10.29 EURUSD Daily Review & Outlook

10.29 Friday, for the past 24 hours:
• EURUSD has risen 80 pips against the previous day close;
• ↑ 110 pips High & Low extreme move, vs. 52.4 pips of 22 day Average Range.

Strength (0~10) Comparison:
• USD in early session MEDIUM 3.9 -> 2.2 WEAK of late session
• EUR in early session MEDIUM 4.8 -> 8.2 STRONG of late session

Market Focus & Moods:
• The ECB kept the statement little changed after their policy meeting today. The EURUSD moved higher on the back of the comments and overall the USD saw steady declines in the US morning session. Amazon and Apple had disappointing earnings after the close. The two bellwethers are a negative for the overall market going into trading tomorrow.
• Friday, morning LDN 6:30am FR GDP, 7:45 FR CPI, 8am ES GDP, 9am DE/IT GDP, 10 EU CPI, GDP%
Afternoon, 1:30pm US (Core) PCE Price Idx, Personal Income/Spending; 3pm US Michigan Consumer Sentiment Idx

Next Step:
• Due to ECB turned dovish tone to hawkish, I expect a test:
- Resistances 1st 1.1693, 2nd 1.1715-05 (Strong), 3rd 1.1726;
- Support at 1st 1.1670, 2nd 1.1654, 3rd 1.1640;
- Close around 1.1715~ 1.1690 area.