Main Scenario: As long as it remains below 1.22280, our main expectation is NEGATIVE!
In addition, a break of 1.2155 level may further strengthen the current main scenario.
Target Expectation: 1,2191 – 1,2155 – 1,2100
Considerations Supporting The Scenario: Envelopes (3-period exponential) indicator continues to look downward view of the arms and Relative Vigor Index indicator does not give BUY signal yet, our negative expectation is supported
Alternative Scenario: If the 4-hour close is reached above 1.22280, the alternative expectation is POSITIVE!
Alternative Target Expectation: 1,2350 – 1,2395 – 1,2445
MOST IMPORTANT NEWS OF THE WEEK:
- Eurogroup meeting from Euro Zone
- Job Opportunities and Personnel Change Rate, Crude Oil Stocks, Gasoline Stocks, 10-Year Bond Auction and Federal Open Market Committee (FOMC) Meeting Minutes from US
- Speech by Fed Chairman Powell
- Trade Balance from Germany,
- Minutes of the European Central Bank Monetary Policy Meeting and Eurogroup meeting from the Euro Zone,
- GDP and Manufacturing Production from UK,
- Consumer price index, Applications For Unemployment Benefits and Natural Gas Stocks from US,
- Speech by FOMC Member Kashkari,
- Consumer Price Index from Germany,
- Speech by FOMC Member Mester, Bostic, Kashkari, Rosengren and Kaplan,
- Michigan Consumer Sentiment from the US,
- Meeting of the Ministers of Finance in the Eurozone and Speech by ECB member De Guindos,
- Employment Change and Unemployment Rate from Canada,
- OPEC Monitoring Committee Meeting,
- Current Accounts from Turkey
THE MOST IMPORTANT DAY OF THE WEEKS and ASSETS:
Thursday is the most important day of this week for the Forex market, and Thursday and Friday are the most important days. The most remarkable economic calendar data of the week is undoubtedly the US CPI data. Therefore, it is necessary to pay special attention to Thursday. Let’s come to the most important assets of the week after the most important days of the week…
- Considering the current news feeds on Thursday, EURUSD, GBPUSD and GOLD may attract attention compared to other assets.
- Taking into account the current news flows on Friday, EURUSD and USDCAD may attract attention compared to other assets.