7.30 EURUSD Daily Review & Outlook
Friday 7.30, for the past 24 hours:
• EURUSD has risen 42 pips against the previous day close; hit target set yesterday exactly.
• ↑ 52.2 pips High & Low extreme move, vs. 58.8 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 1.9 -> 1.8 WEAK of late session
• EUR in early session MEDIUM 6.5 -> 5.0 MEDIUM of late session
Market Focus & Moods:
• The post-FOMC dollar slump continued on Thursday. Soft economic data wasn't the main reason but it contributed with the dollar easing further after the numbers. Oil and Gold both rose well. Market keeps concerning on inflation.
• Friday, 7-10am LON German and European GDP, 1:30pm US PCE, 3pm Michigan Consumer Sentiment Index. And 4pm, is the last day of July. We may have another busy day as the end of July.
Next Step:
• I expect a test upside resistant 1.1915-1.1922 (strong resistant area), downside 1st support 1.1875(weak), 2nd support 1.1845 (strong) and close around 1.1935 ~ 1.1910 area.
• EURUSD has risen 42 pips against the previous day close; hit target set yesterday exactly.
• ↑ 52.2 pips High & Low extreme move, vs. 58.8 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 1.9 -> 1.8 WEAK of late session
• EUR in early session MEDIUM 6.5 -> 5.0 MEDIUM of late session
Market Focus & Moods:
• The post-FOMC dollar slump continued on Thursday. Soft economic data wasn't the main reason but it contributed with the dollar easing further after the numbers. Oil and Gold both rose well. Market keeps concerning on inflation.
• Friday, 7-10am LON German and European GDP, 1:30pm US PCE, 3pm Michigan Consumer Sentiment Index. And 4pm, is the last day of July. We may have another busy day as the end of July.
Next Step:
• I expect a test upside resistant 1.1915-1.1922 (strong resistant area), downside 1st support 1.1875(weak), 2nd support 1.1845 (strong) and close around 1.1935 ~ 1.1910 area.
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