Main Scenario: As long as it stays below the 108.90 – 109.05 zone, our main expectation is NEGATIVE!
In addition, the 1-hour close below 108.65 may further strengthen our expectations.
Target Expectation: 108,65 – 108,46 – 108,28 – 108,08
Considerations Supporting The Scenario: The Ichimoku Kinko Hyo indicator remains below the cloud zone and supported by the 89-period exponential moving average, strengthening our negative expectations for the pair.
Alternative Scenario: In the case of 1-hour closing over 108.90 – 109.05 zone, our alternative expectation is POSITIVE!
Alternative Target Expectation: 109,28 – 109,49 – 109,90
IMPORTANT NEWS and ASSETS OF THE DAY
Thursday, November 14
- Gross Domestic Product in Germany and the Euro Area,
- Turkey Industrial Production,
- UK Retail Sales,
- Applications for US Unemployment Benefits, Core Producer Price Index and Producer Price Index, American Petroleum Institute weekly crude oil stocks, Energy Information Agency crude oil stocks,
- Presentation by Fed Chairman Powell on the Budget Committee,
- Speeches by FOMC members Quarles, Evans, Clarida, Williams and Bullard
Taking into account the current news flows today, USDJPY and EURUSD may draw attention compared to other assets.