Main Scenario: As long as it stays below the 108.16 – 108.47 zone, our main expectation is NEGATIVE!
Target Expectation: 107,78 – 107,45 – 106,88
Considerations Supporting The Scenario: The Green Line in the Relative Vigor Index indicator continues to SELL signaling after breaking the red line downward and USDJPY takes steps towards trend change by breaking the bullish trend line downward.
Alternative Scenario: Our alternative expectation is POSITIVE in the case of 4 – hour closing over the 108.16-108.47 zone!
Alternative Target Expectation: 108,92 – 109,31 – 109,75
MOST IMPORTANT NEWS OF THE WEEK:
- Producer Price Index from Germany,
- Retail and Core Retail Sales from Canada,
- Speech by Rosengren, a member of the US Federal Open Market Committee (FOMC) from US