9.28 Tuesday, for the past 24 hours:
• EURUSD has dropped 23 pips against the previous day close; missed target set yesterday, stay below it.
• ↓ 42.4 pips High & Low extreme move, vs. 48 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.2 -> 4.2 MEDIUM of late session
• EUR in early session MEDIUM 4.8 -> 2.2 WEAK of late session
Market Focus & Moods:
• Fed officials spoke specifically to rate changes not being anytime soon, and 3 of retirements announcements. Durable goods came in better than expected at 1.8% versus 0.7%. However, ex transportation, the number came in weaker than expected 0.2% versus 0.5% estimate. Which EURUSD reacted 20 pips up and down in the afternoon.
• Tuesday, Morning, LDN 7:0-45am German/France Consumer Confidence, 9am Austria Manuf. PMI, ECB Forum
Afternoon, 1pm ECB Pres. Lagarde Speech, 1:30pm US Goods Trade Balance; 2pm US Home Price Index, 3pm US Consumer Confidence, Fed Chair Powell Testimony. It's a busy day.
Next Step:
• Due to important event and many data I expect a higher volatility:
- Resistances 1st 1.1710, 2nd 1.1725(strong), 3rd 1.1750;
- Support at 1st 1.1690, 2nd 1.1685, 3rd 1.1665(strong);
- Close around 1.1710~ 1.1735 area.
• EURUSD has dropped 23 pips against the previous day close; missed target set yesterday, stay below it.
• ↓ 42.4 pips High & Low extreme move, vs. 48 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.2 -> 4.2 MEDIUM of late session
• EUR in early session MEDIUM 4.8 -> 2.2 WEAK of late session
Market Focus & Moods:
• Fed officials spoke specifically to rate changes not being anytime soon, and 3 of retirements announcements. Durable goods came in better than expected at 1.8% versus 0.7%. However, ex transportation, the number came in weaker than expected 0.2% versus 0.5% estimate. Which EURUSD reacted 20 pips up and down in the afternoon.
• Tuesday, Morning, LDN 7:0-45am German/France Consumer Confidence, 9am Austria Manuf. PMI, ECB Forum
Afternoon, 1pm ECB Pres. Lagarde Speech, 1:30pm US Goods Trade Balance; 2pm US Home Price Index, 3pm US Consumer Confidence, Fed Chair Powell Testimony. It's a busy day.
Next Step:
• Due to important event and many data I expect a higher volatility:
- Resistances 1st 1.1710, 2nd 1.1725(strong), 3rd 1.1750;
- Support at 1st 1.1690, 2nd 1.1685, 3rd 1.1665(strong);
- Close around 1.1710~ 1.1735 area.
