Main Scenario: As long as it stays above 1.3225 level, our main expectation is POSITIVE!
Target Expectation: 1,3354 – 1,3434 – 1,3495
Considerations Supporting The Scenario: In the RVI indicator, the desire of the green line to cross the red line upwards and the BUY signal to be included in the agenda, as well as the expectation of the reaction to continue to the upper trend point in the trend, can be explained as supporting the positive scenario.
Alternative Scenario: In case of 4-hour closing below 1.3225 level, the alternative expectation is NEGATIVE!
Alternative Target Expectation: 1,3146 – 1,3090 – 1,3045
MOST IMPORTANT NEWS OF THE WEEK:
- Service Purchasing Managers Index (PMI) from the Eurozone,
- Service Purchasing Managers Index (PMI) from the UK,
- US Trade Balance, Beige Book, US Petroleum Institute Weekly Crude Oil Stocks data and FOMC Members Williams, Kashkari and Evans’Speeches from US
- Interest Rate Decision from Canada,
- Factory orders data from Germany,
- ADP Non-Farm Employment Change, Non-Farm Productivity, Unit Labor Costs, Service Purchasing Managers Index (PMI), Factory Orders, ISM Non-Manufacturing Purchasing Managers Index (PMI) and Energy Information Office Crude Oil Stocks data from US,
- Industrial Production from Germany,
- Gross Domestic Product from The Eurozone,
- Interest rate decision from Russia and Central Bank of Russia (CBR) press conference,
- Consumer Price Index From Brazil,
- Average Hourly Earnings, Average Hourly Income, Non-Farm Employment, Unemployment Rate, and US Federal Reserve (Fed) President Powell’s Speech from US,
- Employment Change, unemployment rate and Ivey PMI data from Canada.