Economic Data Impact on EUR-USD record 3

Third day EUR-USD fundamental analysis study

Asian Zone Market:
7:00 AM USD FOMC member hoenig speaks
7:01 AM GBP BRC Shop Price Index y/y Previous 2.0% Actual 1.8%
7:50am JPY Core Machinery Orders m/m Previous 5.4% Actual 4.0%
8:30am AUD Westpac Consumer Sentiment Previous -7.0% Actual -5.7%
9:30am AUD Home Loans m/m Previous -2.9% Actual -1.8%

Summary: Asian zone economic data relatively weak, forcing the market to move down to Fibonacci 23.6% in 5 minutes time frame

Euro Zone Market:
2:08 PM JPY Prelim Machine Tool Orders y/y Previous 220.9% Actual 191.8%
4:30 PM GBP Trade Balance Previous -7.3B Actual -7.3B

Summary: Only one euro zone economic data so there is no significant impact. The market just fluctuate within 0% to 100% Fibonacci retracement level.

After Euro Zone: Market start major correction ignoring all the US Zone economic data as this is the moment the market is waiting for. This correction also fueled by expectation of economic data for Asian zone and Euro Zone in the following day which are mostly will impact the market strongly.

So major correction begins here and we will see where will the first stop. Expectation is at 61.8% Fibonacci retracement point that could be more if the market is looking for further major upward movement. The first move is always unpredictable.