7.5 EURUSD Daily Review & Outlook
Mon. 7.5, for last Friday:
• EURUSD has risen 13 pips against the previous day close; missed target set in Thursday
• ↑ 67 pips High & Low extreme move, vs. 63.7 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session STRONG 8.1 -> 2.2 WEAK of late session
• EUR in early session MEDIUM 4.5 -> 6.5 MEDIUM of late session
Market Focus & Moods:
• Overall, although the nonfarm jobs was much higher-than-expected, the market was not scared of a faster Fed taper. US yields moved lower with the tenure yield down. Stock market continue rally. USD is the weakest currency of the day.
• Monday, US market close for independence day, while European session has light Markit PMI data to release. I expect a soft movement to start the week.
Next Step:
• Due to EUR's rebound is not strong enough to break resistance cluster. I have no bias for tomorrow, upside 1st resistance 1.1885, 2nd resistance at 1.1925; downside support area 1.1830~1.1805.
• EURUSD has risen 13 pips against the previous day close; missed target set in Thursday
• ↑ 67 pips High & Low extreme move, vs. 63.7 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session STRONG 8.1 -> 2.2 WEAK of late session
• EUR in early session MEDIUM 4.5 -> 6.5 MEDIUM of late session
Market Focus & Moods:
• Overall, although the nonfarm jobs was much higher-than-expected, the market was not scared of a faster Fed taper. US yields moved lower with the tenure yield down. Stock market continue rally. USD is the weakest currency of the day.
• Monday, US market close for independence day, while European session has light Markit PMI data to release. I expect a soft movement to start the week.
Next Step:
• Due to EUR's rebound is not strong enough to break resistance cluster. I have no bias for tomorrow, upside 1st resistance 1.1885, 2nd resistance at 1.1925; downside support area 1.1830~1.1805.
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