10.11 EURUSD Daily Review & Outlook
10.11 Monday, for the past 24 hours:
• EURUSD has risen 13 pips against the previous day close;
• ↑ 47.7 pips High & Low extreme move, vs. 49.9 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 4.2 -> 4.3 MEDIUM of late session
• EUR in early session MEDIUM 6.0 -> 6.1 MEDIUM of late session
Market Focus & Moods:
• Non-farm payrolls miss the mark, selling US dollar and the initial reaction was 20-40 pips. The euro did manage to squeeze out a small gain but there isn't much in the way of technical support. CFTC positioning data showed USD longs are at the most extreme since June 2019.
• Monday, morning 9am Italy Industrial Production;
Afternoon, 2pm France 3/6/12-Month BTF Auction; North American Holiday
Next Step:
• Due to N.A. Holiday, I expect a test:
- Resistances 1st 1.1580, 2nd 1.1600;
- Support at 1st 1.1560, 2nd 1.1540;
- Close around 1.1540~ 1.1565 area.
• EURUSD has risen 13 pips against the previous day close;
• ↑ 47.7 pips High & Low extreme move, vs. 49.9 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 4.2 -> 4.3 MEDIUM of late session
• EUR in early session MEDIUM 6.0 -> 6.1 MEDIUM of late session
Market Focus & Moods:
• Non-farm payrolls miss the mark, selling US dollar and the initial reaction was 20-40 pips. The euro did manage to squeeze out a small gain but there isn't much in the way of technical support. CFTC positioning data showed USD longs are at the most extreme since June 2019.
• Monday, morning 9am Italy Industrial Production;
Afternoon, 2pm France 3/6/12-Month BTF Auction; North American Holiday
Next Step:
• Due to N.A. Holiday, I expect a test:
- Resistances 1st 1.1580, 2nd 1.1600;
- Support at 1st 1.1560, 2nd 1.1540;
- Close around 1.1540~ 1.1565 area.
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