEDIUM 5.6 -> 7.0 STRONG of late session
Market Focus & Moods:
• The pending home sales and Dallas Fed were both on the soft side but had no noticeable impact on prices with the market more focused on month-end tomorrow and a heavy slate of economic later in the week. For the most part, FX moved sideways as Treasuries and stocks continued Friday's post-Powell moves. That kind of dovish setup should have weighed on the dollar but it didn't materialize in any meaningful sense.
• Tuesday, morning 7am LON German Unemployment, 10am European Inflation Rate; Afternoon, 2:45pm Chicago PMI, 3pm CB Consumer Confidence
Next Step:
• Due to tomorrow is the end of month, I expect medium volatility and a test:
- Resistances 1st 1.1810, 2nd 1.1827, 3rd 1.1845;
- Support at 1st 1.1785, 2nd 1.1772, 3rd 1.1765;
- Close around open area, unpredictable of end of month.
Due to some reason, this outlook was delayed.
• EURUSD has risen 4 pips against the previous day close; hit target set yesterday.
• ↓ 27.1 pips High & Low extreme move, vs. 47.7 pips of 22 day Average Range. (Extreme low of August)
Strength (0~10) Comparison:
• USD in early session MEDIUM 6.0 -> 6.1 MEDIUM of late session
• EUR in early session MEDIUM 5.6 -> 7.0 STRONG of late session
Market Focus & Moods:
• The pending home sales and Dallas Fed were both on the soft side but had no noticeable impact on prices with the market more focused on month-end tomorrow and a heavy slate of economic later in the week. For the most part, FX moved sideways as Treasuries and stocks continued Friday's post-Powell moves. That kind of dovish setup should have weighed on the dollar but it didn't materialize in any meaningful sense.
• Tuesday, morning 7am LON German Unemployment, 10am European Inflation Rate; Afternoon, 2:45pm Chicago PMI, 3pm CB Consumer Confidence
Next Step:
• Due to tomorrow is the end of month, I expect medium volatility and a test:
- Resistances 1st 1.1810, 2nd 1.1827, 3rd 1.1845;
- Support at 1st 1.1785, 2nd 1.1772, 3rd 1.1765;
- Close around open area, unpredictable of end of month.
Due to some reason, this outlook was delayed.
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