End of Week Review
Sunday 8th October 2017
Monthly Chart
Candlestick: October hasn’t completed, but September = very bullish marubozu appeared.
EMA 7 crossed upwards
Parabolic SAR still shows an uptrend
Stochastic is edging towards 80 (ie overbought)
RSI idem
ADX = low = 20 & declining.
> ranging.
Bollinger band: it is nudging into upper band
Momentum is declining
Conclusion:
Trend is upwards but needs a pull towards resistance line
Weekly Chart
Candlestick: a doji
EMA 7 crossed upwards
Parabolic SAR still shows an uptrend
*Stochastic = 80 > overbought
ADX = below 20
> it is downtrend
Bollinger Band = in the upper band.
It has touched the line and it is flattening and squeezing.
Conclusion:
Aligning with monthly conclusion, there is a potential of slight correction.
Wait for economic calendar.
Economic Calendar
Tuesday 10th October 2017 10.50 current account
Wednesday 11th October 2017 10.50 30Y bond auction
Thursday 12th October 2017 AM: FOMC
Friday 13th October 2017: US Inflation
Sunday 15th October 2017: IMF, G30.
Monday 14th October 2017 AM: Yellen Speech.
Friday 19th October 2017 AM: US Job.
Thursday 19th October 2017 10.50 balance of trade minutes,
Friday 20th October 2017 AM: US GDP and Job.
Sunday 22th October 2017 Japan Election
Saturday 30th October 2017 10.30 Job & CPI
Tuesday 31st October 2017 2PM BOJ Rate
Conclusion:
Weeks ahead is full of economic data release and non economic data release(s).
Sunday 8th October 2017
Monthly Chart
Candlestick: October hasn’t completed, but September = very bullish marubozu appeared.
EMA 7 crossed upwards
Parabolic SAR still shows an uptrend
Stochastic is edging towards 80 (ie overbought)
RSI idem
ADX = low = 20 & declining.
> ranging.
Bollinger band: it is nudging into upper band
Momentum is declining
Conclusion:
Trend is upwards but needs a pull towards resistance line
Weekly Chart
Candlestick: a doji
EMA 7 crossed upwards
Parabolic SAR still shows an uptrend
*Stochastic = 80 > overbought
ADX = below 20
> it is downtrend
Bollinger Band = in the upper band.
It has touched the line and it is flattening and squeezing.
Conclusion:
Aligning with monthly conclusion, there is a potential of slight correction.
Wait for economic calendar.
Economic Calendar
Tuesday 10th October 2017 10.50 current account
Wednesday 11th October 2017 10.50 30Y bond auction
Thursday 12th October 2017 AM: FOMC
Friday 13th October 2017: US Inflation
Sunday 15th October 2017: IMF, G30.
Monday 14th October 2017 AM: Yellen Speech.
Friday 19th October 2017 AM: US Job.
Thursday 19th October 2017 10.50 balance of trade minutes,
Friday 20th October 2017 AM: US GDP and Job.
Sunday 22th October 2017 Japan Election
Saturday 30th October 2017 10.30 Job & CPI
Tuesday 31st October 2017 2PM BOJ Rate
Conclusion:
Weeks ahead is full of economic data release and non economic data release(s).
Note
Chart PatternDaily> Boxing between 114 – 108.
ATM = hovering at 112.7 s/r level. It seems not to have enough support to go up to 114.
The next supports = 113.57 & 114.16.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.