Main Scenario: Below 1.22190 level, our expectation is NEGATIVE!
Target Expectation: 1,2075 – 1,2030 – 1,1985
Considerations Supporting The Scenario: The downward trend outlook is supported by the Envelopes indicator. In addition, the Relative Vigor Index indicator is currently likely to give a negative signal with the expectation that the green line will cut the red line downwards. This signaling will also support our current expectation.
Alternative Scenario: With a 4-hour close above 1.2190, our alternative expectation is POSITIVE!
Alternative Target Expectation: 1,2248 – 1,2300 – 1,2360
Critical News of the Week:
- From Euro Zone, Manufacturing Purchasing Managers Index data from France and Germany,
- Manufacturing Purchasing Managers Index data from the UK, Bank of England (BoE) meeting and BoE President Carney’s Inflation Report Presentation
- Applications for unemployment benefits and ISM Manufacturing Purchasing Managers Index data from US
- Producer Price Index and retail sales data from the Euro zone,
- Data from Non-Farm Employment, Average Hourly Earnings, unemployment rate, Michigan Consumer Sentiment and factory orders from the United States