Week Ahead August 21 – 25
EURUSD pair closed last week’s trading session lower on the lack of any high impact economic releases and on reduce liquidity due to holiday season. The US Dollar has benefit from equity market’s selloff and on Chinese worries of a potential crisis after China announce a slow down in this economy and the filing of bankruptcy from china’s biggest real estate firm.
As for this week traders and investors will mainly focus on the Jackson Hole symposium that will be highlighted by many central bank’s officials’ speeches. Given the low liquidity and the last week of summer holidays, we are expecting sharp and unpredictable moves on either direction as the central bankers will speak out.
周三，德国制造业采购经理人指数（PMI）为 38.7，低于预期；欧洲制造业采购经理人指数（PMI）为 42.8，高于预期；美国制造业采购经理人指数（PMI）为 49，高于预期。周四，美国耐用品订单预期为-4%，有所下降。周五，德国国内生产总值预期为-0.2%，美国密歇根消费者信心指数为 71.2，保持不变。
Technically the picture is neutral after last week’s close below (38.2%) at 1.0871 In this week’s trading session if pair continues on the downside and close below (50%) could change the picture to negative and open the road for more losses down to 1.0690 (61.8%) If resumes on the upside and break and close above 1.0917 (38.2%) could open the road for 1.1059 (23.6%) Our traders are long between 1.1000 and 1.0840 targeting profits at 1.1270 We are expecting more aggressive buyers to appear below 1.0800 targeting profits above 1.1200 and sellers at 1.1270 targeting profits at 1.1050
GBPUSD pair closed last week’s trading session marginally higher on the lack of any macroeconomic events and low liquidity, due to summer holiday. The deteriorated economic releases in the UK and the selloff in equity markets after Chinese economic growth slowdown, has kept the pair trade within a range of one hundred pips searching for direction.
As for this week traders and investors will mainly focus on the Jackson Hole symposium that will be highlighted by many central bank’s officials’ speeches. Given the low liquidity and the last week of summer holidays, we are expecting sharp and unpredictable moves on either direction as the central bankers will speak out.
In the economic calendar we have on Wednesday, UK Composite PMI pointing lower at 50.3 UK Manufacturing PMI lower at 45 and US Manufacturing PMI at 49. On Thursday, US durable goods orders expected at -4% On Friday, UK Gfk consumer confidence expected at -29 and US Michigan consumer sentiment at 71.2
Technically the pair is positive after last week’s close above (23.6%) at 1.2733 As for this week, if pair resumes on the upside, will test 1.3140 Alternative, if trades on the downside, will re-test 1.2650 last week’s lower level. Our traders keeping their long positions at 1.2730 and 1.2623 targeting profits above 1.3000 We are expecting short sellers at 1.3140 targeting profits at 1.2750 and more aggressive buyers below 1.2600
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https://tentrade.com/economic-calendar/
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