Press review - page 668

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Dow Jones Industrial Average - bearish breakdown; 26,682 resistance is the key for the possible bullish reversal (based on the article)

Dow Jones Industrial Average AscTrend Market Condition chart by Metatrader 5

  • "The stock market plunged on Wednesday, with the Dow Jones Industrial Average sliding more than 1,400 points—officially entering a bear market for the first time since the 2008 financial crisis—after the World Health Organization declared the coronavirus outbreak a global pandemic."
  • "The major indexes all plummeted during Wednesday’s session: The Dow ended the day down almost 6%, while the S&P 500 fell 4.9% and the Nasdaq by 4.7%. Losses accelerated on Wednesday after the WHO officially declared the coronavirus a global pandemic, ending the longest bull market in U.S. history and sending the Dow into a bear market for the first time since the 2008 financial crisis."

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Chart was made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

Bear Market: Dow Drops Over 1,400 Points, Ending Longest Bull Market In U.S. History
Bear Market: Dow Drops Over 1,400 Points, Ending Longest Bull Market In U.S. History
  • 2020.03.11
  • Sergei Klebnikov
  • www.forbes.com
Topline: The stock market plunged on Wednesday, with the Dow Jones Industrial Average sliding more than 1,400 points—officially entering a bear market for the first time since the 2008 financial crisis—after the World Health Organization declared the coronavirus outbreak a global pandemic. The major indexes all plummeted during Wednesday’s...
 

EUR/USD Intra-Day Fundamentals: ECB Interest Rates, Monetary Policy Statement and range price movement 

2020-03-12 12:45 GMT | [EUR - Main Refinancing Rate]

  • past data is 0.00%
  • forecast data is 0.00%
  • actual data is 0.00% according to the latest press release 
if actual > forecast (or previous value) = good for currency (for EUR in our case)

[EUR - Main Refinancing Rate] = Interest rate on the main refinancing operations that provide the bulk of liquidity to the banking system.

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From official report :

  • "The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.50% respectively. The Governing Council expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, 2% within its projection horizon, and such convergence has been consistently reflected in underlying inflation dynamics."

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EUR/USD: range price movement by ECB  Interest Rates news event

EUR/USD: range price movement by ECB Interest Rates news event

EUR/USD: range price movement by ECB Interest Rates news event

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Chart was made on MT5 with BrainTrading system (MT5) from this thread (free to download) as well as the following indicators from CodeBase: 

All about BrainTrading system for MT5:

Economic calendar - real-time news and reports, as well as the schedule of forthcoming world economy events
Economic calendar - real-time news and reports, as well as the schedule of forthcoming world economy events
  • www.mql5.com
Economic calendar includes most important economic indicators and events from ministries and agencies of different countries. The Calendar is useful for traders in the forex market, stock exchanges and other financial markets.
 

Crude Oil - long-term bearish breakdown (based on the article)

Ichimoku chart by Metatrader 5

  • "The S&P 500 energy sector (XLE -10.7%) is today's worst performer, bringing its week-to-date losses to 29% and year-to-date losses above 50%."

Ichimoku chart by Metatrader 5

  • "The basis for today's sharp selloff remains much the same as in recent sessions: concerns about potential defaults for highly leveraged companies, expectations for a coronavirus-led economic growth slowdown or downturn that will reduce demand for oil, plunging oil prices (WTI -6.1% to $30.95/bbl; Brent -8.2% to $32.83/bbl) which are a symptom of the growth concerns and the Saudi-Russia price war, a likely wave of dividend cuts, tax-loss selling activity, etc."

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The chart was made with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:

Oil names crushed again, bringing YTD losses to 50%
Oil names crushed again, bringing YTD losses to 50%
  • Carl Surran
  • seekingalpha.com
The S&P 500 energy sector (XLE -10.7%) is today's worst performer, bringing its week-to-date losses to 29% and year-to-date losses above 50%. The basis for today's sharp selloff remains much the same as in recent sessions: concerns about potential defaults for highly leveraged companies, expectations for a coronavirus-led economic growth...
 

Crypto News - Bitcoin: daily bearish breakdown; globval bearish trend is coming (based on the article)

Bitcoin/USD chart by Metatrader 5

Bitcoin/USD chart by Metatrader 5

  • "Bitcoin prices plummeted today, shedding approximately half of their value as global markets were afflicted by widespread panic and liquidity problems. The digital currency fell to as little as $3,867.09, CoinDesk figures show. At this point, the cryptocurrency had plunged 49.6% from its price of more than $7,600 at the start of the day, and was trading at its lowest in almost a year, additional CoinDesk data reveals."
  • "When explaining bitcoin’s extreme price decline, analysts emphasized concerns surrounding the coronavirus and a global liquidity crunch."

