On Friday, the following strong calendar news comes out:
- 8.30 London time. GBP, GDP (q / q) (3 sq.), The expected value is 0.4% compared to the previous value is 0.4%;
- 8.30 London time. GBP, GDP (y / y) (3 sq.), The expected value is 1.5% compared to the previous value of 1.5%;
- 12.30 London time. USD, basic orders for durable goods (m / m) (Nov /), The expected value is 0.5% compared to the previous value is 0.9%;
- 14.00 London time. USD, sales of new housing (November), The expected value is 654K compared to the previous value of 685K.
EUR / USD pair
Trend analysis (Figure 1)
On Thursday, the price moved in the side channel, after it tested the minimum resistance line at 1.1902 the day before. On Friday, the market may move down with the first target of 1.1810 (a 50.0% retracement level). A complex analysis will more accurately determine where the price will go next.
Fig. 1 (daily chart).
Indicator analysis on the daily schedule (Figure 2).
The system of ADX indicators (Figure 2).
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved up. In this case, the trend should be determined by trend type indicators.
MACD Indicator (period 5/8/13).
The linear part of the MACD indicator.
Fast line (signal) - a line of white color.
The slow line (main line) is the blue line.
The result for the linear part of the MACD indicator is an upward trend.
Histogram of the MACD indicator.
Histogram - columns of black color.
The result of the histogram of the MACD indicator is an upward trend.
Overall: the MACD indicator on the daily chart gives an upward trend.
Middle lines of the EMA.
The daily chart uses the following midlines.
1 middle EMA line - color white (first shadow).
5 the middle line of the EMA - the color is red (the first shadow).
8 middle EMA line - the color is blue (the first shadow and trend).
13 the middle line of the EMA - the color is yellow (trend).
21 middle EMA line - the color is brown (trend).
At the last run 8, the middle EMA line (blue) is moving upwards, which is above the 13th EMA midline (yellow) - the signal of the top trend.
21, the middle EMA line is moving upwards which is below the 13th EMA midline, amplifying the signals of the upper channel.
The bottom line: the EMA middle line system on the daily chart gives an upward trend.
The probability distribution of the indicators is as follows:
the average EMA lines are 24% up;
indicator of the MACD (linear part) - 38% up;
the MACD indicator (histogram) is 38% higher.
The result of the indicator analysis: the price will have an upward trend.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - down;
- volumes - down;
- candle analysis - down;
- trend analysis - down;
- Bollinger lines - up;
- Weekly schedule - up.
General conclusion.
On Friday, it is possible for the EUR/USD pair to move down with the first target of 1.1810 (a 50.0% retracement level).
GBP / USD pair
On Thursday, the price continued to move in the side channel. On Friday, the market is likely to move up, with the first target of 1.3419 (the upper fractal). A complex analysis will more accurately determine where the price will go next.
Fig. 1 (daily chart).
Indicator analysis on the daily schedule (Figure 2).
The system of ADX indicators (Figure 2).
On the last run, the fast line (indicator 5 - white) and the slow line (indicator period 8 - blue) moved up. In this case, the trend should be determined by trend type indicators.
MACD Indicator (period 5/8/13).
The linear part of the MACD indicator.
Fast line (signal) - a line of white color.
The slow line (main line) is the blue line.
The result for the linear part of the MACD indicator is a downward trend.
Histogram of the MACD indicator.
Histogram - columns of black color.
The result of the histogram of the MACD indicator is a downward trend.
The grand total: the MACD indicator on the daily chart gives a downward trend.
Middle lines of the EMA.
The daily chart uses the following midlines.
1 middle EMA line - color white (first shadow).
5 the middle line of the EMA - the color is red (the first shadow).
8 middle EMA line - the color is blue (the first shadow and trend).
13 the middle line of the EMA - the color is yellow (trend).
21 middle EMA line - the color is brown (trend).
At the last run 8, the middle EMA line (blue) moved down which is above the 13th EMA midline (yellow) - the signal of the top trend.
21, the middle EMA line moved upwards which is below the 13th EMA midline, amplifying the signals of the top trend.
The bottom line: the EMA middle line system on the daily chart gives an upward trend.
The probability distribution of the indicators is as follows:
the average EMA lines are 24% up;
the MACD indicator (linear part) - 38% down;
the MACD indicator (histogram) is 38% down.
The result of the indicator analysis: the price will have a downward trend.
Fig. 2 (daily chart).
Complex analysis:
- indicator analysis - down;
- Fibonacci levels - down;
- volumes - down;
- candle analysis - neutral;
- trend analysis - up;
- Bollinger lines - up;
- Weekly schedule - up.
General conclusion:
On Friday, it is possible for the GBP/USD pair to move upward with the first target of 1.3419 (upper fractal).