On Thursday, the following strong calendar news comes out:
- 12.30 London time, basic orders for durable goods (m / m) (mar). The expected value is 0.5% compared to the previous value of 1.0%
Trend analysis (Figure 1).
On Wednesday, the price continued to move down. On Thursday, the market will move up in the side channel prior to the release of the reports but after the news (at 11.45 London time) the probability of a decline is more likely. A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - down;
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - down;
- Bollinger lines - down;
- Weekly schedule - down.
General conclusion:
On Thursday, the market will move up in the side channel prior to the release of the reports but after the news (at 11.45 London time) the probability of a decline is more likely. The first target will be 1.3888 on the lower fractal.
