Main Scenario: General expectation below 1,2605 level NEGATIVE!
Target Expectation: 1,2500 – 1,2440 – 1,2400
Considerations Supporting the Scenario: The envelope indicator has taken a downward turn, and also the Green Line in the Relative Vigor Index (RVI) indicator, along with the red line breaking down, supports the negative expectation.
Alternative Scenario: By passing 1.2605 upward level, POSITIVE!
Alternative Target Expectation: 1,2660 – 1,2715 – 1,2765
Critical News of the Day:
- Average Earnings Index data from the UK and BoE President Carney’s speech.
- German ZEW Economic Sentiment data from the euro area.
- Retail Sales data from the United States and Fed Chairman Powell and FOMC member Evans ‘ speech.