Main Scenario: Short term expectations as long as it remains below 1.2528 level NEGATIVE!
Target Expectation: 1,2440 – 1,2400 – 1,2360
Considerations Supporting The Scenario: The Envelopes indicator made a downward turn. Although the effort of the green line to cross the red line upward in the Relative Vigor Index (RVI) indicator will be considered an BUY signal, the signal does not yet represent a clear view.
Alternative Scenario: In case of 1.2528 level upwards, POSITIVE!
Alternative Target Expectation: 1,2550 – 1,2605 – 1,2660
Critical News of the Day:
- Speech by BoE MPC Member Haldane with the British Industrial Association (CBI) Industry Order Trend data from the UK.
- Current Home Sales and Richmond Manufacturing Index data from the US.