Main Scenario: Levels 106.88-108.16 are the most critical levels within our main scenario. In the case of 4-hour closing below 106.88 level, NEGATIVE, and in the case of 4-hour closing above 108.16 level, our main expectation is POSITIVE!
Target Expectation: 108,70 – 109,31 or 106,31 – 105,60
Considerations Supporting The Scenario: Relative Vigor Index indicator has taken the appearance of decision stage because the green line continuously tests the red line. This is also supported in our main scenario.
Alternative Scenario: Alternating expectation with jammed movement between 106.88 – 108.16 levels NUETRAL!
Alternative Target Expectation: 106,88 – 107,45 – 108,116
MOST IMPORTANT NEWS OF THE WEEK:
- Core Producer Price Index, Producer Price Index, Crude Oil Stocks and Gasoline Stocks data from US,
- Consumer Price Index from Germany,
- OPEC Monitoring Committee Meeting,
- Turkey’s Central Bank Interest Rate Decision,
- Decisions of the European Central Bank and Speech by ECB President Draghi,
- Core Consumer Price Index, Consumer Price Index, Unemployment Claims, Natural Gas Stocks and Federal Budget Balance data from US,
- Trade balance from the Euro zone and Eurogroup meeting,
- Core Retail Sales, Retail Sales and Michigan Consumer Sentiment data from US,
THE MOST IMPORTANT DAY AND WEEKS OF THE WEEK:
The most important day of the week for the Forex market is Thursday. President Draghi’s press conferences as well as meetings of the European Central Bank and the European Central Bank Turkey is important. In addition, we will reach the expectations for the inflation dynamics ahead of the US Federal Reserve meeting on September 18, together with the Consumer Price Index data from the US on the relevant day. Let’s come to the most important assets of the week after the most important day of the week. Considering the important agenda items, the assets of the week are expected to be EURUSD, USDTRY and Ounce Gold.