7.6 EURUSD Daily Review & Outlook
Tue. 7.6, for the past 24 hours:
• EURUSD has dropped 1 pips against the previous day close;
• ↑ 30 pips High & Low extreme move, vs. 61.3 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 2.2 -> 4.2 MEDIUM of late session
• EUR in early session MEDIUM 4.8 -> 3.7 MEDIUM of late session
Market Focus & Moods:
• The US market was closed in observance of the 4th of July holiday. No stock or bond trading. Forex markets were open with price action limited. Crude oil trades to a new cycle high, OPEC+ news sends the pair higher. This might strengthen US dollars.
• Tuesday, morning (LON) 10 am EU Retail Sales, afternoon 3pm US ISM Services PMI.
Next Step:
• Keep an eye on oil price, it might push US dollars' demand.
• I have the same expectation as yesterday, upside 1st resistance 1.1885, 2nd resistance at 1.1925; downside support area 1.1830~1.1805.
• EURUSD has dropped 1 pips against the previous day close;
• ↑ 30 pips High & Low extreme move, vs. 61.3 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session WEAK 2.2 -> 4.2 MEDIUM of late session
• EUR in early session MEDIUM 4.8 -> 3.7 MEDIUM of late session
Market Focus & Moods:
• The US market was closed in observance of the 4th of July holiday. No stock or bond trading. Forex markets were open with price action limited. Crude oil trades to a new cycle high, OPEC+ news sends the pair higher. This might strengthen US dollars.
• Tuesday, morning (LON) 10 am EU Retail Sales, afternoon 3pm US ISM Services PMI.
Next Step:
• Keep an eye on oil price, it might push US dollars' demand.
• I have the same expectation as yesterday, upside 1st resistance 1.1885, 2nd resistance at 1.1925; downside support area 1.1830~1.1805.
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