9.29 Wednesday, for the past 24 hours: • EURUSD has dropped 13 pips against the previous day close; missed target set yesterday. • ↓ 35.1 pips High & Low extreme move, vs. 46.5 pips of 22 day Average Range.
Strength (0~10) Comparison: • USD in early session STRONG 9.4 -> 8.0 STRONG of late session • EUR in early session STRONG 6.9 -> 7.2 STRONG of late session
Market Focus & Moods: • Cable tumbles, the mood wasn't great when the US rolled in but it deteriorated significantly later. Treasury yields continued the march higher. The euro did a better job of hanging with the US dollar. • Wednesday, LDN 10am European Consumer Confidence; Afternoon, 2pm US Fed Harker Speech; 3pm US Pending Home Sales; 3:45pm Fed Chair Powell Speech.
Next Step: • Due to I missed the target yesterday I expect a test again: - Resistances 1st 1.1700, 2nd 1.1725, 3rd 1.1750; - Support at 1st 1.1675, 2nd 1.1665, 3rd 1.1653; - Close around 1.1720~ 1.1695 area.
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