10.14 Thursday, for the past 24 hours:
• EURUSD has risen 67 pips against the previous day close; turned direction totally.
• ↑ 68.7 pips High & Low extreme move, vs. 51.2 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 2.9 -> 0.8 WEAK of late session
• EUR in early session MEDIUM 6.1 -> 5.2 MEDIUM of late session
Market Focus & Moods:
• US CPI keeps high, DXY rose up after CPI 25 pips in 30 minutes, the main show following totally turned the direction. US Bond Yields falling weaken DXY, while equities consolidated up, makes FX market risk preferring till the end of the day.
• Thursday, morning 8am ES CPI;
Afternoon, 1:30pm US PPI + Initial Jobless Claims ; 3-6pm US Fed Officials speech; 7pm US Monthly Budget Statement;
Next Step:
• Due to inflation domains market focus, I expect a test:
- Resistances 1st 1.1604 (medium), 2nd 1.1623, 3rd 1.1640 (strong);
- Support at 1st 1.1588, 2nd 1.1578, 3rd 1.1560;
- Close around 1.1604~ 1.1579 area.
• EURUSD has risen 67 pips against the previous day close; turned direction totally.
• ↑ 68.7 pips High & Low extreme move, vs. 51.2 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 2.9 -> 0.8 WEAK of late session
• EUR in early session MEDIUM 6.1 -> 5.2 MEDIUM of late session
Market Focus & Moods:
• US CPI keeps high, DXY rose up after CPI 25 pips in 30 minutes, the main show following totally turned the direction. US Bond Yields falling weaken DXY, while equities consolidated up, makes FX market risk preferring till the end of the day.
• Thursday, morning 8am ES CPI;
Afternoon, 1:30pm US PPI + Initial Jobless Claims ; 3-6pm US Fed Officials speech; 7pm US Monthly Budget Statement;
Next Step:
• Due to inflation domains market focus, I expect a test:
- Resistances 1st 1.1604 (medium), 2nd 1.1623, 3rd 1.1640 (strong);
- Support at 1st 1.1588, 2nd 1.1578, 3rd 1.1560;
- Close around 1.1604~ 1.1579 area.
