6.24 EURUSD Daily Review & Outlook
Thur. 6.24 For the Past Trading Day:
• EURUSD has dropped 12 pips against previous day close
• ↓ 59 pips High & Low extreme move, vs. 67.3 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 3.5 -> 5.1 MEDIUM of late session
• EUR in early session MEDIUM 5.5 -> 3.5 WEAK of late session
Market Focus & Moods:
• The USD moved lower in early NY trading continuing the corrective moves to the downside for the 3rd day in a row. However, as rates started to move back higher, and some technical breaks failed, the greenback reversed back higher. The general comments from the Fed officials were lightly supportive of a higher dollar.
• Next day, in the early session, some medium impact European data to be release. Afternoon, US initial jobless claim and durable goods to be release at 13:30 pm London time.
Next Step:
• If EURUSD can hold 1.1910-20 area, I would keep the 1.2000 as next target.
• I expect a test towards 1.2000 and close around 1.2005 ~ 1.1980 area.
• EURUSD has dropped 12 pips against previous day close
• ↓ 59 pips High & Low extreme move, vs. 67.3 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 3.5 -> 5.1 MEDIUM of late session
• EUR in early session MEDIUM 5.5 -> 3.5 WEAK of late session
Market Focus & Moods:
• The USD moved lower in early NY trading continuing the corrective moves to the downside for the 3rd day in a row. However, as rates started to move back higher, and some technical breaks failed, the greenback reversed back higher. The general comments from the Fed officials were lightly supportive of a higher dollar.
• Next day, in the early session, some medium impact European data to be release. Afternoon, US initial jobless claim and durable goods to be release at 13:30 pm London time.
Next Step:
• If EURUSD can hold 1.1910-20 area, I would keep the 1.2000 as next target.
• I expect a test towards 1.2000 and close around 1.2005 ~ 1.1980 area.
Aviso legal
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