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The chart was made on MT5 with standard indicators of Metatrader 5 as well as the following indicators from CodeBase:

Bitcoin Lost Roughly 50% Of Its Value In A Day
Bitcoin Lost Roughly 50% Of Its Value In A Day
  • 2020.03.12
  • Charles Bovaird
  • www.forbes.com
Bitcoin prices plummeted today, shedding approximately half of their value as global markets were afflicted by widespread panic and liquidity problems. At this point, the cryptocurrency had plunged 49.6% from its price of more than $7,600 at the start of the day, and was trading at its lowest in almost a year, additional CoinDesk data reveals...
 

Google - daily bear market rally; 1,257 resistance for the daily bullish reversal (based on the article)

Google share price by Metatrader 5

  • "At the close of markets on Friday, just minutes after President Trump began speaking, the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all soared by about 9.3%."
  • ''Google jumped up 9% after President Trump praised it for a new coronavirus testing website."

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The chart was made with standard indicators of Metatrader 5 except the following indicator (free to download):

Stocks End Chaotic Week With Biggest Gain Since 2008, S&P, Dow Soar 9%
Stocks End Chaotic Week With Biggest Gain Since 2008, S&P, Dow Soar 9%
  • 2020.03.13
  • Sarah Hansen
  • www.forbes.com
Topline: Fresh off their worst losses since 1987, U.S. stocks rebounded sharply following President Trump’s announcement that the coronavirus pandemic would be declared a national emergency, a move that will free up as much as $50 billion in federal aid to help combat the crisis. At the close of markets on Friday, just minutes after President...
 

Euro Forecast: 1.0777 is the bearish target; 1.1406 is the resistance level for the bullish trend to be resumed(based on the article)

EUR/USD Ichimoku chart by Metatrader 5

  • "EUR/USD reversed direction last week as it turned sharply lower in response to a decision by the European Central Bank to keep Eurozone interest rates unchanged rather than cut them as most traders and analysts had expected."
  • "The ECB’s decision raised fears that it is failing to respond sufficiently to the threat of an economic recession prompted by the Covid-19 coronavirus pandemic."
  • "The downturn in EUR/USD may therefore continue even though the US Federal Reserve is expected to cut US interest rates again this week to help stimulate the US economy."

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The chart was made with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:

Market Condition Evaluation based on standard indicators in Metatrader 5
Market Condition Evaluation based on standard indicators in Metatrader 5
  • 2013.06.02
  • www.mql5.com
I just started this thread as a continuation of the talking made on this topic (we can read it). Or...
 

S&P 500 - bearish breakdown; 2,395 is support level for the bearish trend to be continuing (based on the article)

S&P 500 weekly Breanwashing Ichimoku chart by Metatrader 5

  • "On January 9th, I pointed to cresting weekly and monthly cycles as reasons for a lower S&P 500. The actual high was on February 19th, and the index has dropped more than 20%. I once asked the late Art Merrill which factor was more important in determining the end of a market move…time or price. He responded by stating that price would be the primary factor. In that case, the 1987 crash could have been considered a mini bear market. Because the Fed can simply inject funds into the system without limit, corrective periods can be shorter and bear episodes can end more quickly. Sentiment has reversed from overly optimistic to very bearish in a short period of time. It appears that Thursday’s drop has put in a tradable low."

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Chart was made on MT5 with BrainTrading system (MT5) from this thread (free to download) as well as the following indicators from CodeBase: 

All about BrainTrading system for MT5:

The S&P 500 Cycles Have Bottomed
The S&P 500 Cycles Have Bottomed
  • 2020.03.15
  • Bill Sarubbi
  • www.forbes.com
On January 9th, I pointed to cresting weekly and monthly cycles as reasons for a lower S&P 500. The actual high was on February 19th, and the index has dropped more than 20%. I once asked the late Art Merrill which factor was more important in determining the end of a market move…time or price. He responded by stating that price would be the...
 

Federal Funds Rate and FOMC Statement (based on the article)

Dollar Index (DXY) daily chart by Metatrader 5

  • "Sunday evening started with a bang in the U.S. with the Federal Reserve’s Federal Open Market Committee announcing its second emergency (intermeeting) rate cut in two weeks, with the Fed Funds target now set at 0% to 0.25%.  The markets quickly responded with a raspberry, as U.S. equity futures gyrated for a few minutes before hitting the “limit down” level of 5%."
  • "The Fed now has used up its ammunition.  There is really very little that the Fed or any other world central bank can do to ensure liquidity remains in the financial system.  Except for some weirdness in Thursday and Friday trading —which saw mortgage rates spike, for instance—this COVID-19 sell-off has been largely unaccompanied by any systemic financial system stress."
  • "Stocks are declining for a reason that is refreshing to those of us in the old-timers’ cohort.  Earnings estimates are declining and will continue to do so.  COVID-19’s impact on the earnings power of Corporate America is completely unknown at this point and, frighteningly, is also completely uncomprehended in consensus earnings estimates for the S&P 500."

