Press review - page 599

[Sergey Golubev]

Crypto News - Bitcoin: intra-day bearish reversal; 8,340 is the key (based on the article)

Intra-day H4 price is breaking senkou Span line together with descending triangle pattern with 8,340 support level to below for the primary bearish reversal.

• "Stocks have encountered some notable volatility lately, with the benchmark S&P 500 Index suffering a correction last month and experiencing further weakness in March. The major stock indices - specifically the S&P 500 and the Dow Jones Industrial Average - have not fallen in to a bear market yet. However, any such decline could potentially cause investors to panic, driving them to safe-haven assets like Bitcoin and gold."
• "Bitcoin will likely benefit if stocks suffer a "major pullback," stated Tim Enneking, managing director of Crypto Asset Management. Many market observers are closely watching the relationship between the stock market and Bitcoin, noted Mati Greenspan, senior market analyst for social trading platform eToro. "So far we haven't seen any flows from the stocks into Bitcoin," he stated, emphasizing that many traders do not believe that the recent declines in stocks constitute a bear market."

============

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

• BrainTrend2Sig indicator from Codebase (free to download)
• Ichimoku Cloud - indicator for MetaTrader 5
• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Fibo Bar MT5 - indicator for MetaTrader 5

All about BrainTrading system for MT5:

• BrainTrending indicators to download with template.
• Rules to trade manually
• How to install 

[Sergey Golubev]

Big Banks Could Eventually Warm Up To Bitcoin And Ripple (based on the article)

• "Big banks want to crush Ripple and Bitcoin. At least, that’s the impression one gets by listening to speeches of high profile bankers, attacking the very premise and the valuation of Bitcoin. Last year, for instance, J.P. Morgan Chase & Co. leader Jamie Dimon called the digital currency a “fraud,” and a “tulip bulb.” There’s a good reason for that. Each cryptocurrency is in competition with banks, especially Ripple. “If big banks were to succeed in crushing one of these two currencies, Ripple would be it,” says Shidan Gouran, President and COO of Global Blockchain."

============

The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post together with the following indicators from CodeBase:

• BrainTrend2Sig indicator from Codebase (free to download)
• Ichimoku Cloud - indicator for MetaTrader 5
• MaksiGen_Range_Move MTF - indicator for MetaTrader 5

[Sergey Golubev]

Weekly Fundamental Forecast for Dollar Index (based on the article)

Dollar Index - "US politics triggered brutal bloodletting across financial markets last week, handing the bellwether S&P 500 stock index its biggest loss in over two years. A staff reshuffle at the White House purged moderating voices on the foreign policy front shortly after the same fate befell the economics team, surrounding President Trump with a cadre of enablers encouraging his most bellicose tendencies. The exit of top economic advisor Gary Cohn in opposition to tariffs that Mr Trump levied on steel and aluminum imports paved the way for still more protectionism. This time, the President slapped China with tariffs of up to $60 billion as punishment for alleged intellectual property theft, which Beijing promptly promised to counter with duties of their own. Incoming economic data is unlikely to help the greenback remedy this conflict. A revision of fourth-quarter GDP data is expected to see thegrowth upgraded from 2.5 to 2.7 percent. Meanwhile, the Fed’s favored PCE inflation gauge is forecast hit 1.6 percent in February, the highest in 11 months. These outcomes will reinforce the FOMC’s cautious optimism, but that is probably the extent of their significance."

============

The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post.

[Sergey Golubev]

Weekly Fundamental Forecast for USD/JPY (based on the article)

USD/JPY - "This past week was a volatile one with plenty of developments which saw stock markets fall and the anti-riskJapanese Yen emerge higher against its major peers. A relatively less hawkish FOMC monetary policy announcement on Wednesday fueled a US Dollar selloff across the aboard and the Yen benefited from it. But things really started heating up the following day. The week ahead will probably leave the Japanese Yen once again mostly vulnerable to external developments as opposed to domestic ones. To give an example, when Japan’s February CPI report crossed the wires at its highest since March 2017 last week, the currency failed to offer a meaningful reaction even though prices moved steadily towards the Bank of Japan’s inflation target."

============

The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post.

[Sergey Golubev]

Weekly Fundamental Forecast for GBP/USD (based on the article)

GBP/USD - "The EU/UK transition period was expected to be formally ratified at the EU Council Summit at the end of the week but on Monday news broke that both sides expected it to be passed, pushing GBP higher. The extra icing on the Sterling cake came on Thursday when the Bank of England announced that all monetary policy settings were unchanged but the voting pattern showed two MPC members voted for an immediate 0.25% rate hike. Looking forward to next week, Sterling should have an easier path with little in the way of UK data to deflect it, while noise around Brexit is expected to be muted after the latest agreement. GBPUSD trades comfortably above all three moving averages, the pair is not in overbought territory, while IG Client Sentiment data shows that traders remain net-short of GBPUSD, a contrarian bullish signal. A break back above this week’s high at 1.4220 should open the way to 1.4280 before re-testing the 1.43460 multi-month high."

