Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.
Usual Effect: A high reading or a better than expected number is seen as positive for the USD, while a low reading is negative.
Frequency: Released monthly, on the last Tuesday of the current month.
Last Read : 92.4
Expectations : 92.5
Volatility : High Volatility
It will be be published today at 14:00 GMT , you can follow this event live @ goo.gl/LOceky
Forecast : we have 5 scenarios for the USD :
- Scenario one : Between 92.2- 92.5 , will bring sideways move for the USD.
- Scenario two : Between 92.5-92.8 , will bring light bullish move for the USD.
- Scenario three :above 92.8 , will bring strong bullish move for the USD.
- Scenario four : Between 91.9 -92.2 , will bring light bearish move for the USD .
- Scenario five : Below 91.9 , will bring strong bearish move for the USD.
Market Impact :
EURUSD :
Trend direction : downward.
Support and resistance : 1.2390 , 1.2450 , 1.2500 , 1.2540 , 1.2570 , 1.2600 ,1.2630 , 1.2660 , 1.2715
Scenario 1 will bring sideways move or consolidation with possible to break lower .
Scenario 2 will break below the nearest support .
Scenario 3 could break below 2 support levels.
Scenario 4 will test the nearest resistance before the next fall .
Scenario 5 could break 2 levels higher before the next fall.
AUDUSD :
Trend direction : downward.
Support and resistance :0.8500 , 0.8560 , 0.8600 , 0.8640 , 0.8680 , 0.8760 , 0.8800 , 0.8840 , 0.8870
Scenario 1 will bring sideways move or consolidation with possible to break lower .
Scenario 2 will break below the nearest support .
Scenario 3 could break below 2 support levels.
Scenario 4 will test the nearest resistance before the next fall .
Scenario 5 could break 2 levels higher before the next fall.
NZDUSD:
Trend direction : downward.
Support and resistance :0.7500 , 0.7550 , 0.7600 , 0.7665 , 0.7800 , 0.7850 , 0.7920 , 0.7950 , 0.8000
Scenario 1 will bring sideways move or consolidation with possible to break lower .
Scenario 2 will break below the nearest support .
Scenario 3 could break below 2 support levels.
Scenario 4 will test the nearest resistance before the next fall .
Scenario 5 could break 2 levels higher before the next fall.
