Main Scenario: Below 1.22275 level, our expectation is NEGATIVE!
Target Expectation: 1,2191 – 1,2150 – 1,2120
Considerations Supporting The Scenario: Our negative expectation is supported by the return of the arms down in the Envelopes indicator and the return of the sell signal in the Relative Vigor Index indicator.
Alternative Scenario: POSITIVE with a 4-hour closing level above 1.2275!
Alternative Target Expectation: 1,2300 – 1,2360 – 1,2440
Most Important News of the Week:
- Gross Domestic Product from Germany ,
- Speech by Tenreyro, a member of the Monetary Policy Committee (MPC) from the UK,
- Housing Price Index, Conference Board (CB) Consumer Confidence, Richmond Manufacturing Index and US Petroleum Institute Weekly Crude Oil Stocks from US
- Economic Confidence Index from Turkey,
- Gas and Crude Oil Stocks data from US
- Consumer Price Index from Germany,
- Trade Deficit from Turkey,
- Current Account from Canada,
- Gross Domestic Product, Unemployment Claims and Suspended House Sales data from US
- Tokyo Core Consumer Price Index from Japan,
- Consumer Price Index from Euro Zone,
- August 30 Victory Day in Turkey,
- Gross Domestic Product from Canada,
- Core Personal Consumption Expenses Price List, Personal Income – Expense, Chicago Purchasing Managers Index and Michigan Consumer Sentiment data from the US