============

The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post.

[Sergey Golubev]

Weekly Fundamental Forecast for AUD/USD (based on the article)

AUD/USD - "Trade remains gloomily front and center. As a ‘risk asset’ geared to the global cycle, the Australian currency probably has as much to lose as any from any ratcheting-up of trade tensions. And they are ratcheting up. News last week that US President Donald Trump had signed off on US$50 billion of tariffs against China, and threatened more wide ranging trade barriers, was not good news for Aussie bulls. All countries and regions threatened by higher US trade barriers are now considering their options and it seems as though diplomacy and compromise of an order apparently in short supply will be needed to avoid outright trade war. Against this international backdrop it’s hard to see the Australian Dollar making headway. At the very least it will remain hostage to trade headlines."

============

The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post.

[Sergey Golubev]

Weekly Fundamental Forecast for Crude Oil (based on the article)

Crude Oil - "The forecast for next week will remain at bullish, largely driven by a combination of geopolitics and technicals. It’s unlikely that the scenario around Iran will resolve anytime soon, and growing tensions around the fluid topic of trade wars will likely bring a weaker US Dollar which could, in-turn, help to push Oil prices higher. Prices appear poised to revisit the three-year highs, and just above that is an interesting point of resistance as the 50% Fibonacci retracement of the 2014-2016 sell-off in Oil prices, and if we can re-engage above that level at 66.87, the door opens for a test of the psychological level at $70."

============

The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post.

[Sergey Golubev]

Weekly Fundamental Forecast for Dax Index (based on the article)

Dax Index - "Looking ahead to next week, the economic calendar holds one ‘high’ impact data event by way of German employment figures to be released on Thursday. Risk trends continue to be a dominant theme here for the benchmark, as Europe in general is quite weak relative to the U.S., which are now weakening as well. The DAX finally made good on the lower-high it formed earlier in the month, selling off aggressively towards the monthly low. The bearish channel is well intact and suggests we should expect rallies to fail from here. Keep an eye on the U.S. markets as risk trends become increasingly more important to the direction of global stock markets. If risk unravels the lower-side of the channel around 11650 is likely to offer little in the way of support."

============

The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post.

[Sergey Golubev]

Weekly Fundamental Forecast for GOLD (based on the article)

XAU/USD - "Gold prices surged this week with the precious metal up nearly 2.7% to trade at 1348 ahead of the New York close on Friday. The losses come amid continued weakness in broader risk assets with all three U.S. Major Indices down more than 4% on the week. For gold, the advance has taken prices through the monthly opening-range highs and keeps the focus higher heading into the monthly close. For gold, the prospect of a more gradual normalization path from the central bank alleviated the recent downward pressure with mounting concerns over the potential for a global trade war stoking demand for the perceived safety of the yellow metal. From a technical standpoint, Gold has stretched into fresh monthly highs with the advance keeping the near-term focus higher heading into next week."

============

The chart was made on Metatrader 5 using HWAFM tool pattern tool from this post.

[Sergey Golubev]

Apple was down 7.3% for the week (based on the article)

Daily share price was bounced from 183 resistance to below for the secondary correction within the primary daily bullish trend to be started. For now, the price is breaking Ichimoku cloud to below for the bearish reversal with 162 support level as a nearest target to re-enter.

• "This was a brutal week for the stock market. The Dow was down over 1,400 points to close at 23,553, declining 5.7% which puts it in negative territory for the year, down 4.8%. The S&P was down 6% for the week and is now down 3.2% for the year. The NASDAQ had the worst week, down 6.5%, but is still up 1.3% for the year."
• "Apple was down 7.3% for the week vs. the NASDAQ’s 6.5%. Nomura, Cowen and BlueFin Research published notes cutting their iPhone estimates. They were a bit offset by Morgan Stanley and RBC publishing positive notes on the company’s Services business. The stock is selling for about a 14x PE multiple and still has its cash horde to buy back a ton of stock, so it may have more support than the highly valued tech stocks."

==========

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

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ASCtrend - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5
• Quick ZigZag plus DiNapoli - indicator for MetaTrader 5
• GMMA - indicator for MetaTrader 5

==========

Same systems for MT4/MT5:

The beginning

1. ASCTrend system, the beginning, part #1
2. ASCTrend system, the beginning, part #2
3. ASCTrend system, the beginning, part #3
4. ASCTrend system, the beginning, part #4 
5. Digital ASCTrend (Digital Filters with ASCTrend system combined).
6. LabTrend (LabTrend indicators, LabTrendZigZag, templates, Labtrend EAs) - the thread 

After

• The main AscTrend thread is this one.
• Asctrend indicator in depth 
• ASCTREND SYSTEM summary (good EAs included)
• Brainwashing system/AscTrend system (MT5) - the thread