Main Scenario: As long as it stays below 1,1083 – 1,1115 region, our main expectation is NEGATIVE!
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 oer 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:
- Consumer Price Index from Germany,
- OPEC Monitoring Committee Meeting,
- Turkey’s Central Bank Interest Rate Decision,
- Decisions of the European Central Bank and Speech by ECB President Draghi,
- Core Consumer Price Index, Consumer Price Index, Unemployment Claims, Natural Gas Stocks and Federal Budget Balance data from US,
- Trade balance from the Euro zone and Eurogroup meeting,
- Core Retail Sales, Retail Sales and Michigan Consumer Sentiment data from US,
THE MOST IMPORTANT DAY AND WEEKS OF THE WEEK:
The most important day of the week for the Forex market is Thursday. President Draghi’s press conferences as well as meetings of the European Central Bank and the European Central Bank Turkey is important. In addition, we will reach the expectations for the inflation dynamics ahead of the US Federal Reserve meeting on September 18, together with the Consumer Price Index data from the US on the relevant day. Let’s come to the most important assets of the week after the most important day of the week. Considering the important agenda items, the assets of the week are expected to be EURUSD, USDTRY and Ounce Gold.