Main Scenario: As long as it stays under the 1477 – 1483 region, our main expectation is NEGATIVE!
In addition, our expectations can be strengthened with the 4-hour closing below 1448 level.
Target Expectation: 1455 – 1448 – 1440
Considerations Supporting The Scenario: The fact that the short-term negative trend continues despite recent rises and the fact that the Ichimoku Kinko Hyo indicator continues to remain under the cloud reinforces our negative expectation for the gold price.
Alternative Scenario: In case of 4-hour closing over 1477-1483 zone, the alternative expectation is POSITIVE!
Alternative Target Expectation: 1492 – 1500 – 1511
IMPORTANT NEWS of THE WEEK
Wednesday, November 27
- US Petroleum Institute Weekly Crude Oil Stocks,
- US Applications For Unemployment Benefits,
- US Durable and Core Durable Goods Orders,
- US Gross domestic product,
- US Core Personal Consumption Expenses Price List,
- US Energy Information Office Weekly Crude Oil Stocks,
- US Chicago Purchasing Managers Index
- US Suspended House Sales
Thursday, November 28
- Turkey’s Economic Confidence Index,
- Germany Consumer Price Index,
- Canadian Current Account,
Friday, November 29
- Japan Industrial Production,
- Turkey Trade Deficit,
- Euro Area Core Consumer Price Index,
- Canadian Gross Domestic Product,
THE MOST IMPORTANT DAYS AND ASSETS OF THE WEEK:
This week is more important for the Forex market than other days on Wednesday. The most remarkable economic calendar data of the week is undoubtedly the Gross Domestic Product and Core Personal Consumption Expenses Price List data coming from the USA.
- Considering the current news feed on Wednesday, EURUSD, GOLD and USDJPY may draw attention compared to other assets.
- Taking into account the current news feeds on Thursday, USDJPY may draw attention compared to other assets.
- Taking into account the current news flows on Friday, USDCAD may attract attention compared to other assets.