Weekly Outlook: 2016, July 03 - July 10

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Markets continued to wobble in the post-Brexit week, with recoveries seen in many currencies. The first full week of July features the buildup to the US Non-Farm Payrolls, the Fed’s meeting minutes and key speeches among other events. These are the market movers on forex calendar.

1. Australian rate decision: Tuesday, 4:30. Economists still expect the RBA’s move will be postponed to a later date such as June 2017.
2. Mark Carney speaks: Tuesday, 9:30. BOE Governor Mark Carney is due to speak in London about the Financial Stability Report. Carney will probably address the Brexit issue and may provide clues as to the BoE’s next steps. Market volatility is expected.
3. ISM Non-Manufacturing PMI: Wednesday, 14:00. US non-manufacturing PMI is expected to climb to 53.5 this time.
4. US FOMC Meeting Minutes: Wednesday, 18:00. These are minutes from the Fed’s decision in June, in which it was mostly dovish. No rate hike are on the cards in the next year or so following the latest developments.
5. Haruhiko Kuroda speaks: Thursday, 0:30. BOJ Governor Haruhiko Kuroda will give a speech in Tokyo.
6. US ADP Non-Farm Employment Change: Thursday, 12:15. The ADP figures come before the U.S. Labor Department’s major non-farm payrolls report, which includes both public and private-sector employment. ADP non-farm payrolls is expected to reach 151,000 in June.
7. US Unemployment Claims: Thursday, 12:30. The number of new claims is expected to reach 272,000 this week.
8. US Crude Oil Inventories: Thursday, 15:00.
9. Canadian employment data: Friday, 12:30. Canadian labor market is expected to expand by 6,900 positions while the unemployment rate is estimated at 7.0%.
10. US Non-Farm Payrolls: Friday, 12:30. US monthly jobs report for June is forecast to show a 181,000 jobs gain, while the unemployment rate is estimated to rise to 4.8%.

the source

Daily price is on breaking Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart: the price is breaking this line at 0.7486 for the reversal of the price movement from the ranging bearish to the primary bullish market condition with 0.7643 as a nearest daily bullish target. Absolute Strength indicator is estimating the bullish trend to be started, and Chinkou Span line is indicating the possible bullish breakout in the near future.

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If D1 price breaks 0.7486 resistance level on close bar so the bullish reversal will be started.
If D1 price breaks 0.7304 support level on close bar so the bearish trend will be resumed.
If not so the price will be on bearish ranging within Ichimoku cloud.