Main Scenario: Above 1,2500 level POSITIVE!
Target Expectation: 1,2605 – 1,2660 – 1,2715
Considerations Supporting the Scenario: In the envelope indicator, the lower point of the band passes through the level of 1,2500 and the parity continues its positive outlook over the respective region. In addition, the Relative Vigor Index (RVI) indicator terminated the SELL signal and gave a BUY signal.
Alternative Scenario: With the downward break of 1.2500 level, NEGATIVE!
Alternative Target Expectation: 1,2440 – 1,2400 – 1,2360
Critical News of the Day: FOMC Member Williams Speech with US Empire State Manufacturing Index data.