Main Scenario: As long as it stays above 1.2413, our main expectation is POSITIVE!
In addition, exceeding the 1.2538 level may further strengthen the existing main scenario.
Target Expectation: 1,2505 – 1,2538 – 1,2605
Considerations Supporting The Scenario: Our positive expectation is supported by the continuation of the upward view of the arms in the Envelopes indicator and the continuation of the BUY signal in the Relative Vigor Index indicator.
Alternative Scenario: In case of 4-hour closing below 1.2413, the alternative expectation is NEGATIVE!
Alternative Target Expectation: 1,2370 – 1,2306 – 1,2248
MOST IMPORTANT NEWS OF THE WEEK:
- 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,