10.18 EURUSD Daily Review & Outlook

10.18 Monday, for the past 24 hours:
• EURUSD has risen 2 pips against the previous day close; Missed target set yesterday, stay below target area.
• ↑ 30.8 pips High & Low extreme move, vs. 50.8 pips of 22 day Average Range.

Strength (0~10) Comparison:
• USD in early session MEDIUM 4.2 -> 4.1 MEDIUM of late session
• EUR in early session MEDIUM 6.0 -> 3.9 MEDIUM of late session

Market Focus & Moods:
• The US retail sales report was a strong surprise but the market reaction was minimal. US Dollar wasn't stronger, while Yields rose all the way out the curve, esp. the front end. EUR/USD was chopping as it ranged between 1.1590 and 1.1610, tapping each edge three times and then finishing the day nearly flat.
• Monday, morning LDN 3am CN GDP, Ind. Production, Retail Sales;
Afternoon, 2:15pm US Manuf. / Industrial Production ; 3pm US NAHB Housing Market Index;

Next Step:
• Due to uninspiring Economic Calendar on Monday, I expect a test:
- Resistances 1st 1.1613, 2nd 1.1625, 3rd 1.1640;
- Support at 1st 1.1590-1585 (strong), 2nd 1.1570, 3rd 1.1562;
- Close around 1.1604~1.1629 area.