Main Scenario: Below 1.1200 and 1.1238 levels, our expectation is NEGATIVE!
Target Expectation: 1,1122 – 1,1090 – 1,1060
Considerations Supporting The Scenario: The downward trend and the Ichimoku Kinko Hyo indicator in the trend support the negative outlook below the 1.1200 and 1.1238 levels.
Alternative Scenario: With a 4-hour close above 1.1200 and 1.1238 level, our alternative expectation is POSITIVE!
Alternative Target Expectation: 1,1285 – 1,1320 – 1,1347
Critical News of the Week:
- Manufacturing Purchasing Managers Index data from China
- Central Bank of Turkey Inflation Report and Monetary Policy Meeting Summary Report from Turkey,
- Euro Area Consumer Price Index and Gross Domestic Product data for July,
- US ADP Non-Farm Employment Change and Chicago Purchasing Managers Index data, FOMC minutes and US Federal Reserve (Fed) Governor Powell’s Speech,
- From Euro Zone, Manufacturing Purchasing Managers Index data from France and Germany,
- Manufacturing Purchasing Managers Index data from the UK, Bank of England (BoE) meeting and BoE President Carney’s Inflation Report Presentation
- Applications for unemployment benefits and ISM Manufacturing Purchasing Managers Index data from US,
- Producer Price Index and retail sales data from the Euro zone,
- Data from Non-Farm Employment, Average Hourly Earnings, unemployment rate, Michigan Consumer Sentiment and factory orders from the United States,