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The chart was made on daily timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:

Fed Interest Rate Decision - economic data from the United States
Fed Interest Rate Decision - economic data from the United States
  • www.mql5.com
Fed Interest Rate Decision is made eight times a year during the vote among the members of the Federal Open Market Committee (FOMC). The US Federal Reserve determines short-term interest rates, which it will charge on credit and loans to commercial banks. It is one of the most important events according to the impact on financial markets and...
 

AUD/USD Intra-Day Fundamentals: Australia House Price Index (HPI), RBA Meeting Minutes and range price movement  

2020-03-17 00:30 GMT | [AUD - HPI]

  • past data is 2.4%
  • forecast data is 4.8%
  • actual data is 3.9% according to the latest press release

if actual > forecast (or previous value) = good for currency (for GBP in our case)

[AUD - HPI] = Change in the selling price of homes in the nation's 8 state capitals.

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From official report :

  • "Weighted average of the eight capital cities Residential Property Price Index rose 3.9% this quarter."

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AUD/USD: range price movement by Australia House Price Index (HPI) news event 

AUD/USD: range price movement by Australia House Price Index (HPI) news event

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Charts were made on MT5 with Brainwashing system/AscTrend system (MT5) from this thread (free to download) together with following indicators:

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The forum threads
  1. Key forum thread - Fast Fourier Transform - Cycle Extraction - the thead with FFTfiltr indicator and explanation
  2. New EA based on the !xMeter (!xMter based on Fast Fourier Transform) - the thread 
  3. Many FFT indicators with examples and explanations - the thread 
  4. Ticks Before The News - the thread with many FFT indicators and explanation how to trade

CodeBase

  1. dt_FFT - library for MetaTrader  
  2. LGLIB - Numerical Analysis Library - library for MetaTrader 4 
  3. ALGLIB - Numerical Analysis Library - library for MetaTrader 5 
  4. AFIRMA - indicator for MetaTrader 5
  5. Fourier extrapolation of price - indicator for MetaTrader 5

The articles

Economic calendar - real-time news and reports, as well as the schedule of forthcoming world economy events
Economic calendar - real-time news and reports, as well as the schedule of forthcoming world economy events
  • www.mql5.com
Economic calendar includes most important economic indicators and events from ministries and agencies of different countries. The Calendar is useful for traders in the forex market, stock exchanges and other financial markets.
 

Euro Stoxx 50 - bearish breakdown (based on the article)

Euro Stoxx 50 chart by Metatrader 5

  • "As the coronavirus spreads unabated, some European stock markets are banning short-sellers to try and stem the ongoing losses in the equity markets. Spain has banned short-selling for a month, while France, Italy and Belgium have also stopped the practice for shorter time frames to stop further losses. The Spanish equity market is currently 38% lower this year, France is down 37%, Italy has fallen by 41%, while the Belgium exchange has also shed around 40%. This massive loss of value over the last few weeks has prompted the current bans which may well be extended and copied by other exchanges if indiscriminate selling persists. The Euro Stoxx 50, made up of the 50 largest and most liquid European stocks, is down 37% this year with little support seen on the weekly chart until just over the 2,000 level."
  • "Central banks around the globe now to need to consider boosting their current monetary action further, while member states need to add a fiscal boost to stem the current economic mayhem. Countries around the world are either in or heading into recession and it will need a concerted global effort to try and cushion the economic blow. While monetary policy has helped to buffer the effect of the coronavirus, its effectiveness is wearing thin. A full-blown, whatever it takes, monetary and fiscal wave of liquidity and bottom-up support is now desperately needed."

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The chart was made with standard indicators of Metatrader 5 except the following indicator (free to download):

European Stock Exchanges Ban Short-Selling, Massive Stimulus Needed
European Stock Exchanges Ban Short-Selling, Massive Stimulus Needed
  • Nick Cawley
  • www.dailyfx.com
Spain has banned short-selling for a month, while France, Italy and Belgium have also stopped the practice for shorter time frames to stop further losses. The Spanish equity market is currently 38% lower this year, France is down 37%, Italy has fallen by 41%, while the Belgium exchange has also shed around 40%. This massive loss of value over...
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