Daily price is on secondary correction within the primary bullish market condition: the price is started with the breakdown on open daily bar for now with 1.1140 support level to be tested to below for the bearish reversal to be started.
Strength indicator is estimating the bearish trend to be started on the future, and
Trend Strength indicator is evaluating the future possible trend as a
secondary correction to be continuing.
SUMMARY : bullish
TREND : correction
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Sergey Golubev, 2016.09.17 10:38
Weekly Outlook: 2016, September 18 - September 25 (based on the article)
The US dollar had a positive week, resisting unconvincing data. Now comes the biggest test: the Fed decision. In addition, we have US Building Permits, rate decisions in Japan and in New Zealand, as well as other events. These are the main events for this week.
Sergey Golubev, 2016.09.19 18:30
EURUSD Price Action Outlook: Breaking Lower (based on the article)
Daily price is on testing 1.1149 support level to below for the reversal to the primary bearish market condition.
The price is located within 100 SMA/200 SMA for the breaking the 200-day
SMA together with descending triangle pattern to below for the bearish
condition. Alternative, if the price breaks 1.1283 resistance to above
so the bullish trend will be resumed.
SUMMARY : correction to the possible bearish reversal
Sergey Golubev, 2016.09.20 10:23
Technical Targets for EUR/USD by United Overseas Bank (based on the article)
is near and below 100 SMA/200 SMA for 1.1197 resistance level to be tested for the bullish reversal. The price is located within
the following support/resistance
price. United Overseas Bank is expecting for EUR/USD to be on bearish condition with the strong support level to be around 1.1100 for example:
"We turned bearish EUR yesterday but indicated that any decline is
expected to encounter solid support at 1.1100. In other words, the
downside potential appears to be limited. That said, the outlook for EUR
is deemed as bearish until there is a break above 1.1240."
Sergey Golubev, 2016.09.20 15:14
Intra-Day Fundamentals - EUR/USD, USD/CAD and AUD/USD: U.S. Residential Building Permits2016-09-20 12:30 GMT | [USD - Building Permits]
if actual > forecast (or previous one) = good for currency (for USD in our case)
[USD - Building Permits] = Annualized number of new residential building permits issued during the previous month.
From Business Insider article:
U.S. housing starts fell more than expected in August as building
activity declined broadly after two straight months of solid
increases, but a rebound in permits for single-family dwellings
suggested demand for housing remained intact.
Groundbreaking decreased 5.8 percent to a seasonally adjusted
annual pace of 1.14 million units, the Commerce Department said
on Tuesday. July's starts were unrevised at a 1.21 million-unit
Permits for future construction slipped 0.4 percent to a 1.14
million-unit rate last month as approvals for the volatile
multi-family homes segment tumbled 7.2 percent to a 402,000
unit-rate. Permits for single-family homes, the largest segment
of the market, surged 3.7 percent to a 737,000-unit pace.
Economists polled by Reuters had forecast housing starts falling
to a 1.19 million-unit pace last month and building permits
rising to a 1.17 million-unit rate.
USD/CAD M5: 20 pips price movement by U.S. Building Permits news events
AUD/USD M5: 13 pips price movement by U.S. Building Permits news events
Sergey Golubev, 2016.09.21 09:38
broke 1.1150 support level to below for the primary bearish trend to be continuing: the price is on ranging within
the following narrow support/resistance
price. United Overseas Bank is expecting for the bearish condition to be continuing with 1.1100 strong support level:
"There is not much to add as EUR spiked to a high of 1.1213 yesterday but
eased off quickly to end near the day’s low. The outlook is still
bearish but as highlighted in recent updates, any decline is expected to
encounter solid support at 1.1100."
Sergey Golubev, 2016.09.21 20:48
Intra-Day Fundamentals - EUR/USD, USD/CAD and AUD/USD: FOMC Statement and Federal Funds Rate2016-09-21 18:00 GMT | [USD - Federal Funds Rate]
[USD - Federal Funds Rate] = Interest rate at which depository institutions lend balances held at the
Federal Reserve to other depository institutions overnight.
"Fed fund futures, contracts that investors use to bet on interest rate
movements, imply that there is a 60 per cent chance of a hike at the
December meeting, up slightly from 59 per cent ahead of today’s
decision, reports Robin Wigglesworth in New York."
Sergey Golubev, 2016.09.22 14:51
Intra-Day Fundamentals - EUR/USD, USD/CAD and AUD/USD: U.S. Jobless Claims2016-09-22 12:30 GMT | [USD - Unemployment Claims]
if actual < forecast (or previous one) = good for currency (for USD in our case)
[USD - Unemployment Claims] = The number of individuals who filed for unemployment insurance for the first time during the past week.
EUR/USD M5: 7 pips range price movement by U.S. Jobless Claims news events
AUD/USD M5: 8 pips price movement by U.S. Jobless Claims news events
USD/CAD M5: 11 pips range price movement by U.S. Jobless Claims news events