On Wednesday, the following strong calendar news comes out:
- 08.30 London time. EUR, the index of business activity in the manufacturing sector (PMI) of Germany (Feb.), waiting for 60.6, the previous value was 61.1;
- 09.30 London time. GBP, the average wage level taking into account the premiums (Dec.), Waiting for 2.5%, the previous value was 2.5%;
- 09.30 London time. GBP, change in the number of applications for unemployment benefits (Jan.), waiting for 4.1K, the previous value was 8.6K;
- 14.15 London time. GBP, speech of the head of the Bank of England Karni;
- 14.15 London time. GBP, hearings on the inflation report;
- 15.00 London time. USD, sales in the secondary housing market (Jan), are waiting for 5.60M, the previous value was 5.57M;
- 19.00 London time. USD, the publication of the FOMC protocols.
EUR / USD pair
Trend analysis (Figure 1)
On Tuesday, the price moved down, practicing the week-long scenario. On Wednesday, it is possible to continue the lower movement, with the first target of 1.2174 (the retracement level of 38.2%). The complex analysis will more accurately tell where the price will go.
Fig. 1 (daily chart).
Indicator analysis on the daily schedule (Figure 2).
The system of indicators ADX (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.
The stochastic indicator (period 3/3/4) on the daily chart gives a downward trend (Fig. 2).
The system of indicators RSI (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).
On the last closed candle.
The calculation of the indicator RSI (5) on the properties gives down.
The calculation of the indicator RSI (8) by properties gives down.
The bottom line: The RSI indicator system gives a downward trend.
The calculation of the indicator CCI on the properties gives down.
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;
- Volumes - down;
- Candle analysis - down;
- Trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion.
On Wednesday, most likely, the market will continue its lower movement, with the first target at 1.2174 (the retracement level of 38.2%).
Pair GBP / USD
Trend analysis (Figure 1)
On Tuesday, the price moved in the side channel, in an anticipation of strong news that comes out on Wednesday. On Wednesday, the market may continue to move down, with the first target of 1.3842, a retracement level of 38.2%. The complex analysis will more accurately tell where the price will go.
Fig. 1 (daily chart).
Indicator analysis on the daily schedule (Figure 2).
The system of indicators ADX (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.
The stochastic indicator (period 3/3/4) on the daily chart gives a downward trend (Fig. 2).
The system of indicators RSI (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).
On the last closed candle.
The calculation of the indicator RSI (5) on the properties gives down.
The calculation of the indicator RSI (8) by properties gives down.
The bottom line: The RSI indicator system gives a downward trend.
The calculation of the indicator CCI on the properties gives down.
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;
- Volumes - down;
- Candle analysis - down;
- Trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion:
On Wednesday, on the GBP / USD currency pair, it is possible to continue the downward movement with the first target of 1.3842, a 38.2% retracement level, but much will depend on the news.
