Press review - page 574

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EUR/USD - bullish ranging within 1.1859/1.1584 levels (based on the article)

Daily price is on ranging near and below Ichimoku cloud and Senkow Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart. The price is testing resistance level at 1.1859 to above for the daily bullish reversal toi be started, otherwise - bullish ranging within 1.1859/1.1584 levels.


  • "EURUSD: Retail trader data shows 29.9% of traders are net-long with the ratio of traders short to long at 2.35 to 1. The number of traders net-long is 12.7% lower than yesterday and 23.3% lower from last week, while the number of traders net-short is 6.2% lower than yesterday and 15.8% lower from last week."
  • "We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EURUSD prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EURUSD-bullish contrarian trading bias."

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

 

Dax Index - daily ranging bullish near bearish reversal; weekly bullish to be resumed (based on the article)

Daily price is located near and above Ichimoku cloud in the bullish area of the chart. The price is on ranging within wide s/r levels for the bullish trend to be resumed if 13,248 crossed to above or the bearish reversal to be started in case of the price breaks 12,844 support level to below on close daily bar.


  • "On Wednesday, the DAX broke down below important support in the low-12900s, but managed to recover by the close of the session to put in a modest reversal-day. This helped keep a bid in the market, but it’s a sticky area with key support in place by way of the consolidation period during October and prior high in June and resistance at the long-term top-side trend-lines crossing over in the current vicinity and just above. A lot going on in a tight window."
  • "The key to keeping a floor in the market at this juncture is last week’s low at 12847. A close below and another leg lower will have eyes on the July swing-high at 12676, and then an important long-term trend-line dating back to the June low from last year. Also in that same vicinity is the 200-day MA."
  • "The longer it takes for the market to lift risk increases with each passing day that we are seeing a pause before a break towards the aforementioned levels. If the DAX can convincingly gain traction, there aren’t any substantial levels to contend with until the prior record high at 13525. But this doesn’t mean it will be easy getting back to those levels. The recent pullback was strong, it may take some time for market confidence to rebuild again if we are to see a serious attempt on making new record highs."

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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:

 

Bovespa Index - daily ranging inside Ichimoku cloud; 76,251 is the key (based on the article)

The price on daily chart is on ranging market condition located inside Ichimoku cloud waiting for the direction of the trend to be started: 76,251 resistance level for the bullish reversal and 71,020 support level for the bearish trend to be resumed.


  • "Ibovespa, the benchmark stock market index in Brazil, closed up 1.57% at 74,594.61 points on Tuesday amid a better external scene and investors' view that president Michel Temer is closer to get the pension reform bill voted in the House of Representatives later this year."
  • ""In the external scenario, it was a very positive day for risky assets. There was news that led to a positive expectation on the pension reform bill, which could be voted at the beginning of December, giving the market a boost," said Rafael Passos, an analyst at Guide Investimentos." 
  • "According to H. Commcor's chief operating officer, Ari Santos, the cabinet reform promoted by Temer leads the market to believe that he would have the political strength to pass the pension reform bill."

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The chart was made on D1 timeframe with standard indicators of Metatrader 4 except the following indicators (free to download):

BRAZIL: Ibovespa Rises With Expectation For Discussion Of Pension Reform
BRAZIL: Ibovespa Rises With Expectation For Discussion Of Pension Reform
  • www.rttnews.com
(Agencia CMA Latam) - Ibovespa, the benchmark stock market index in Brazil, closed up 1.57% at 74,594.61 points on Tuesday amid a better external scene and investors' view that president Michel Temer is closer to get the pension reform bill voted in the House of Representatives later this year. "In the external scenario, it was a very positive...
 

