This week in particular represents a busy week for AUD/NZD/JPY
Below is a play by play featuring all of the major news events of the coming week:
- EUR German Report
- USD – Bank Holiday
- Current Account
- German Sentiment
- Economic Sentiment.
- Average Earnings Forecast to be 3.5%
- Unemployment Rate – STAY FLAT
- Claimant Count Change – DECREASE
- housing market Index – Forecast to be Higher at 59
- PPI to decrease – become more positive at -0.2%
- CBI Industrial expectations to be -5 from -1 previously
- FOMC Meeting Minutes – Significant event
- EUR – Significant Day
- All morning French – German – Flash CPI
- CAD –
- BoC/RBA SPEAK – Major event with the following
- NFP- Change
- Wholesale changes
- Usd – Significant Day
- Manufacturing Orders all expected to increase! GBPUSD / USDJPY
- BCO/WTI coming into play with Naturl Gas and crude oil Storages
- Significant day for EUR/USD GBP/USD
- German GDP – TO STAY FLAT
- Core CPI – ALL EXPECTED TO STAY FLAT
- FOMC Members to speak
- BREAKDOWN BACK to 1.12615
- Likely to go throughout the week as evident by the double bottom to go
during the week to 1.14032
- Last week saw a lot of STOP RUNS to the downside -8 PIPS every time this occurs.
- DOUBLE TOP to 1.123552
- Watch to the upside of the 200
MA: this will see a breakout to 1.14032.
- This level is 1.136
- 110.373-110.555 – BREAK DOWN if it jumps below here
- A lot of runs to the downside.
- JPY SUNDAY WE WILL SEE A MOVE FROM MACHINERY DATA
- TRADE BALANCE ON TUESDAY before Manufacturing PMI’s
- Slow week
- Declining Wedge – lost momentum however accumulation and buyside picked up
- If we see a fall during Monday we will see it FALL BELOW 1.12314
- FA on Monday is Monthly report befoee Tuesday is Current account and Sentiment leading into the Wednesday-Thursday as a lot of CPI/PMI
- Monday – we will see it breakdown to 1.127
- Volume gap needs to be filled at 68.57
- Trading ABOVE THE 15MA – will beused as support
- Heavy Buy-Side will USE CHINESE TARRIF’S as Momentum to continue higher
- Triple bottom at 1304 –
- Volume Gap at 1316.547
- Instability from tarrifs – as soon as it is announced we will see a downside with upside to BCO/WTI
- 200MA 1.129596 we might see a pull back from this level
- Upper resistance level as well can be seen around 1.129283 – a break to the upside will see 1.30293 as result of US SHUTDOWN.
- Volume gaps need to be fulled at 1.129283-1.2940 likely to be filled during the week.
- Using the 55MA on the 4H as Support.
down – if we see the week open below 1.3246
- We will see momentum to the downside to 1.3170
- CCI & Accumulation indicates that we will see a reversal incoming as the 1.32426 level is a volume gap area – this would see a double bottom and a move to 1.33360
- Cad = RETAIL SALES on Friday
- GBP will be the leading indicator this week especially with Brexit uncertainty and USD Falling from the Government Shutdown.
- Tuesday-Thursday are fundamental days.
- 4H crossover to the upside could see a breakthrough of 142.762 – 143.567 during the week. Indicators are illustrating momentum contining also.
- 144.33 is the ultimate area to go
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