8.17 EURUSD Daily Review & Outlook
Tuesday 8.17, for the past 24 hours:
• EURUSD has dropped 19 pips against the previous day close; missed target set yesterday.
• ↓ 33.6 pips High & Low extreme move, vs. 49.1 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 6.1 -> 6.2 MEDIUM of late session
• EUR in early session MEDIUM 3.9 -> 4.2 MEDIUM of late session
Market Focus & Moods:
• Risk aversion moods sticky through the whole day, since global indices shrink, which JPY CHF USD stay steady. While EURUSD hold above 38.2% retracement low since last week.
• Tuesday, 10am LON European GDP, 1:30pm US Retail Sales, this is the key; 6:30pm Fed's Powell speech, this may bring some volatility.
Next Step:
• I expect a test 1st resistance 1.1792 and 2nd resistance 1.1807, downside support 1.1762 as day low support, 2nd support 1.1760-1.1755 area, if it break this area, drop down may accelerate. Open guess for close area since Powell speech in the late of the day.
• EURUSD has dropped 19 pips against the previous day close; missed target set yesterday.
• ↓ 33.6 pips High & Low extreme move, vs. 49.1 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 6.1 -> 6.2 MEDIUM of late session
• EUR in early session MEDIUM 3.9 -> 4.2 MEDIUM of late session
Market Focus & Moods:
• Risk aversion moods sticky through the whole day, since global indices shrink, which JPY CHF USD stay steady. While EURUSD hold above 38.2% retracement low since last week.
• Tuesday, 10am LON European GDP, 1:30pm US Retail Sales, this is the key; 6:30pm Fed's Powell speech, this may bring some volatility.
Next Step:
• I expect a test 1st resistance 1.1792 and 2nd resistance 1.1807, downside support 1.1762 as day low support, 2nd support 1.1760-1.1755 area, if it break this area, drop down may accelerate. Open guess for close area since Powell speech in the late of the day.
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