Top 5 Tips For New Bitcoin Investors (based on the article)

  1. Do Your Homework
    The more you understand the better off will be.
  2. Proceed With Caution
    Risk is inherent to investment, and investors should keep in mind that digital currency is in a very early stage of development when compared to similar asset markets like the stock or bond markets. As for how best to enter positions, Tim Enneking, managing director of Crypto Asset Management, gave specific input. "Don’t chase Bitcoin prices. Decide on a entry point and stick with it," he said. "With Bitcoin, you’re almost always right in terms of foreseeable price action – it’s your timing that might be off. So, be patient, and let the Bitcoin price come to you." Once Bitcoin has reached the right price, Enneking suggested that investors refrain from buying their Bitcoin all at once. Instead, they should "stage in and stage out," meaning they should invest a little at a time, wait for a bit, and then invest some more.
  3. Diversify Effectively
    Over the last several years, Bitcoin has produced some very impressive gains, and media outlets have developed a steady stream of stories about "Bitcoin millionaires." While these stories might tempt an investor to put all their money in Bitcoin, keep in mind that no investment professional would advise an individual to put all their eggs in one basket. When creating a diversified portfolio, investors could consider altcoins, more traditional assets such as stocks and bonds, or both.
  4. Keep Your Coins In Wallets
    While exchanges are a great place to purchase digital currencies, they may not be the best place to hold such assets. "Don't store coins on an exchange," emphasized Eliosoff. "In Bitcoin's short history many, many exchanges have gotten hacked," he noted. 
  5. Prepare For Volatility
    The digital currency markets are notoriously volatile, and there are several strategies that investors can use to manage the inevitable price fluctuations.
 

Intra-Day Fundamentals - USD/JPY, USD/CNH and Gold: U.S. Durable Goods Orders

2017-11-22 13:30 GMT | [USD - Durable Goods Orders]

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

[USD - Durable Goods Orders] = Change in the total value of new purchase orders placed with manufacturers for durable goods.

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From cnbc article :

  • "New orders for key U.S.-made capital goods unexpectedly fell in October after three straight months of hefty gains, but a sustained increase in shipments pointed to strong momentum in the economy as the year winds down."
  • "Shipments of core capital goods advanced 0.4 percent last month after accelerating by 1.2 percent in September. Core capital goods shipments are used to calculate equipment spending in the government's gross domestic product measurement."

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USD/JPY M1: range price movement by Durable Goods Orders news events


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USD/CNH M1: range price movement by Durable Goods Orders news events


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XAU/USD M1: range price movement by Durable Goods Orders news events


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

US Census Bureau Manufacturers’ Shipments, Inventories, and Orders
  • US Census Bureau: Adriana Stoica (M3 Section Chief)
  • www.census.gov
Our population statistics cover age, sex, race, Hispanic origin, migration, ancestry, language use, veterans, as well as population estimates and projections. This section provides information on a range of educational topics, from educational attainment and school enrollment to school districts, costs and financing.
 
...

  1. Do Your Homework
    The more you understand the better off will be.
...

The other name is backtest.

In addition, trading robots are able to help the traders. It just helps to the extent like a chess program helping a chess player. However, it is the player who has to deal with the high and low of the game, to match the program to its opponent and who will spend the winning prize.

 

U.S. Commercial Crude Oil Inventories news event: bounced to bullish intra-day reversal; daily bullish ranging for direction; 63.39/63.68 levels are the keys

2017-11-22 15:30 GMT | [USD - Crude Oil Inventories]

  • past data is 1.9M
  • forecast data is -1.4M
  • actual data is -1.9M according to the latest press release

[USD - Crude Oil Inventories] = Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

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"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.9 million barrels from the previous week."

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Crude Oil M5: bounced to bullish reversal. The price was bounced from 62.58 support level to above for the breakout with the bullish reversal.

If the price breaks 63.39 resistance level to above on M5 close bar so the bullish trend will be started.
If the price breaks 62.58 support level to below on M5 close bar so the primary bearish trend will be resumed.
If not so the price will be on ranging within the levels.


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Crude Oil Daily: bullish ranging within narrow s/r levels. Daily price is above Ichimoku cloud in the bullish ranging within 63.68 resistance level for the bullish trend to be resumed and 61.06 support level for the secondary correction to be started.


