9.21 EURUSD Daily Review & Outlook
9.21 Tuesday, for the past 24 hours:
• EURUSD has risen 2 pips against the previous day close; hit target set yesterday.
• ↑ 36.3 pips High & Low extreme move, vs. 46 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.5 -> 2.8 WEAK of late session
• EUR in early session MEDIUM 4.2 -> 4.2 MEDIUM of late session
Market Focus & Moods:
• Dollar held the gains, Equities bruised, yields dropped. Gold rise, oil down. A mixed day with less news driven. All this adds much higher stakes to the Fed and PBOC rate decisions this week and ensures that volatility will remain elevated.
• Tuesday, Morning no data for EUR
Afternoon, 1:30pm LND US Current Account, Building Permits;
Next Step:
• Due to a medium retracement Monday, I expect a test:
- Resistances 1st 1.1735, 2nd 1.1750, 3rd 1.1763;
- Support at 1st 1.1713, 2nd 1.1700, 3rd 1.1665-1660 zone;
- Close around 1.1725~ 1.1700 area.
• EURUSD has risen 2 pips against the previous day close; hit target set yesterday.
• ↑ 36.3 pips High & Low extreme move, vs. 46 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.5 -> 2.8 WEAK of late session
• EUR in early session MEDIUM 4.2 -> 4.2 MEDIUM of late session
Market Focus & Moods:
• Dollar held the gains, Equities bruised, yields dropped. Gold rise, oil down. A mixed day with less news driven. All this adds much higher stakes to the Fed and PBOC rate decisions this week and ensures that volatility will remain elevated.
• Tuesday, Morning no data for EUR
Afternoon, 1:30pm LND US Current Account, Building Permits;
Next Step:
• Due to a medium retracement Monday, I expect a test:
- Resistances 1st 1.1735, 2nd 1.1750, 3rd 1.1763;
- Support at 1st 1.1713, 2nd 1.1700, 3rd 1.1665-1660 zone;
- Close around 1.1725~ 1.1700 area.
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