Main Scenario: Our main expectation is NEGATIVE as long as it is below 1,1083 – 1,1115 region
Target Expectation: 1,1000 – 1,0960 – 1,0920
Considerations Supporting The Scenario: While the top of the downward trend is in the region of 1.1083-1.1115, the related trend supports our negative expectation with the course below the exponential moving average of 233 periods.
Alternative Scenario: In case of 4 – hour closing over 1.1083-1.1115 zone, the alternative expectation is POSITIVE!
Alternative Target Expectation: 1,1155 – 1,1200 – 1,1238
MOST IMPORTANT NEWS OF THE WEEK:
- ZEW Economic Sentiment from Germany,
- Manufacturing Sales from Canada,
- Industrial Production, Capacity Utilization Rate and Weekly Crude Oil Stocks data of American Petroleum Institute from US,
- European Central Bank (ECB) member Coeure’s speech
- Consumer Price Index and Producer PriceIndex from UK,
- Consumer Price Index and Core Consumer Price Index from the Eurozone,
- Construction Permits, Housing Starts, Crude Oil Stocks, Gasoline Stocks data, FOMC minutes and Fed President Powell Press Conference from US,
- Central Bank monetary policy announcement and President Kuroda press conference from Japan,
- Central Bank Monetary Policy Announcement from UK,
- The Central Bank of Turkey Monetary Policy Meeting Summary,
- Applications for unemployment benefits, Philadelphia Fed Manufacturing Index and natural gas stocks data from US,
- Producer Price Index from Germany,
- Retail and Core Retail Sales from Canada,
- Speech by Rosengren, a member of the US Federal Open Market Committee (FOMC) from US,
THE MOST IMPORTANT DAY AND WEEKS OF THE WEEK:
The most important day for the Forex market this week is Wednesday. Federal Open Market Committee (FOMC) minutes and US Central Bank’s expectations for interest and economic projections will be announced, followed by Fed President Powell’s press conference to give tips to the markets …
Let’s come to the most important assets of the week after the most important day of the week. Considering the agenda item to be considered, the assets of the week are expected to be EURUSD, USDJPY and GOLD.