Friday 8.27, for the past 24 hours:
• EURUSD has dropped 18 pips against the previous day close; missed target set yesterday, but tested target resistance as expected.
• ↓ 32 pips High & Low extreme move, vs. 49 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.5 -> 8.0 STRONG of late session
• EUR in early session STRONG 8.0 -> 5.9 MEDIUM of late session
Market Focus & Moods:
• US Dollars was sitting on the edge of fall till the end of early session today. And it has some gain back till the end of day, which make things more interesting. Both up or down are possible in my charts.
OK, let's check some basic fact for Powell tomorrow.
First, Job and supply chain have been fully discussed, and they have no surprise left for the market;
Second, stock indices, Gold, WTI Oil prices and Bond Yields are now on the positive track towards risky side.
Thirdly, inflation is confirmed not temporary, which means taper would be put on September's table again? I don't think so, Fed has no way to stop buying US Debt, so he has to be honest in the symposium.
• Friday, all eyes on 3pm LON Powell's speech on virtual Jackson Hole symposium.
Next Step:
• I expect a down and up close higher movement with high volatility.
• Support lowest 1.1730, resistance 1st 1.1765, 2nd 1.1780, 3rd 1.1805; highest possible 1.1828;
• EURUSD has dropped 18 pips against the previous day close; missed target set yesterday, but tested target resistance as expected.
• ↓ 32 pips High & Low extreme move, vs. 49 pips of 22 day Average Range.
Strength (0~10) Comparison:
• USD in early session MEDIUM 5.5 -> 8.0 STRONG of late session
• EUR in early session STRONG 8.0 -> 5.9 MEDIUM of late session
Market Focus & Moods:
• US Dollars was sitting on the edge of fall till the end of early session today. And it has some gain back till the end of day, which make things more interesting. Both up or down are possible in my charts.
OK, let's check some basic fact for Powell tomorrow.
First, Job and supply chain have been fully discussed, and they have no surprise left for the market;
Second, stock indices, Gold, WTI Oil prices and Bond Yields are now on the positive track towards risky side.
Thirdly, inflation is confirmed not temporary, which means taper would be put on September's table again? I don't think so, Fed has no way to stop buying US Debt, so he has to be honest in the symposium.
• Friday, all eyes on 3pm LON Powell's speech on virtual Jackson Hole symposium.
Next Step:
• I expect a down and up close higher movement with high volatility.
• Support lowest 1.1730, resistance 1st 1.1765, 2nd 1.1780, 3rd 1.1805; highest possible 1.1828;
