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Weekly Outlook: 2016, September 11 - September 18

This is a discussion on Weekly Outlook: 2016, September 11 - September 18 within the Forex Trading forums, part of the Trading Forum category; The US dollar had a rough back-to-school week, but it made a comeback later on. Inflation data in the UK ...

      
   
  1. #1
    Senior Member 1Finance's Avatar
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    Weekly Outlook: 2016, September 11 - September 18

    Weekly Outlook: 2016, September 11 - September 18-eurusd-h1-metaquotes-software-corp.png


    The US dollar had a rough back-to-school week, but it made a comeback later on. Inflation data in the UK and the US, GDP data in New Zealand; rate decisions in the UK and employment data in the UK and Australia stand out. These are the top events on FX calendar.

    1. UK Inflation data: Tuesday, 8:30. Economists expect CPI to rise further to 0.7% this time.
    2. German ZEW Economic Sentiment: Tuesday, 9:00. Economic sentiment is expected to rise again to 2.8% in September.
    3. UK Employment data: Wednesday, 8:30. The number of unemployed is expected to increase by 1,700 in August.
    4. US Crude Oil Inventories: Wednesday, 14:30.
    5. NZ GDP: Wednesday, 22:45. GDP growth in the second quarter is estimated at 1.1%.
    6. Australian employment data: Thursday, 1:30. Analysts expect a job gain of 15,200 jobs in August, while the unemployment rate is expected to remain at 5.7%.
    7. UK rate decision: Thursday, 11:00. The bank is confident this move will reduce unemployment and improve the economic growth in the UK.
    8. US Retail Sales: Thursday, 12:30. Retail sales are expected to decline by 0.1% in August, while the core sales are expected to rise by 0.3%.
    9. US PPI: Thursday, 12:30.
    10. US Philly Fed Manufacturing Index: Thursday, 12:30. Philly Manufacturing activity index is expected to reach 1.1 in September.
    11. US Unemployment claims: Thursday, 12:30. The number of new claims is expected to reach 262,000 this week.
    12. US Inflation data: Friday, 12:30. CPI is expected to rise by 0.1% in August, while core CPI is estimated to gain 0.2%.
    13. US UoM Consumer Sentiment: Friday, 14:00. Consumer sentiment is expected to improve slightly to 91 in August.

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    Senior Member mql5's Avatar
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    USDCAD Technical Analysis 2016, 11.09 - 18.09: bear market rally to the bullish reversal

    Daily price is on secondary rally within the primary bullish market condition: price broke one of Senkou Span line B of Ichimoku indicator to above for the ranging rally to be located inside Ichimoku cloud.

    Weekly Outlook: 2016, September 11 - September 18-usdcad-h12-metaquotes-software-corp.png


    • The price is testing Senkou Span A line of Ichimoku indicator to above together with 1.3113 resistance level to be reversed to the bullish market condition.
    • Chinkou Span line of Ichimoku indicator is breaking the price to above for the good possible breakout.
    • Absolute Strength indicator is estimating the bullish reversal on ranging way in the near future.

    If D1 price breaks 1.2822 support level on close bar so the primary bearish trend will be resumed.
    If D1 price breaks 1.3113 resistance level on close bar from below to above so the reversal of the price movement from the ranging bearish to the primary bullish market condition will be started with 1.3200 level as a nearest daily target to re-enter.
    If not so the price will be on bearish ranging within the levels.

    Weekly Outlook: 2016, September 11 - September 18-usdcad-d1-metaquotes-software-corp.png


    • Recommendation for long: watch close D1 price to break 1.3113 for possible buy trade
    • Recommendation to go short: watch D1 price to break 1.2822 support level for possible sell trade
    • Trading Summary: bear market rally

    Resistance Support
    1.3113 1.2822
    1.3200 1.2763

    SUMMARY : bear market rally
    TREND : bearish
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