Main Scenario: Our expectation over the 1,3185 – 1,3234 zone is POSITIVE!
Target Expectation: 1,3290 – 1,3343 – 1,3433
Considerations Supporting The Scenario: The upward trend of the downtrend and the creation of a new uptrend.
Attention: The reaction drop for USDCAD can be monitored as the Green breaks down the red line in the RVI indicator. However, if the lower point of the upward trend we base continues to remain above the 1,3185 – 1,3234 zone, the respective retreats may be considered as a buying opportunity.
Alternative Scenario: With the 4-hour close under 1,3185 – 1,3234 level, our alternative expectation is NEGATIVE!
Alternative Target Expectation: 1,3145 – 1,3093 – 1,3012
Most Important News of the Week:
- Trade Balance from China,
- Data on applications for unemployment benefits from the United States
- Gross Domestic Product (GDP) from Japan,
- Consumer Price Index (CPI) from China,
- Trade Balance from Germany,
- Gross Domestic Product (GDP) and Manufacturing Production from the UK,
- Current Accounts and CBRT Expectations Survey from Turkey,
- Housing Starts, Employment Change and Unemployment Rate from Canada,
- Producer price index (PPI) and Baker Hughes borehole number data from the US