Main Scenario: As long as it remains below 1.1238 – 1.1200 levels, short-term expectation is NEGATIVE!
Target Expectation: 1,1122 – 1,1090 – 1,1060
Considerations Supporting The Scenario: The top of the downtrend starting at 1.1411 and the Ichimoku Kinko Hyo indicator that supports this trend crosses the 1.1238 – 1.1200 level.
Alternative Scenario: 1.1238 – 1.1200 levels in case of upward crossing POSITIVE!
Alternative Target Expectation: 1,1285 – 1,1320 – 1,1347
Critical News of the Day: You can find below the most important economic news of the day for EURUSD parity prices.
- Germany Ifo Business Climate Index from Europe, ECB Monetary Policy Decisions and ECB President Mario Draghi’s press release.
- Core Resistant Orders from the US and Ongoing Unemployment Insurance Applications data.
The most critical development among these data will be the statements of ECB President Mario Draghi. We will monitor whether the interest rate cuts and possible signals for the bond purchase program will be included in the Chairman’s statements, especially for the rest of the year. The EURUSD may want to approach the 1.10 level in the event of such disclosures. Otherwise, outputs towards 1.1200 – 1.1238 levels can be monitored.