On Thursday, the following strong calendar news comes out:
- 7.30 London time. EUR, the index of business activity in the manufacturing sector (PMI) of Germany (Dec.); The expected value is 62.2% compared to the previous value of 62.5%.
- 8.30 London time. GBP, retail sales (m / m) (Nov); The expected value is 0.4%, compared to the previous value of 0.3%;
- 11.00 London time. GBP, the decision on the interest rate (Dec.); The expected value is 0.5%, compared to the previous value of 0.5%;
- 11.00 London time. GBP, minutes of the meeting of the Committee on Monetary Policy;
- 11.45 London time. EUR, the deposit rate; The expected value is -0.4%, compared to the previous value is -0.4%;
- 11.45 London time. EUR, the decision on the interest rate (Dec.); The expected value is 0.00%, compared to the previous value of 0.00%;
- 12.30 London time. USD, base retail sales index (m / m) (Nov); The expected value is 0.7%, compared to the previous value is 01%;
- 12.30 London time. USD, the volume of retail sales (m / m) (November); The expected value is 0.3%, compared to the previous value of 0.2%;
- 12.30 London time. EUR, ECB press conference.
EUR / USD pair
Trend analysis (Figure 1)
On Wednesday, the price moved up because of the news as it almost reach 50% of the recoil level (blue dotted line), which already happened today. In anticipation of the market for strong news until 11.45 London time, the price moved in the side channel. A complex analysis will more accurately determine where the price will go next.
Fig. 1 (daily chart).
Indicator analysis on the daily schedule (Figure 2).
The system of ADX indicators (Figure 2).
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved down. In this case, the trend should be determined based on the indicators of the oscillator type.
Stochastic indicator (period 3/3/4) on the daily chart gives a downward trend (Fig. 2).
The system of RSI indicators (Figure 2).
When working with the daily chart, the following periods are used in the RSI indicator system: 21 (brown), 8 (blue), 13 (yellow), 5 (red).
At the last day's closed candle.
The property calculation of the RSI indicator (5) gives a downward trend.
The property calculation of the RSI indicator (8) gives a downward trend.
The bottom line: the RSI indicator system gives a downward trend.
The calculation of the CCI indicator gives a downward trend.
The bottom line: the CCI indicator system gives a downward trend.
The result of the indicator analysis: the price will have a downward trend.
Fig. 2 (daily chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down (blue dotted line);
- volumes are neutral;
- candle analysis - down;
- trend analysis - up;
- Bollinger lines - up;
- Weekly schedule - up.
General conclusion.
Before the news (11.45 London time) on Thursday, it is possible for the pair to move down with the first goal of 1.1812 (upper fractal).
GBP / USD pair
On Wednesday, the price moved upwards because of the news as it reaches 50% of the recoil level (yellow dotted line). In anticipation of strong news by the market until 11.00 London time, the price may move in the side channel. A complex analysis will more accurately determine where the price will go next.
Fig. 1 (daily chart).
Indicator analysis on the daily schedule (Figure 2).
The system of ADX indicators (Figure 2).
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved down. In this case, the trend should be determined from the indicators of the oscillator type.
Stochastic indicator (period 3/3/4) on the daily chart gives an upward trend (Fig. 2).
The system of RSI indicators (Figure 2).
When working with the daily chart, the following periods are used in the RSI indicator system: 21 (brown), 8 (blue), 13 (yellow), 5 (red).
At the last day's closed candle.
The property calculation of the RSI indicator (5) gives an upward trend.
The property calculation of the RSI indicator (8) gives an upward trend.
Result: the system of RSI indicators gives an upward trend.
The property calculation of the CCI indicator gives an upward trend.
The bottom line: the CCI indicator system gives an upward trend.
The result of the indicator analysis: the price will have an upward trend.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - down;
- volumes - down;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- Weekly schedule - down.
General conclusion:
It is possible for the GBP / USD pair to move upward with the target of 1.3456, due to the scheduled news on Thursday at 11.00 London time.
