End of Week Review Sunday 8th October 2017

8 Okt 2017

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).

8 Okt 2017

Nota

Chart Pattern
Daily> 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.