Market Forecast Ahead of US CB Consumer Confidence !

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.

 

MARKET DATA

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