Press review - page 561

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Bitcoin - intra-day bullish breakout (based on the article)

The price on H4 chart is above the cloud for the bullish breakout - price is crossing 4,418 resistance level to above for the bullish trend to be continuing.


  • "News that Catalonia has won ‘right to statehood’ sent the price of Bitcoin at $4400 on Sunday evening, close to 45% above the recent low. That’s music in the ears of Bitcoin traders who pushed the digital currency up close to $150 dollars on Sunday evening, as clashes between pro-independence demonstrators and Spanish police broke off."
  • "Bitcoin prices have stayed firmly above $4ooo recently, as traders have realized that the digital currency can survive and thrive without China. And government regulation is positive, not negative, for the future of Bitcoin and other major cryptocurrencies. It adds credibility to the market, while limiting the supply of new coin offerings."

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The chart was made on D1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:

 

Intra-Day Fundamentals - EUR/USD, USD/JPY and AUD/USD: ISM Manufacturing PMI

2017-10-02 13:30 GMT | [USD - ISM Manufacturing PMI]

  • past data is 58.8
  • forecast data is 57.9
  • actual data is 60.8 according to the latest press release

if actual > forecast (or previous one) = good for currency (for USD in our case)

[USD - ISM Manufacturing PMI] = Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry.

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From official report :

  • "Economic activity in the manufacturing sector expanded in September, and theoverall economy grew for the 100th consecutive month, say the nation's supply executives in the latestManufacturing ISM® Report On Business®."
  • "The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: "The September PMI® registered 60.8 percent, an increase of 2 percentage points from the August reading of 58.8 percent. The New Orders Index registered 64.6 percent, an increase of 4.3 percentage points from the August reading of 60.3 percent."

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EUR/USD M5: range price movement by ISM Manufacturing PMI news events


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USD/JPY M5: range price movement by ISM Manufacturing PMI news events


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AUD/USD M5: range price movement by ISM Manufacturing PMI news events


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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:

Institute for Supply Management | Established in 1915
Institute for Supply Management | Established in 1915
  • www.instituteforsupplymanagement.org
FOR RELEASE: October 2, 2017 September 2017 Manufacturing ISM® Report On Business® PMI® at 60.8% New Orders, Production, Backlog of Orders and Employment Continue Growing Supplier Deliveries Slowing Raw Materials Inventories Growing, Customers' Inventories Too Low Prices Increasing at Faster Rate (Tempe, Arizona) — Economic activity in the...
 

AUD/USD - intra-day bearish breakdown; 0.7791 is the key (based on the article)

Intra-day price on H4 chart is far below Ichimoku cloud for the 0.7791 support level to be testing for the primary bearish trend to be continuing.


  • "One-week implied volatility is at a relatively subdued level of 7.85%, suggesting we will see limited price movement over the course of the next few days. There is of course room for a surprise with tomorrow’s events but the market isn’t anticipating anything which will shake things up too much. Of interest, is the confluence between the projected one-week range-low of 7729 and solid support in the same area as far back as August 2016. With there being good confluence between projected price movement and support it appears likely we will see a hold of support should AUDUSD trade down to that point, at least on any initial test."
  • "Looking higher, there isn’t any particular alignment between resistance and price levels. Giving the path of least resistance in the near-term (lower) it may be difficult for aussie to exceed the projected range-high of 7899 with conviction."

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The chart was made on W1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:

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AUD/USD M5: range price movement by RBA Rate Statement and Cash Rate news events


Chart was made on MT4 using 5 day Breakout - indicator and MaksiGen_Range_Move indicator from CodeBase (free to download).

DailyFX
DailyFX
  • www.dailyfx.com
In the following table, you’ll find implied volatility (IV) levels for major USD-pairs looking out over the next one-day and one-week time-frames. Using these levels, we’ve derived the range-low/high prices from the current spot price within one-standard deviation for specified periods. Statistically speaking, there is a 68% probability that...
 

Another version of bitcoin (based on the article)


  • "Bitcoin Gold (BTG) plans to hard fork the cryptocurrency on October 25, creating another version of bitcoin in the process. The project was first made public back in July and was created by Jack Liao, founder of Lightning ASIC, a mining firm from Hong Kong. The fork will include the adoption of a new protocol that will change some of the consensus mechanisms relating to bitcoin. The result is that miners would be able to go about mining for tokens in new ways. According to bitcoin.com, the new BTG will make use of the Equihash algorithm that Zcash uses, rather than bitcoin’s SHA256 algorithm."
  • Official website for Bitcoin Gold (BTG): http://btcgpu.org

 

GOLD (XAU/USD) - daily correction near bearish reversal; 1,255 is the key (based on the article)

Daily price is located near and above Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart. The price is testing descending triangle pattern with 1,268 support level to below with 1,255 level as the nearest target for the bearish reversal to be started. 


