Premium4 468x60 forex
Results 1 to 2 of 2

Weekly Outlook: 2016, August 21 - August 28

This is a discussion on Weekly Outlook: 2016, August 21 - August 28 within the Forex Trading forums, part of the Trading Forum category; The US dollar was on the back foot, suffering losses of various degrees across the board. The upcoming week features ...

          
   
  1. #1
    Senior Member 1Finance's Avatar
    Join Date
    Feb 2014
    Posts
    1,519
    Blog Entries
    340

    Weekly Outlook: 2016, August 21 - August 28

    Weekly Outlook: 2016, August 21 - August 28-eurusd-h8-metaquotes-software-corp-2.png


    The US dollar was on the back foot, suffering losses of various degrees across the board. The upcoming week features US durable goods orders, updated GDP reads from the UK and the US as well as the Jackson Hole Symposium. Here is a guide to the key events of the upcoming week.

    1. US New Home Sales: Tuesday, 14:00. The figure reached 5.57 million (annualized) in June. A similar figure of 5.55 million is projected.
    2. Crude Oil Inventories: Wednesday, 14:30.
    3. German Ifo Business Climate: Thursday, 8:00.
    4. Durable goods orders: Thursday, 12:30. Headline orders are predicted to rise by 3.5% after a slump of 3.9%. Core figures are also expected to bounce: a rise of 0.4% after a slide of the same scale beforehand.
    5. UK GDP: Friday, 8:30. The strong growth in the Spring is expected to be confirmed in the second read. The bigger speculation is about the third quarter, post-Brexit.
    6. US GDP: Friday, 12:30. The first release of Q2 2016 GDP was very disappointing. Note that the market impact is not as strong as the first release.
    7. Janet Yellen talks: Friday, in the European afternoon.


    the source
    Last edited by 1Finance; 08-20-2016 at 08:37 AM.
    Trading blogs || My blog

  2. #2
    Senior Member 1Finance's Avatar
    Join Date
    Feb 2014
    Posts
    1,519
    Blog Entries
    340

    GBP/USD Intra-Day Technical Analysis - ranging for direction

    H4 price is inside Ichimoku cloud for the bullish ranging within the following support/resistance levels:

    • 1.3184 resistance located to be above Ichimoku cloud in the bullish area of the chart, and
    • 1.3022 support level located near and above Senkou Span line in the beginning of the bearish trend to be started.

    Absolute Strength indicator is estimating the ranging market condition to be continuing.

    If H4 price breaks 1.2865 support level on close bar to below so the price will be reversed to the primary bearish market condition.
    If H4 price breaks 1.3184 resistance level on close bar from below to above so the bullish trend will be resumed.
    If not so the price will be on ranging within the levels.

    Weekly Outlook: 2016, August 21 - August 28-gbpusd-h4-metaquotes-software-corp.png


    • Recommendation for long: watch close H4 price to break 1.3184 for possible buy trade
    • Recommendation to go short: watch H4 price to break 1.2865 support level for possible sell trade
    • Trading Summary: ranging

    Resistance Support
    1.3184 1.3022
    1.3145 1.2865

    SUMMARY : ranging
    Trading blogs || My blog

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •