End of Week Review Sunday 8th October 2017
Updated
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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