EUR/USD how can data, Powell speaks affect price direction?
How can EU GDP reports affect price range?
- If it happens to be upbeat (EUR POSITIVE) = A retest of weekly high 1.1800 could be, to be capped at 1.1820, to be followed back a retreat below 1.1800,
HOWEVER MY POINT OF VIEW THAT IT WOULD BE VERY LOW EXPECTED AHEAD OF POWELL SPEAKS AWAITING ANY NEWS ABOUT THE CALENDAR TAPER DATE (OFFICIAL ANNOUCNCEMENT OR DELAY TO BREAK ABOVE THE LAST WEEK HIGH OF 1.1805 -
- If it happens to be downbeat (EUR NEGATIVE) = to support the upper range consolidation of 1.1800-1.1750, breaking below 1.1750 would not be ruled out but low expected ahead of Powell speaks -
How can U.S. retail sales report affect price range?
- If it happens to be downbeat (EUR POSITIVE) = A retest of weekly high 1.1800 could be, to be capped at 1.1820, to be followed back a retreat below 1.1800,
HOWEVER MY POINT OF VIEW THAT IT WOULD BE VERY LOW EXPECTED AHEAD OF POWELL SPEAKS AWAITING ANY NEWS ABOUT THE CALENDAR TAPER DATE (OFFICIAL ANNOUCNCEMENT OR DELAY TO BREAK ABOVE THE LAST WEEK HIGH OF 1.1805 -
- If it happens to be upbeat (EUR NEGATIVE) = to support the upper range consolidation of 1.1800-1.1750, breaking below 1.1750 would not be ruled out but low expected ahead of Powell speaks -
CONCLUSION
- THE MAIN DRIVER ON THE WEEKLY FRAME TO BREAK ABOVE 1.1805 OR BREAK BELOW 1.1706 DEPENDS ONLY ON ANY NEWS ON TAPER ASSET PURCHASES UPDATES OF FED (POWELL SPEAKS) -
- ACCORDING TO THE LATEST U.S. INFLATION DATA WHICH SIGNED FOR CONTINUING RISE, MAKES POWELL HAS LOW CHANCES TO DELAY TAPER OR FAIL INVESTORS BY NOT PROPERLY ADJUSTING MONETARY POLICY, AND IF IT HAPPENS AS EXPECTED THERE WOULD BE A BIG BEARISH MOVE IN THE CURRENCY PAIR (THE HIGHER PROBABILITY) -
- IF POWELL SURPRISINGLY DELAYS TAPERING ASSET PURCHASES THEN PRICE WOULD BREAK ABOVE 1.1800 TO TARGET 1.1850, AND SHORT POSITIONS WOULD BE FAVORED TO BE CLOSED AND SHIFTED TO LONG -
- THIS OUTLOOK REMAINS ONLY TILL UPCOMING NEWS AND DATA THAT MAY CHANGE THE PRICE RANGE, SO I WILL UPDATE ACCORDINGLY -
- If it happens to be upbeat (EUR POSITIVE) = A retest of weekly high 1.1800 could be, to be capped at 1.1820, to be followed back a retreat below 1.1800,
HOWEVER MY POINT OF VIEW THAT IT WOULD BE VERY LOW EXPECTED AHEAD OF POWELL SPEAKS AWAITING ANY NEWS ABOUT THE CALENDAR TAPER DATE (OFFICIAL ANNOUCNCEMENT OR DELAY TO BREAK ABOVE THE LAST WEEK HIGH OF 1.1805 -
- If it happens to be downbeat (EUR NEGATIVE) = to support the upper range consolidation of 1.1800-1.1750, breaking below 1.1750 would not be ruled out but low expected ahead of Powell speaks -
How can U.S. retail sales report affect price range?
- If it happens to be downbeat (EUR POSITIVE) = A retest of weekly high 1.1800 could be, to be capped at 1.1820, to be followed back a retreat below 1.1800,
HOWEVER MY POINT OF VIEW THAT IT WOULD BE VERY LOW EXPECTED AHEAD OF POWELL SPEAKS AWAITING ANY NEWS ABOUT THE CALENDAR TAPER DATE (OFFICIAL ANNOUCNCEMENT OR DELAY TO BREAK ABOVE THE LAST WEEK HIGH OF 1.1805 -
- If it happens to be upbeat (EUR NEGATIVE) = to support the upper range consolidation of 1.1800-1.1750, breaking below 1.1750 would not be ruled out but low expected ahead of Powell speaks -
CONCLUSION
- THE MAIN DRIVER ON THE WEEKLY FRAME TO BREAK ABOVE 1.1805 OR BREAK BELOW 1.1706 DEPENDS ONLY ON ANY NEWS ON TAPER ASSET PURCHASES UPDATES OF FED (POWELL SPEAKS) -
- ACCORDING TO THE LATEST U.S. INFLATION DATA WHICH SIGNED FOR CONTINUING RISE, MAKES POWELL HAS LOW CHANCES TO DELAY TAPER OR FAIL INVESTORS BY NOT PROPERLY ADJUSTING MONETARY POLICY, AND IF IT HAPPENS AS EXPECTED THERE WOULD BE A BIG BEARISH MOVE IN THE CURRENCY PAIR (THE HIGHER PROBABILITY) -
- IF POWELL SURPRISINGLY DELAYS TAPERING ASSET PURCHASES THEN PRICE WOULD BREAK ABOVE 1.1800 TO TARGET 1.1850, AND SHORT POSITIONS WOULD BE FAVORED TO BE CLOSED AND SHIFTED TO LONG -
- THIS OUTLOOK REMAINS ONLY TILL UPCOMING NEWS AND DATA THAT MAY CHANGE THE PRICE RANGE, SO I WILL UPDATE ACCORDINGLY -