Sunday 27th August 2017-08-09
End of week review chart
Monthly chart
Candlestick – still bearish
Next support = 106
EMA 7 & 10 haven’t crossed yet
MACD flat lining
Stoch idem
CCI idem
Momentum declining
>conclusion: need a jolt
Weekly chart
Candlestick – 2x dojis = indecision
Another weak support circa 107.9/108.1
EMA 7 is well below 30 and 50
Calendar
Jackson Hole this weekend
Tuesday 29th August 2017 10am = Jap Job
Wednesday 30th August 2017 22.00 = US ADP**
Thursday 14th September 2017 = US PPI and US CPI/inflation***
*Conclusion
Weekly = cannot enter, it is indecision (2 doji)
Plust, there is Jackson Hole and it is at support level (109)
The 109 must be broken strongly before a trade can be entered confidently
The next support is too close at 108
Once 108 is reached and already bounced back from reaching and CPI is at bay (either has passed or is 1 week away) a trade can be entered.
End of week review chart
Monthly chart
Candlestick – still bearish
Next support = 106
EMA 7 & 10 haven’t crossed yet
MACD flat lining
Stoch idem
CCI idem
Momentum declining
>conclusion: need a jolt
Weekly chart
Candlestick – 2x dojis = indecision
Another weak support circa 107.9/108.1
EMA 7 is well below 30 and 50
Calendar
Jackson Hole this weekend
Tuesday 29th August 2017 10am = Jap Job
Wednesday 30th August 2017 22.00 = US ADP**
Thursday 14th September 2017 = US PPI and US CPI/inflation***
*Conclusion
Weekly = cannot enter, it is indecision (2 doji)
Plust, there is Jackson Hole and it is at support level (109)
The 109 must be broken strongly before a trade can be entered confidently
The next support is too close at 108
Once 108 is reached and already bounced back from reaching and CPI is at bay (either has passed or is 1 week away) a trade can be entered.