10.5 Tuesday, for the past 24 hours:
• EURUSD has risen 25.3 pips against the previous day close;
• ↑ 52.5 pips High & Low extreme move, vs. 49.4 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 2.5 -> 2.8 WEAK of late session
• EUR in early session MEDIUM 5.4 -> 2.6 WEAK of late session
Market Focus & Moods:
• The USD was the weakest of the major currencies today and continued to erase some of the recent gains seen in the greenback. No clear catalysts push USD low, except US government continued haggling in Washington over the debt ceiling. CHF is the safety heaven of the day as the strongest one.
• Tuesday, morning LDN 8:15-9am European Markit Services PMI;
Afternoon, 1:30pm US Balance of Trade; 3pm US ISM Non-Manufacturing PMI; 4pm ECB President Lagarde Speech;
Next Step:
• Due to busy day Tuesday, I expect a test:
- Resistances 1st 1.1630-35, 2nd 1.1655, 3rd 1.1670;
- Support at 1st 1.1610-03, 2nd 1.1590, 3rd 1.1565;
- Close around 1.1605~ 1.1580 area.
• EURUSD has risen 25.3 pips against the previous day close;
• ↑ 52.5 pips High & Low extreme move, vs. 49.4 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 2.5 -> 2.8 WEAK of late session
• EUR in early session MEDIUM 5.4 -> 2.6 WEAK of late session
Market Focus & Moods:
• The USD was the weakest of the major currencies today and continued to erase some of the recent gains seen in the greenback. No clear catalysts push USD low, except US government continued haggling in Washington over the debt ceiling. CHF is the safety heaven of the day as the strongest one.
• Tuesday, morning LDN 8:15-9am European Markit Services PMI;
Afternoon, 1:30pm US Balance of Trade; 3pm US ISM Non-Manufacturing PMI; 4pm ECB President Lagarde Speech;
Next Step:
• Due to busy day Tuesday, I expect a test:
- Resistances 1st 1.1630-35, 2nd 1.1655, 3rd 1.1670;
- Support at 1st 1.1610-03, 2nd 1.1590, 3rd 1.1565;
- Close around 1.1605~ 1.1580 area.
