Press review - page 602

[Sergey Golubev]

And if we look at this chart so we can understand about why some people consider USD/CAD as the best pair to trade the news - 

[Sergey Golubev]

Crypto News - Bitcoin daily bearish breakdown to be continuing; 6,598 is the key (based on the article)

• "A Wall Street analyst has reportedly predicted a massive selling of cryptocurrencies to U.S. dollars in the lead up to the mid-April tax filing deadline in the United States. Thomas Lee, head of research at Fundstrat Global Advisors, estimates that U.S. households likely owe $25 billion in capital gains taxes for their cryptocurrency holdings. This is in addition to crypto exchanges, which are liable to pay income taxes."
• "The crypto markets reported near 50 percent losses across Q1 2018. It was the worst first quarter performances for Bitcoin and Ethereum. However, anyone who capitalized on the crypto market boom in December 2017, when Bitcoin hit the record price of close to $20,000, will need to pay capital gains tax on their earnings."

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The chart was made on weekly 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:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Price prediction by Nearest Neighbor found by a weighted correlation coefficient - indicator for MetaTrader 5
• Fibo Bar MT5 - indicator for MetaTrader 5

[Sergey Golubev]

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

Dollar Index - "The big items on the macro-economic calendar for next week both take place on Wednesday, with March inflation numbers released early in the US morning and meeting minutes from the Fed’s March rate hike being released later in the day. We have one additional high impact USD print on the calendar for next Friday, with the April release of University of Michigan Consumer Sentiment Numbers. Next week also ushers in earning season out of the US as many US corporates release first quarter performance numbers."

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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 - "Going forward, the worry is that the sharp fall in the dominant services sector will drag Q1 GDP down to 0.3%, a touch lower than market expectations of 0.4%. The PMI surveys also showed that March UK GDP was just 0.15% due to the ‘Beast from the East’. While the bad weather has been factored in – next month’s PMIs are expected to jump back – any additional weakness in UK hard data may weigh on GBP ahead of the Bank of England’s expected 0.25% rate hike in May. This week’s UK data releases are minimal, leaving Sterling at the whim of other currencies, especially the USD which is starting to gain strength despite the ongoing US-China trade war and NAFTA negotiations."

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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 - "The Australian economy is revving quite nicely in some areas, notably the manufacturing sector where activity hit a record high last month according to the latest Purchasing Managers Index survey released last week. Given all of the above the currency is likely to remain under some pressure this week. Of course more positive trade headlines- or a simple absence of negative ones- could buy it some respite, as could more upbeat domestic data. We’ll get the latest snapshots of both business and consumer confidence in the coming week."

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

[Sergey Golubev]

Weekly Fundamental Forecast for Yuan (based on the article)

USD/CNH - "This week the offshore Yuan dropped for five consecutive days and had its largest loss against the U.S. Dollar since last October, amid the ongoing US-China trade disputes. China’s March trade data could reveal how much the country has been impacted by the disputes. The direct influence from US’s tariffs on steel and aluminum effective on March 23 may be limited; yet, the tightened tensions could worry exporters and importers, who may have to adjust their business plans for the next periods. According to Bloomberg, the growth of exports in March is expected to drop to 11.9% from 44.5% in last month."

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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 - "Crude oil prices came under pressure this past week as trade war fears and an overall decline in sentiment overshadowed developments on the production and inventory front. During the beginning of the week, US stocks were in the red coming out of a holiday, weighed down by the technology sector as President Donald Trump continued to attack Amazon.com. The week ahead is loaded with event risk for oil. Starting with the usual, API inventory estimates could give an idea of what’s to come on Wednesday when official EIA data crosses the wires. In addition, keep an eye out for March’s US CPI report which is also due on the same day. Headline inflation is expected to rise by the most in one year at 2.3% y/y. If the US Dollar rises on such an outcome, oil prices could fall since they are denominated in USD terms on global markets."

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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 inched higher this week with the precious metal nudging up nearly 0.5% ahead of the New York lose on Friday. The gains come amid continued volatility in broader markets with all three major U.S. equity indices poised to close lower on the week. For gold, this volatility may keep a floor under prices as risk sentiment begins to deteriorate. Gold prices have largely continued to trade within the January range with price holding this descending channel formation off the yearly highs. Daily momentum has failed to offer any guidance here and the focus is on immediate support at 1316 and the yearly high-day reversal close at 1348. We need to clear this range to get clarity on our medium-term outlook."

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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 - "It’s a quiet week ahead on the economic calendar, with no ‘high’ impact data releases set to be released. Keep an eye on the reaction in U.S. markets on Wednesday following the release of the FOMC minutes. Risk trends will likely be a dominant theme in the week ahead. The DAX, which had previously been a significant laggard behind the stronger U.S. market, found good strength last week and put together a large reflexive rally. The bounce took it up to the top of a bearish channel it continues to trade inside, with its beginnings dating back to February."

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

[Sergey Golubev]

AUD/USD - daily bearish ranging; weekly ranging for direction (based on the article)

Daily price is on ranging below Ichimoku cloud for the primary bearish market condition: the price is testing 0.7642 support level to below for the bearish trend to be continuing.

• "The Australian Dollar seems to be struggling to pick a direction to choose from against its US counterpart as of late. In the meantime, well-established support and resistance levels have formed and the gap between the two is slowly shrinking. These are the 76.4% Fibonacci retracement at 0.7651 and the descending line from March 16th respectively."
• "Before AUD/USD got to where it is now, the pair has essentially been in a downtrend since February. Since then, a falling wedge bullish pattern has formed. However, for confirmation, the pair will have to ascend to and break above the upper line of the formation. Positive RSI divergence shows that momentum to the downside is ebbing and it hints that prices may soon turn higher."
• "Beyond the aforementioned level, the next resistance target is the 61.8% retracement at 0.7743. A push above that exposes the upper line of the falling wedge. Should AUD/USD break through, it may soon find itself struggling to get past the 50% midpoint of the retracement."

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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:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• ColorSchaffTriXTrendCycle - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5

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