9.14 EURUSD Daily Review & Outlook
9.14 Tuesday, for the past 24 hours:
• EURUSD has dropped 2 pips against the previous day close; hit target set yesterday, but pull back and stand above target area.
• ↑ 47.1 pips High & Low extreme move, vs. 47.6 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session STRONG 8.1 -> 3.1 WEAK of late session
• EUR in early session WEAK 2.4 -> 7.1 STRONG of late session
Market Focus & Moods:
• USD little changed after up and down session. Especially EURUSD nearly back to the level of last Friday close. Oil rally and a new high of Sept. Inflation comes to highlight tomorrow.
• Tuesday, morning G20 Finance & Central Bank Dept. meeting, European Inflation Rate and some Bill Auctions; Afternoon, 1:30pm US Inflation Rate (Aug), all eyes on.
Next Step:
• Due to a modest pull back, I expect a test:
- Resistances 1st 1.1820, 2nd 1.1830 (strong), 3rd 1.1843(weak);
- Support at 1st 1.1802, 2nd 1.1792, 3rd 1.1780-1.1770 zone
- Close around 1.1770~ 1.1795 area.
• EURUSD has dropped 2 pips against the previous day close; hit target set yesterday, but pull back and stand above target area.
• ↑ 47.1 pips High & Low extreme move, vs. 47.6 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session STRONG 8.1 -> 3.1 WEAK of late session
• EUR in early session WEAK 2.4 -> 7.1 STRONG of late session
Market Focus & Moods:
• USD little changed after up and down session. Especially EURUSD nearly back to the level of last Friday close. Oil rally and a new high of Sept. Inflation comes to highlight tomorrow.
• Tuesday, morning G20 Finance & Central Bank Dept. meeting, European Inflation Rate and some Bill Auctions; Afternoon, 1:30pm US Inflation Rate (Aug), all eyes on.
Next Step:
• Due to a modest pull back, I expect a test:
- Resistances 1st 1.1820, 2nd 1.1830 (strong), 3rd 1.1843(weak);
- Support at 1st 1.1802, 2nd 1.1792, 3rd 1.1780-1.1770 zone
- Close around 1.1770~ 1.1795 area.
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