10.20 EURUSD Daily Review & Outlook

10.20 Wednesday, for the past 24 hours:
• EURUSD has risen 22 pips against the previous day close; hit target set yesterday, but stay below the target area.
• ↑ 60.8 pips High & Low extreme move, vs. 49.7 pips of 22 day Average Range.

Strength (0~10) Comparison:
• USD in early session WEAK 1.5 -> 5.8 MEDIUM of late session
• EUR in early session MEDIUM 5.0 -> 4.8 MEDIUM of late session

Market Focus & Moods:
• Generally it's a decent day for risk trades. Risk currencies gains started in the Pacific Asia session and equities solid gains. Yields curve moves steeper, with rates rising. Gold up and down, suggests under pressure, but still solid stand above $1760.
• Wednesday, morning 2:30am CN Loan Prime Rate; 7am DE PPI; 10am ECB CPI; 13:30pm CA CPI;
Afternoon, 12:00pm US MBA Mortgage Application; 3:30pm US EIA Crude Oil/Gas Stock Change;

Next Step:
• Due to light economic data, and Wednesday, I expect a test:
- Resistances 1st 1.1645, 2nd 1.1660, 3rd 1.1670;
- Support at 1st 1.1625-1620, 2nd 1.1610-1604, 3rd 1.1590-1585;
- Close around 1.1640~ 1.1615 area.