  • "Spot Gold: Retail trader data shows 75.9% of traders are net-long with the ratio of traders long to short at 3.15 to 1. The number of traders net-long is 8.2% higher than yesterday and 5.4% higher from last week, while the number of traders net-short is 5.6% lower than yesterday and 6.4% lower from last week."
  • "We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Spot Gold prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Spot Gold-bearish contrarian trading bias."
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The chart was made on W1 timeframe with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicator from CodeBase:

DailyFX
DailyFX
  • www.dailyfx.com
Spot Gold: Retail trader data shows 75.9% of traders are net-long with the ratio of traders long to short at 3.15 to 1. The number of traders net-long is 8.2% higher than yesterday and 5.4% higher from last week, while the number of traders net-short is 5.6% lower than yesterday and 6.4% lower from last week. We typically take a...
 

USD/JPY - daily bullish reversal; 113,25 is the key (based on the article)

Daily price broke Ichimoku cloud from below to above to be reversed to the primary bullish market condition: the price is testing 113,25 resistance level for the bullish trend to be continuing, otherwise - ranging within the levels.


  • "The Japanese Yen has been hammered by US Dollar bulls in the past month, to an extent quite unusual this year. The greenback has risen by nearly six full Yen since its lows of early September, as investors looked at stronger US economic numbers and a Federal Reserve still apparently intent on raising interest rates in December should those numbers hold up. By contrast in Japan ultra-loose monetary policy still rules and, while consumer price inflation is clearly rising in a way sure to please its own central bankers, a sustainable 2% rate remains a distant and possibly unrealisable dream. The resulting, wider yield gap in US Treasury’s favour hit the Yen too."
  • "That quick fundamental detour aside, however, USD/JPY has clearly been in some sort of topping out process since September 21 and, although the days since include the current rally’s highs, the bulls seem be pausing for breath, at least."

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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:

Same system for MT4:

  1. Brainwashing. Trades: manually and using EAs (MT4)
  2. Brainwashing EAs - the thread (MT4)
  3. Brainwashing: system setup for trading manually and for EAs (MT4) - the thread 
  4. Brainwashing: system development (MT4) - the thread
DailyFX
DailyFX
  • www.dailyfx.com
That quick fundamental detour aside, however, USD/JPY has clearly been in some sort of topping out process since September 21 and, although the days since include the current rally’s highs, the bulls seem be pausing for breath, at least. Still, for all the Dollar bullishness around its surely notable that if the pair does indeed top out around...
 

GBP/USD Intra-Day Fundamentals: UK Services PMI and range price movement 

2017-10-04 09:30 GMT | [GBP - Services PMI]

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

[GBP - Services PMI] = Level of a diffusion index based on surveyed purchasing managers in the services industry. 

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From official report :

  • "The headline seasonally adjusted IHS Markit/CIPS Services PMI® Business Activity Index posted 53.6 in September, up from an 11-month low of 53.2 in August. Looking at Q3 as a whole, growth has eased slightly since the previous quarter (the index averaged 54.3 in Q2, compared to 53.5 in Q3)."
  • "September data indicated that input cost inflation reached a seven-month high and remained among the strongest seen since early-2011. Higher operating expenses were linked to rising food, energy and fuel bills, alongside increased prices for imported items and greater staff salaries. Sharply rising cost burdens prompted another solid increase in average prices charged by service sector firms."

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GBP/USD M5: range price movement by UK Services PMI news event 


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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:

Same system for MT4:

  1. Brainwashing. Trades: manually and using EAs (MT4)
  2. Brainwashing EAs - the thread (MT4)
  3. Brainwashing: system setup for trading manually and for EAs (MT4) - the thread 
  4. Brainwashing: system development (MT4) - the thread
 

AUD/USD Intra-Day Fundamentals: Australian Retail Sales and range price movement 

2017-10-05 01:30 GMT | [AUD - Retail Sales]

  • past data is -0.2%
  • forecast data is 0.3%
  • actual data is -0.6% according to the latest press release

if actual > forecast (or previous one) = good for currency (for AUD in our case)

[AUD - Retail Sales] = Change in the total value of sales at the retail level. 

