Main Scenario: As long as it is below 1,1092 – 1,1055 region, our main expectation is NEGATIVE!
In addition, a 4-hour close below 1.0995 level may support the negative outlook.
Target Expectation: 1,0995 – 1,0955 – 1,0925
Considerations Supporting The Scenario: Despite the recent increases, the course of 1.1092 – 1.0955 region continues. In addition, since the RVI indicator is not yet in the BUY zone, the SELL signal view is supported.
Alternative Scenario: In case of 4 – hour closing over 1.1092-1.1055 zone, the alternative expectation is POSITIVE!
Alternative Target Expectation: 1,1128 – 1,1155 – 1,1180
IMPORTANT NEWS of THE WEEK
Tuesday, November 26
- U.S. Conference Board (CB) Consumer Confidence and New Home Sales,
- Speech by ECB member Coeure and de Guindos,
- Fed Chairman Powell’s Speech,
- FOMC member Brainard Speech,
Wednesday, November 27
- US Petroleum Institute Weekly Crude Oil Stocks,
- Applications For Unemployment Benefits,
- Durable and Core Durable Goods Orders,
- Gross domestic product,
- Core Personal Consumption Expenses Price List,
- Energy Information Office Weekly Crude Oil Stocks,
Thursday, November 28
- Turkey’s Economic Confidence Index,
- Germany Consumer Price Index,
- Canadian Current Account,
Friday, November 29
- Japan Industrial Production,
- Turkey Trade Deficit,
- Euro Area Core Consumer Price Index,
- Canadian Gross Domestic Product,
THE MOST IMPORTANT DAYS AND ASSETS OF THE WEEK:
This week is more important for the Forex market than other days on Wednesday. The most remarkable economic calendar data of the week is undoubtedly the Gross Domestic Product and Core Personal Consumption Expenses Price List data coming from the USA.
- Taking into account the current news feeds on Tuesday, EURUSD may draw attention compared to other assets.
- Considering the current news feed on Wednesday, EURUSD, GOLD and USDJPY may draw attention compared to other assets.
- Taking into account the current news feeds on Thursday, EURUSD may draw attention compared to other assets.
- Taking into account the current news flows on Friday, USDJPY and USDCAD may attract attention compared to other assets.