Main Scenario: As long as it stays above 1.22280 level, our main expectation is POSITIVE!
Target Expectation: 1,2400 – 1,2440 – 1,2500
Considerations Supporting The Scenario: Our positive expectation is supported by the rotation of the arms up in the Envelopes indicator and the continuation of the BUY signal in the Relative Vigor Index indicator.
Alternative Scenario: In case of 4-hour closing below 1.2280 level, the alternative expectation is NEGATIVE!
Alternative Target Expectation: 1,2280 – 1,2248 – 1,2191
MOST IMPORTANT NEWS OF THE WEEK:
- Average Income Index from The UK ,
- Housing starts and building permits from Canada,
- Job Opportunities and Personnel Change Rate and Weekly Crude Oil Stocks data from American Petroleum Institute from US
- Core Producer Price Index, Producer Price Index, Crude Oil Stocks and Gasoline Stocks data from US,
- Consumer Price Index from Germany,
- OPEC Monitoring Committee Meeting,
- Turkey’s Central Bank Interest Rate Decision,
- Decisions of the European Central Bank and Speech by ECB President Draghi,
- Core Consumer Price Index, Consumer Price Index, Unemployment Claims, Natural Gas Stocks and Federal Budget Balance data from US,
- Trade balance from the Euro zone and Eurogroup meeting,
- Core Retail Sales, Retail Sales and Michigan Consumer Sentiment data from US,
THE MOST IMPORTANT DAY AND WEEKS OF THE WEEK:
The most important day of the week for the Forex market is Thursday. President Draghi’s press conferences as well as meetings of the European Central Bank and the European Central Bank Turkey is important. In addition, we will reach the expectations for the inflation dynamics ahead of the US Federal Reserve meeting on September 18, together with the Consumer Price Index data from the US on the relevant day.
Let’s come to the most important assets of the week after the most important day of the week. Considering the important agenda items, the assets of the week are expected to be EURUSD, USDTRY and Ounce Gold.