Main Scenario: As long as it stays above 1.22800 – 1.22900, our main expectation is POSITIVE!
In addition, an upward break of the 1.3000 level could further strengthen the current main scenario.
Target Expectation: 1,2955 – 1,3000 – 1,3050 – 1,3100
Considerations Supporting The Scenario: The fact that the lines on the Alligator indicator move below the current price in a supportive position and theoretically continue to BUY signal strengthens our positive expectation.
Alternative Scenario: The alternative expectation is NEGATIVE if it performs a 4 – hour closing under levels 1,2800-1,2900!
Alternative Target Expectation: 1,2745 – 1,2695 – 1,2640
MOST IMPORTANT NEWS OF THE WEEK:
Monday, October 21
- Brexit Vote in Parliament from UK,
- Central Bank Monthly Report and Producer Price Index from Germany,
- Federal election from Canada,
- Central Government Debt from Turkey,
Tuesday, October 22
- Turkey & Russia: Putin’s conversation with Erdogan,
- Core Retail Sales & Retail Sales and Bank of Canada (BoC) overview survey from Canada,
- Current home sales and American Petroleum Institute weekly crude oil stocks from US,
Wednesday, October 23
- Trade Balance From New Zealand,
- Consumer confidence in Turkey,
- Wholesale Sales From Canada,
- Housing Price Index, Crude Oil Stocks and Gasoline Stocks from US,
Thursday, October 24
- Leading Service and Leading Manufacturing PMI from France,
- Leading Service and LeadingManufacturing PMI from Germany,
- Leading Service and Leading Manufacturing PMI from Euro Zone,
- Interest Rate Decision from Turkey,
- Interest Rate Decision from the European Central Bank and Speech by ECB President Draghi,
- Core Durable Goods Orders, Durable Goods Orders, Unemployment Claims, Leading Service PMI, Leading Manufacturing PMI, New Home Sales and Natural Gas Stocks from US,
Friday, October 25
- Capacity Utilization Rate and Manufacturing Confidence from Turkey,
- Germany IFO Business Climate Index from Euro Zone,
- Michigan Consumer Sentiment and Baker Hughes Total Drilling Well from USA,
THE MOST IMPORTANT DAY OF THE WEEK and ASSETS:
The most important day of the week for the Forex market is Monday and Thursday. The most remarkable economic calendar data of the week is undoubtedly the Brexit Vote, Canadian elections and decisions of central banks such as the CBRT – ECB.
- Taking into account the current news flows on Monday, GBPUSD and USDCAD may draw attention compared to other assets.
- Considering the current news feeds on Tuesday, USDTRY and USDCAD may attract attention compared to other assets.
- Considering the current news feed on Wednesday, USDTRY and USDCAD may draw attention compared to other assets.
- Taking into account the current news feeds on Thursday, EURUSD and USDTRY may draw attention compared to other assets.
- Given the current news flows on Friday, GOLD and USDTRY may draw attention compared to other assets.