10.27 EURUSD Daily Review & Outlook
10.27 Wednesday, for the past 24 hours:
• EURUSD has dropped 14 pips against the previous day close; hit target set yesterday.
• ↓ 41 pips High & Low extreme move, vs. 49 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 2.0 -> 6.2 MEDIUM of late session
• EUR in early session MEDIUM 5.7 -> 4.8 MEDIUM of late session
Market Focus & Moods:
• October 26th whole day end: Economic data was strong with all the US releases today. EURUSD poked below 1.1600 on talk of a dovish ECB but no real downside momentum.
• Wednesday, morning LDN 7am DE Consumer Confidence
Afternoon, 1:30pm US Durable Goods Orders / Goods Trade Balance;
Next Step:
• Due to last day before ECB rate decision, I expect a test:
- Resistances 1st 1.1603, 2nd 1.1617-1625 (Strong);
- Support at 1st 1.1585, 2nd 1.1572, 3rd 1.1548(Strong);
- Close around 1.1590 ~ 1.1565 area.
• EURUSD has dropped 14 pips against the previous day close; hit target set yesterday.
• ↓ 41 pips High & Low extreme move, vs. 49 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 2.0 -> 6.2 MEDIUM of late session
• EUR in early session MEDIUM 5.7 -> 4.8 MEDIUM of late session
Market Focus & Moods:
• October 26th whole day end: Economic data was strong with all the US releases today. EURUSD poked below 1.1600 on talk of a dovish ECB but no real downside momentum.
• Wednesday, morning LDN 7am DE Consumer Confidence
Afternoon, 1:30pm US Durable Goods Orders / Goods Trade Balance;
Next Step:
• Due to last day before ECB rate decision, I expect a test:
- Resistances 1st 1.1603, 2nd 1.1617-1625 (Strong);
- Support at 1st 1.1585, 2nd 1.1572, 3rd 1.1548(Strong);
- Close around 1.1590 ~ 1.1565 area.
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