Main Scenario: As long as it remains below 1520, our main expectation is NEGATIVE!
In addition, the 4-hour close below the 1500 level could further strengthen our expectations.
Target Expectation: 1500 – 1492 – 1483
Considerations Supporting The Scenario: While the top of the downward trend is at 1520 level, the Relative Vigor Index indicator also gives the SELL signal. Therefore, Gold supports our negative expectations.
Alternative Scenario: In case of 4-hour closing over 1520, the alternative expectation is POSITIVE!
Alternative Target Expectation: 1529 – 1540 – 1550
MOST IMPORTANT NEWS OF THE WEEK:
- Trade Balance from Germany,
- Minutes of the European Central Bank Monetary Policy Meeting and Eurogroup meeting from the Euro Zone,
- GDP and Manufacturing Productionand Bank Of England Chief Carney Speech from UK,
- Consumer price index, Applications For Unemployment Benefits and Natural Gas Stocks from US,
- Speech by FOMC Member Kashkari,
- Consumer Price Index from Germany,
- Speech by FOMC Member Mester, Bostic, Kashkari, Rosengren and Kaplan,
- Michigan Consumer Sentiment from the US,
- Meeting of the Ministers of Finance in the Eurozone and Speech by ECB member De Guindos,
- Employment Change and Unemployment Rate from Canada,
- OPEC Monitoring Committee Meeting,
- Current Accounts from Turkey
THE MOST IMPORTANT DAY OF THE WEEKS and ASSETS:
Thursday is the most important day of this week for the Forex market, and Thursday and Friday are the most important days. The most remarkable economic calendar data of the week is undoubtedly the US CPI data. Therefore, it is necessary to pay special attention to Thursday. Let’s come to the most important assets of the week after the most important days of the week…
- Considering the current news feeds on Thursday, EURUSD, GBPUSD and GOLD may attract attention compared to other assets.
- Taking into account the current news flows on Friday, EURUSD and USDCAD may attract attention compared to other assets.