On Thursday, the following strong calendar news comes out:
- 7.55 London time. EUR, consumer price index (CPI) (y / y) (May), the expected value is 1.6% compared to the previous value of 1.3%;
- 14.00 London time. USD, the index of unfinished sales in the real estate market (m / m) (Apr), the expected value is 1.1%, compared to the previous value of 0.4%;
- 15.00 London time. USD, crude oil reserves, the expected value is 2.214M compared to the previous value of 5.778M.
Trend analysis (Figure 1).
On Wednesday, the price went up and safely reached the pullback level of 14.6% 1.664 (blue dotted line), as expected after reaching the support line. On Thursday, the upward movement will most likely continue. A complex analysis will more accurately determine where the price will go next.
Fig. 1 (daily chart). \
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - up;
- volumes - upwards;
- candlestick analysis - up;
- trend analysis - up;
- Bollinger lines - up;
- Weekly schedule - down.
General conclusion.
On Thursday, the market will move up towards the first target of 1.1757 with a recoil rate of 23.6% (blue dotted line).