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From official report :

  • "The seasonally adjusted estimate fell 0.6% in August 2017. This follows a fall of 0.2% in July 2017 and a rise of 0.2% in June 2017."
  • "Revisions to seasonally adjusted estimates are due to the concurrent methodology for deriving seasonal factors. For information on seasonal adjustment and trend estimation please refer to the explanatory notes of this publication."

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AUD/USD M5: range price movement by Australian Retail Sales news event 


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Chart was made on MT5 with MA Channel Stochastic system uploaded on this post, and using standard indicators from Metatrader 5 together with following indicators:

8501.0 - Retail Trade, Australia, Aug 2017
  • www.abs.gov.au
AUGUST KEY FIGURES AUGUST KEY POINTS CURRENT PRICES The trend estimate rose 0.1% in August 2017. This follows a rise of 0.1% in July 2017 and a rise of 0.2% in June 2017. The seasonally adjusted estimate fell 0.6% in August 2017. This follows a fall of 0.2% in July 2017 and a rise of 0.2% in June 2017. In trend terms, Australian turnover...
 

Google - intra-day bullish breakout; 962.26 is the key (adapted from the article)

The price on H4 chart broke Ichimoku cloud to be reversed to the primary bullish market condition: price is testing 962.26 resistance level to above for the bullish trend to be continuing.


  • "On Wednesday morning the company revealed Google Pixel Buds, intelligent wireless earbuds linked by a cloth cord that run Google Assistant. Touch controls on the right earbud to activate Google Assistant and control audio. Google says Pixel Buds are optimized for audio (obviously), but the slickest feature by far is translation. Tethered to an Android phone, the buds can do nearly real-time translation in 40 languages. An onstage demo at the company's Oct. 4 event was simple but impressive: an English/Swedish conversation translated in real time."
  • "It's impossible to predict how Google Pixel Buds will be received when they arrive at market, but their real-time translation feature is certainly a powerful differentiator if it works as smoothly as it appeared to onstage today. That may not be an easy feat in the wild — a busy street or night market is a very different scenario from the controlled onstage one we saw today."

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The chart was made on H4 timeframe with standard indicators of Metatrader 4 except the following indicators (free to download):

Google’s New Earbuds Can Translate 40 Languages
Google’s New Earbuds Can Translate 40 Languages
  • www.buzzfeed.com
There's a new and formidable presence in the smart headphone market — Google. On Wednesday morning the company revealed Google Pixel Buds, intelligent wireless earbuds linked by a cloth cord that run Google Assistant. Touch controls on the right earbud to activate Google Assistant and control audio. Google says Pixel Buds are optimized for...
 

Nikkei 225 - daily bullish breakout; 20,683 is the key with 20,760 target to re-enter (based on the article)

Price on the daily chart broke Senkou Span lines (which is the virtual border between the rimary bearish and the primary bullish trend on the chart) to above for the bullish reversal. Price is testing ascending triangle pattern together with 20,683 to abbove for the bullish breakout to be continuing with 20,760 resistance level as a nearest bullish target to re-enter.


  • "The Nikkei 225 is perhaps the Asia/Pacific index most inclined to reflect the exhuberance of Wall Street where record highs for Dow, S&P, Nasdaq or all of them at once are now so common as to be barely worthy of remark.
  • "The Japanese benchmark is nowhere near its own record peak. That was hit way back in 1989. However, the index has scaled two year tops this week, boosted by US vigor and the prognosis that the Japanese Yen should weaken in the quarter ahead. This prospect always suits Japan’s plentiful export titans whose goods stand to look more attractibe to US consumers."
  • "So there are the fundamentals. But how safe is the Nikkei looking at these heights, technically speaking?"
  • "Well, the moving averages at least paint a rather positive picture. The Nikkei is above its 20-, 50- and 100-day averages and the 20-day has crossed above both its longer-term counterparts since mid-September. This is usually seen as a pretty bullish sign."

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The chart was made on H4 timeframe with standard indicators of Metatrader 4 except the following indicators (free to download):

DailyFX
DailyFX
  • www.dailyfx.com
The Nikkei 225 is perhaps the Asia/Pacific index most inclined to reflect the exhuberance of Wall Street where record highs for Dow, S&P, Nasdaq or all of them at once are now so common as to be barely worthy of remark. The Japanese benchmark is nowhere near its own record peak. That was hit way back in 1989. However, the index has scaled two...
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