Press review - page 677

[Sergey Golubev]

GOLD (XAU/USD) - bullish breakout to be started; 1,744 is the nearest target (based on  the article)

• "Gold prices ended the week on a strong note as "rising coronavirus cases in China and the United States accelerate the flight to safety," says FXTM senior research analyst Lukman Otunuga."

• "August Comex gold closed +1.3% to $1,753/oz., the highest finish for a most-active contract since mid-May, and ended 0.9% higher for the week; also, July silver  settled +1.9% to $17.84/oz., posting a weekly rise of 2.1%."
• "Goldman Sachs raised its 12-month forecast on gold to $2,000/oz. from $1,800, citing low real interest rates and concerns over currency debasement."
• "The bank also lifts its 12-month silver forecast to $22/oz. from a previous forecast of $15, expecting silver industrial demand to rise as the global economy recovers."
  

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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:

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

EUR/USD - bullish ranging near the bearish reversal; 1.1422 is the key resistance (based on the article)

• "There had been hopes that a solid economic recovery was on the way but that now seems in doubt, and the chances are that investors will again opt for safe havens like the US Dollar and the Japanese Yen rather than the Euro, the British Pound or the Australian Dollar."
• "This has already begun to take its toll on EUR/USD, which is now well down from the high above 1.14 reached earlier this month, and further losses from here would be no surprise."

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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:

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

[Sergey Golubev]

DAX Index - technical/fundamental forecast for the week (based on the article)

Bullish ranging within s/r channel waiting for the 12,999 resistance level to be crossed to above for the bullish trend to be continuing or for 11,589 support level to be crossed to below for the secondary correction to be started; 12,999 is the key level.

• "German stocks were thrust into the headlines this past week amid the Wirecard scandal, but given its status as one of the smallest DAX components, the scandal seems to have had little impact on the index’s price. Indeed, what may prove to be more harmful over time is the damage it dealt to investor confidence in some of the country’s other fledgling tech stocks. As the DAX 30 lacks significant event risk in the week ahead, it may be left grasping for influence as a result."

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The chart was made on MT5 with standard indicators of Metatrader 5 together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Laguerre - indicator for MetaTrader 5 (as a part of Laguerre scalping system)

[Sergey Golubev]

McDonald’s (NYSE:MCD) - weekly ranging to be ready for the bullish reversal; 202 resistance is the key with 218 as a target (based on the article)

• "McDonald's Corporation (MCD) shares rose about 2% during pre-market trading on Tuesday after the company reported a better-than-expected drop in comparable sales between late March and May. The iconic restaurant chain reported a 29.8% drop in comparable sales over the COVID-19-impacted period, consisting of a 12% drop in the United States, a 53.4% drop in operated international markets, and a 26.1% drop in licensed international markets. The company expects to invest about $200 million through an incremental marketing contribution across the United States and international operated markets to accelerate the recovery and drive growth. In addition, McDonald's is providing additional targeted financial support to some franchisee organizations that have been negatively affected across its system."
• "From a technical standpoint, McDonald's stock rebounded from trendline support and the 50-day moving average at around $182.82 this week. The relative strength index (RSI) remains at moderate levels with a reading of 52.61, but the moving average convergence divergence (MACD) is still at risk of a bearish crossover. These indictors suggest a lot of ongoing uncertainty surrounding future price direction. Traders should watch for a high-volume rebound from trendline support and the 50-day moving average at $182.82. If the stock breaks out, traders could see a move toward upper trendline resistance at around $206.00. If the stock breaks down, traders could see a move to retest reaction lows of around $168.00 over the coming sessions, although the intermediate-term trend remains bullish at the moment."

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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

[Sergey Golubev]

GBP/USD Intra-Day Fundamentals: UK Manufacturing PMI, BoE Gov Bailey Speech and range price movement  

2020-06-23 09:30 GMT | [GBP - UK Manufacturing PMI]

• past data is 40.7
• forecast data is 45.2
• actual data is 50.1 according to the latest press release

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

[GBP - UK Manufacturing PMI] = Change in the number of people claiming unemployment-related benefits during the previous month.

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From official report :

• "The seasonally adjusted IHS Markit/CIPS Flash UK Manufacturing Purchasing Managers’ Index® (PMI®) – a composite single-figure indicator of manufacturing performance – posted 50.1 in June, up from 40.7 in May and fractionally above the neutral 50.0 value. Moreover, the manufacturing output index also moved back into growth territory (50.8), which ended ending a three-month period of decline. Higher volumes of production were linked to a partial reopening of manufacturing plants."

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GBP/USD: range price movement by UK Manufacturing PMI 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:

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

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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

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

[Sergey Golubev]

NZD/USD Intra-Day Fundamentals: RBNZ Official Cash Rate, RBNZ Monetary Policy Statement and range price movement  

2020-06-24 03:00 GMT | [NZD - Official Cash Rate]

• past data is 0.25%
• forecast data is 0.25%
• actual data is 0.25% according to the latest press release

if actual > forecast (or previous good for currency (for NZD in our case)

[NZD - Official Cash Rate] = Interest rate at which banks lend balances held at the RBNZ to other banks overnight.

