On Friday, the following strong calendar news comes out:
8.00 London time. EUR, IFO business climate index (Apr). The expected value is 102.7 compared to the previous value is 102.1;
12.30 London time. USD, basic orders for durable goods (m / m) (Apr). The expected value is 0.5% compared to the previous value of -0.1%;
13.20 London time. USD, the speech of the head of the Fed, Mr. Powell.
Trend analysis (Figure 1).
On Thursday, the price worked out the upward movement, breaking off the support line of the rising channel 1.1677 (white line). On Friday, the price once again will most likely try to test the support line. A complex analysis will more accurately determine where the price will go next.
Fig. 2 (daily chart).
Complex analysis:
- Indicator analysis - up;
- Fibonacci levels - down;
- volumes - down;
- candle analysis - neutral;
- trend analysis - up;
- Bollinger lines - up;
- Weekly schedule - down.
General conclusion.
On Friday, the market will move down to the first goal of 1.1695 as the support line (white line). Then, it is possible to move upward.