10.25 Monday, for the past 24 hours: • EURUSD has risen 23 pips against the previous day close; hit target set yesterday, though up and down 3 times. • ↑ 34.6 pips High & Low extreme move, vs. 46.5 pips of 22 day Average Range.
Strength (0~10) Comparison: • USD in early session WEAK 2.8 -> 5.3 MEDIUM of late session • EUR in early session WEAK 3.1 -> 6.1 MEDIUM of late session
Market Focus & Moods: • Risk aversion continues, esp. in late N.A. session, after Powell 'High inflation is likely to abate but will last well into next year', DXY rebounded 25 pips in a short time, but later faded away before the close of the day. • Monday, morning LDN 9am DE Ifo Business Climate; Afternoon, 1:30pm US Chicago Fed National Activity Idx; 3:30pm US Dallas Fed Manuf. Idx.
Next Step: • Due to a light economic calendar Monday, I expect a test: - Resistances 1st 1.1651-1656, 2nd 1.1670, 3rd 1.1685; - Support at 1st 1.1632, 2nd 1.1620, 3rd 1.1603; - Close around 1.1675~ 1.1650 area.
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