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From official report :

• "The Monetary Policy Committee agreed to continue with the Large Scale Asset Purchase (LSAP) programme aimed at keeping interest rates low for the foreseeable future. The LSAP quantum remains set at $60 billion. The assets included are New Zealand Government Bonds, Local Government Funding Agency Bonds, and NZ Government Inflation-Indexed Bonds. The Committee is committed to reviewing this quantum at regular intervals, with a focus on achieving its remit. The Official Cash Rate (OCR) is being held at 0.25 percent in accordance with the guidance issued on 16 March.""The Committee’s decisions are guided by the Reserve Bank’s mandate and its decision making principles on the use of alternative monetary policy instruments. We will outline the outlook for the LSAP programme and our readiness to deploy alternative monetary policy tools in our August Statement. We are committed to meeting our inflation and employment mandate."

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NZD/USD: range price movement by RBNZ  Official Cash Rate 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:

• BrainTrend2Sig indicator from Codebase (free to download)
• Ichimoku Cloud - indicator for MetaTrader 5
• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• CronexChaikin - indicator for MetaTrader 5
  
• ChandeQStick - indicator for MetaTrader 5
  
• Color Parabolic 2 - 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]

Microsoft Corp. (MSFT) - primary bullish trend with 199.29 resistance level crossing to above to 203.95 as a key target(based on the article)

• "Microsoft Corp. said Friday it will close all of its physical store locations, as part of the software and cloud giant's new approach to retail. The company expects to record a charge of $450 million, or 5 cents a share, during the current fiscal fourth quarter, for asset write offs and impairments. The new approach comes after the company had closed its Microsoft Store locations in late March as a result of the COVID-19 pandemic. The company said its retail employees will continue to work at corporate facilities and remotely. "Our sales have grown online as our product portfolio has evolved to largely digital offerings, and our talented team has proven success serving customers beyond any physical location," said Corporate Vice President David Porter."

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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:

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

[Sergey Golubev]

AUD/USD - daily bullish ranging; 0.7963 is the key resistance level for the bullish trend to be continuing (based on the article)

• "Australian Dollar surge against its major counterparts may be at an end, as local Covid-19 cases spike."
• "RBA Governor Lowe’s timid attempts at jawboning the local currency may intensify with deteriorating fundamentals."
• "Tensions with China could weigh on AUD moving forward."
• "From a technical standpoint AUD remains capped by the 2012 downtrend, which has consistently acted as a pivotal inflection point for the cycle-sensitive Australian Dollar. To that end, deteriorating fundamentals may impose increasing downward pressure on AUD against its major counterparts, and may signal the end to the commodity-linked currency’s surge to pre-crisis levels."
  

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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:

• 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

[Sergey Golubev]

Dollar Index - bear matket rally to the bullish reversal; 100.60 is the key resistance (based on the article)

• "US Dollar may rise as initial jobless claims stabilize."
• "Data may surprise higher: NFPs, PMIs and sentiment."
• "FOMC minutes may sink S&P 500, boosting Greenback."
• "The haven-linked US Dollar remains glued to the broader trend in investors’ risk appetite. Generally speaking, the USD has been weakening since equities bottomed in late March. Lately however, the slope of depreciation in the Greenback has been flattening. This is as the S&P 500 has struggled to find meaningful direction since the turn of June. Heading into the holiday-shortened week, investors will be anxiously awaiting May’s non-farm payrolls report. April’s data was a blowout, far surpassing even the most pessimistic economists’ expectations. More of the same could be ahead. Data out of the world’s largest economy has increasingly outperformed relative to expectations."
  

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The chart was made on MT5 with standard indicators of Metatrader 5 together with following indicator:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5

[Sergey Golubev]

EUR/USD - daily bullish ranging within 1.1353/1.1168 support/resistance levels (based on the article)

• "The coming week sees the start of a new month and a new quarter, when portfolio rebalancing could result in turbulent trading in major assets, including EUR/USD and the Euro crosses. Data in the coming week include inflation and unemployment statistics from several EU countries and the Eurozone as a whole. However, with global markets expected to remain dominated by risk-on/risk-off trades on good news/bad news about the coronavirus, the numbers are not expected to have an impact on EUR/USD, which will likely continue to rise when the Covid-19 news is good and fall when it is bad."
• "EUR/USD fell back in the days ahead of and after the last quarter end on March 31. This time round, the outperformance of US stocks compared with Eurozone stocks in Q2 could lead to flows out of the US and into Europe, boosting EUR/USD. However, that could be offset by the Euro’s outperformance of the US Dollar over the same period."

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The chart was made on MT5 with standard indicators of Metatrader 5 together with following indicators:

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Laguerre - indicator for MetaTrader 5 (as a part of Laguerre scalping system)