Main Scenario: As long as it stays above 1.2421, our main expectation is POSITIVE!
In addition, exceeding the 1.2546 level may further strengthen the existing main scenario.
Target Expectation: 1,2503 – 1,2546 – 1,2582
Considerations Supporting The Scenario: Our positive expectation is supported by the continuation of the upward view on the Envelopes indicator and the continuation of the BUY signal on the Relative Vigor Index indicator.
Alternative Scenario: In case of 4-hour closing below 1.2421, the alternative expectation is NEGATIVE!
Alternative Target Expectation: 1,2380 – 1,2306 – 1,2248
MOST IMPORTANT NEWS OF THE WEEK:
- New Home Sales and Crude Oil Stocks from US,
- Speech by FOMC Members Brainard, Evans and George,
- ECB President Mario Draghi’s speech from the eurozone,
- BoE President CarneySpeech from UK,
- Gross Domestic Product, Ongoing Unemployment Insurance Applications, Unemployment Benefit Applications, Suspended House Sales and FED Manufacturing Index data from US,
- Speech by FOMC members Kaplan, Kashkari, Barkin, Clarida and Bullard
- Tokyo Consumer Price Index from Japan,
- Economic Confidence Index From Turkey,
- Consumer confidence and industry confidence from the eurozone,
- Price Index of Durable Goods Orders and personal consumption expenses from the United States,
- Speech by FOMC members Harker and Quarles
Most important day of the week and assets:
The most important day of the week for the Forex market is Thursday. The messages to be given by the Heads of European and British Central Banks regarding the monetary policy, as well as the future results regarding the US Growth, Unemployment and Housing sector and developments to be taken into consideration during the day were recorded.
Let’s come to the most important assets of the week after the most important day of the week. Considering the agenda item to be considered, the assets of the week are expected to be EURUSD and GBPUSD.