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Chart #1.
The 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:

Chart #2.
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:

 

EUR/USD - daily bullish reversal; 1.1860 is the key (based on the article)

Daily price is on the secondary rally for Ichimoku cloud together with 1.1860 to be crossing to above for the daily bullish reversal to be started.


  • "The Euro is struggling to make upward progress after pushing past resistance that had defined the down trend against the US Dollar since early September. The breakout suggested that the dominant 2017 advance was back in play but follow-through has been cut off ahead of the 1.19 figure, at least for now."
  • "From here, a daily close above support-turned-resistance at 1.1857 opens the door for a challenge of the 23.6% Fibonacci expansion at 1.1967. Alternatively, a reversal back below the 1.1662-79 area (August 17 low, 23.6% Fib retracement) paves the way for a retest of the November 7 low at 1.1553."
  • "Prices are too close to immediate resistance to justify entering short from a risk/reward perspective. On the other hand, the absence of an actionable bearish reversal signal warns against taking up the short side. With that in mind, opting for the sidelines seems most prudent until a better trade setup presents itself."

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The 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
 

EUR/USD - intra-day bullish breakout (based on the article)

Intra-day price on H4 chart is above 200 SMA in the bullish breakout: the price is testing resistance level at 1.1944 for the bullish trend to be continuing.


  • "Coming into last week we were looking for EUR/USD to possibly test, but not break, important bottom and top-side levels. On Tuesday, the euro came down very near the support-zone surrounding 11700 before launching higher. Friday’s rally did, however, see prices break on through resistance around the 11876-threshold (2010 low) which has been a big focal point since August. "
  • "Closing the day, week in the 11900s is important because it not only leaves the ‘head-and-shoulders’ pattern completely in the dust with a break above the ‘right shoulder’, but also opens up a path to the year-high at 12092. The area surrounding the 2010 low will once again go from resistance to a source of support. If the rally is to pick up steam, then we shouldn’t see a lasting move into the 11800s. Helping provide further support on any weakness is the tend-line off the month low, so even if a modest dip below unfolds there is trend support to help keep a bid in place."

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The 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
 

Weekly Outlook: 2017, November 26 - December 03 (based on the article)

The US dollar was on the back foot in the week of Thanksgiving and now we are back to business with a busy week. A mix of housing data, inflation figures, and an update on GDP stand out Here are the highlights for the upcoming week.


    1. US New Home Sales: Monday, 15:00. A drop to 627K is predicted.
    2. Bill Dudley speaks, Tuesday, 00:00. The outgoing president of the New York Fed will speak in California and may clarify the Fed’s stance on inflation after the dovish meeting minutes. Dudley used to be a dove but has expressed optimism in recent months. Is a December rate hike still on the cards? Probably. But in 2018, everything is possible. Dudley will also speak on Wednesday at 13:30, but the first weekly appeance is more important.
    3. US CB Consumer Confidence: Tuesday, 15:00. A slide to 123.9 is on the cards now.
    4. US GDP (second release): Wednesday, 13:30. An upgrade to 3.3% is predicted given the upbeat updates for the third quarter.
    5. Janet Yellen testifies, Wednesday, 14:00. The outgoing Fed Chair Janet Yellen will testify in Washington. Her recent worries that weak inflation is not transitory and the dovish meeting minutes set the ground for her testimony. Has she changed her mind on the December rate hike? Once again, the probability is low, but a softer stance in 2018 by her successor Powell is likely. The focus remains inflation.
    6. Euro-zone inflation: Thursday, 10:00. Healine inflation is expected to bounce to 1.6% and core inflation to tick up to 1%.
    7. US Core PCE Price Index: Thursday, 13:30. Month over month, a rise of 0.2% is projected.
    8. Canadian jobs report Friday, 13:30.
    9. Canadian GDP: Friday, 13:30.
    10. US ISM Manufacturing PMI: Friday, 15:00. A small slide to 58.4 is on the cards.
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