We have 4 employment reports:
- New Zealand
And 3 central banks meetings:
I especially concentrate in US Nonfarm payrolls and BOE meeting where I believe those data could trigger a significant move and push as well as in FX market
Payrolls is the most important data this week,we only have two payrolls ahead September FED meeting; so the data is considered as an leading indicator for FED decision: any strong number would inrease the opportunity of rate hike and vice versa.
As usual,I will post Payroll heatmap on my page and website : I need more incoming data to finish the heat map specificly ISM PMI + ADP report.
However, I saw the jobless claims fell to the lowest level since 1973, so I believe that payrolls would be a positive number and continue support the greenback.
Cable: We have a report + BOE Meeting + Press Conference on Thursday , so market call it's Super Thursday.
The move of Calbe this month will be decided on Thursday.
What does market expect ?.
- Market want to see BOE to be more hawkish : BOE is expected as the next ' lift-up" following FED., if they disappoint market: market will punish Cable unregretedly and send GBPUSD to 1.500 easily.
In my opinion, 60% BOE will shift their bias to HAWKISH.
AND IF PAYROLLS IS NEGATIVE, GBPUSD COULD SOAR 200-300 PIPS TO RETEST 1.5900
Only 40% BOE choose to stand toward NEUTRAL STANCE.
It's very difficult to pricing GBPUSD next week.
All depend on DATA.
HOWEVER, TO CHOOSE A SIDE AMONG : LONG - NEUTRAL - SHORT
I CHOOSE SHORT.
DESPITE MEMBERS IN MY TEAM CHOOSE LONG.
GBPUSD sideway in a pattern I draw on the chart.
Strong resistance at 1.5675
A is below the price .
The blockade is very tight.
It means GBPUSD MUST BREAK THE TO CHOOSE A TREND.
A BREAKOUT ABOVE THE RESISTANCE IS ABSOLUTELY UPTREND .
A BREAKOUT BELOW THE IS DEFINITELY DOWNTREND.
indicator shows the same result with the pric action.
If Cable chooses uptrend: 1.5900 is the target.
if Cabl chooses downtrend: 1.5335 is the target
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