EURUSD Technical Analysis 01.09 - 08.09 : Possible Correction Within Primary Bullish
Yes, agree - no reason - but it iis one week technical analysis. One week only.
if you will do it in your chinese section on the way as "one week = one thread" so you will get more clients for your servicers for example. So ... no one can do it? :)
1.3219 support level was broken so we are having just 1.3175. Correction is going on :
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1.3175 support
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24 pips movement on USD ISM Manufacturing PMI
newdigital, 2013.09.03 17:57
2013-09-03 14:00 GMT (or 16:00 MQ MT5 time| [USD - ISM Manufacturing PMI]- past data is 55.4
- forecast data is 54.0
- actual data is 55.7 according to the latest press release
If actual > forecast = good for currency (for USD in our case)
==========
U.S. Manufacturing Index Reaches A New Two-Year High In August
After reporting the biggest monthly jump in manufacturing activity in seventeen years in the previous month, the Institute for Supply Management released a report on Tuesday showing that manufacturing activity expanded at an even faster rate in August.
The ISM said its purchasing managers index edged up to 55.7 in August from 55.4 in July, with a reading above 50 indicating an increase in manufacturing activity.
The modest increase by the purchasing managers index came as a surprise to economists, who had expected the index to dip to a reading of 53.8.
With the unexpected increase, the index added to the 4.5-point gain posted in the previous month, reaching its highest level since hitting 55.8 in June of 2011.
Bradley J. Holcomb, chair of the ISM Manufacturing Business Survey Committee, said, "August's PMI reading, the highest of the year, indicates expansion in the manufacturing sector for the third consecutive month."
"Comments from the panel range from slow to improving business conditions depending upon the industry," he added.
The modest increase by headline index was partly due to a notable acceleration in the pace of new orders growth, with the new orders index jumping to 63.2 in August from 58.3 in July.
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21 pips up and 80 pips down
newdigital, 2013.09.05 14:43
2013-09-05 12:15 GMT (or 14:15 MQ MT5 time| [USD - ADP Non-Farm Employment Change]- past data is 198K
- forecast data is 180K
- actual data is 176K according to the latest press release
If actual > forecast = good for currency (for USD in our case)
==========
U.S. Private Sector Employment Rises Slightly Less Than Expected
Private sector employment in the U.S. rose by slightly less than expected in the month of August, according to a report released by payroll processor Automatic Data Processing, Inc. (ADP) on Thursday.
ADP said private sector employment increased by 176,000 jobs in August compared to a downwardly revised increase of 198,000 jobs in July.
Economists had been expecting the private sector to add about 180,000 jobs compared to the addition of 200,000 jobs originally reported for the previous month.
newdigital, 2013.09.05 14:47
2013-09-05 12:30 GMT (or 14:30 MQ MT5 time| [EUR - ECB press conference]- past data is n/a
- forecast data is n/a
- actual data is n/a according to the latest press release
==========
Press conference following the meeting of the Governing Council of the European Central Bank on 5 September 2013 at its premises in Frankfurt am Main, Germany, starting at 2:30 p.m. CET:
- Introductory statement by Mario Draghi, President of the ECB.
- Question and answer session. Registered journalists pose questions to Mario Draghi, President of the ECB, and to Vítor Constâncio, Vice-President of the ECB.
Watch official video here.
SUMMARY : bullish
TREND : correction
Intraday Chart
Yes, it is still bullish as a primary market condition (because the price is above Ichimoku cloud), but correction as a secondary trend. I am talking about D1 timeframe. You can see it by yourself :
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bullish as a primary
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Chinkou Span line of Ichimoku indicator is crossing historical price from above to below on open bar trying to break 1.3219 support level for posstble correction within primary bullish.
If the price will cross 1.3219 and especially 1.3175 support levels so we may have good correction. If the price will cross 1.3266 resistance level from below to above so the primary bullish trend will be continuing.
UPCOMING EVENTS (high/medium impacted news events which may be affected on EURUSD price movement for this coming week)
2013-09-02 07:15 GMT | [EUR - Spanish Manufacturing PMI]
2013-09-02 08:00 GMT | [EUR - Manufacturing PMI]
2013-09-03 07:00 GMT | [EUR - Spanish Unemployment Change]
2013-09-03 09:00 GMT | [EUR - Producer Price Index]
2013-09-03 14:00 GMT | [USD - ISM Manufacturing PMI]
2013-09-04 08:00 GMT | [EUR - Services PMI]
2013-09-04 09:00 GMT | [EUR - GDP]
2013-09-04 12:30 GMT | [USD - Trade Balance]
2013-09-05 10:00 GMT | [EUR - German Factory Orders]
2013-09-05 11:45 GMT | [EUR - ECB Interest Rate Decision]
2013-09-05 12:15 GMT | [USD - ADP Non-Farm Employment Change]
2013-09-05 12:30 GMT | [EUR - ECB press conference]
2013-09-05 14:00 GMT | [USD - ISM Non-Manufacturing PMI]
2013-09-06 06:00 GMT | [EUR - German Trade Balance]
2013-09-06 12:30 GMT | [USD - Non-Farm Employment Change (NFP)]
SUMMARY : bullish
TREND : correction
Intraday Chart