Press review - page 575

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$10K Bitcoin by 2018 (based on the article)

Intra-day price on H8 chart is on bullish breakout for 9,714 resistance level to be breaking for the bullish breakout to be continuing with 10,000 psy level as a next bullish target.


  • "In September of 2014, in an interview with Fox Business, Tim Draper claimed Bitcoin would hit $10,000 USD in three years. To put that in perspective, Bitcoin was worth $413 USD at the time of the interview. Even strong believers in bitcoin and cryptocurrency in general were skeptical of such massive overall growth—particularly after the intense fluctuations the market, like the crash of 2011, in which the cryptocurrency declined in value by 94 percent."
  • "Well, today, Bitcoin surged past $9,000—having increased well over $2,000 in the last month alone—making that wild prediction of yore look a lot more like a safe guess (even leaving aside the value of Bitcoin Cash, currently hovering around $1,600 USD)."

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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:

 

Alibaba - daily ranging bullish; 191.53 is the key (based on the article)

Daily shares price is above Ichimoku cloud in the bullish raging within the following support/resistance levels:

  • 191.53 resistance located in the beginning of the bullish trend to be resumed, and
  • 176.69 support level located in the beginning of the daily bearish reversal to be started.

Ascending triangle pattern was formed for the price to be crossed to above for the bullish trend continuation.


  • "Hong Kong-listed Tencent, famous for its games and WeChat messaging service, became the first Asian firm to break into the US$500 billion league last week - briefly overtaking Facebook as the world’s fifth biggest company by market value."
  • "Alibaba is just a few billion shy of joining its Chinese competitor at the top table of public listings - and is already there when taking into account its private affiliates. While the top five - Apple, Google’s parent company Alphabet, Microsoft, Amazon and Facebook - thrive across the world, the two Chinese firms have made their fortunes by cornering China’s own vast market of 750 million Internet users."
  • "Tencent and Alibaba do have a major advantage over American rivals because China severely restricts access to its Internet, with Facebook and Google kept outside the "Great Firewall." Alibaba, meanwhile, has dominated the e-commerce market, with Chinese consumers flocking to its shopping platforms to buy everything from laundry detergent to Boeing 747s."

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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:

 

Just a word : it's insane.

Bitcoin Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa
Bitcoin Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa
  • powercompare.co.uk
Bitcoin’s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it’s a bubble waiting to burst. However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is the surge in global electricity consumption used to...
 

EUR/USD - daily breakout with the bullish reversal (based on the article)

Daily price broke Ichimoku cloud tpo above for the reversal of the price movement from the ranging bearish to the primary bullish market condition. The price is located above Ichimoku cloud in the bullish area of the chart forresistance level at 1.1960 to be broken for the bullish breakout to be continuing.


  • "EURUSD: Retail trader data shows 29.4% of traders are net-long with the ratio of traders short to long at 2.4 to 1. The number of traders net-long is 8.5% higher than yesterday and 8.7% lower from last week, while the number of traders net-short is 0.4% lower than yesterday and 4.2% higher 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. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed EURUSD trading bias."

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

 

Crude Oil - daily ranging bullish; 63.96 is the key (based on the article)

Daily price is above Ichimoku cloud in the bullish area of the chart: the price is ranging within 63.96 resistance level for the bullish trend to be continuing with 64.63 bullish tarhet to re-enter and 61.06 support level for the secondary correction to be started.


  • "Crude oil: In recent weeks large speculators have been buying oil contracts at an extremely aggressive pace, bringing the net-long position to a new record last week of 596k contracts from 417k in the middle of last month. A modest reduction was seen in the most recent report, with the net-long declining by over 19k to 577k contracts. "
  • "The sheer size of the position is reason for concern for oil bulls, and the sharp run-up in a relatively short period of time makes price vulnerable to a pullback. It would be a healthy development, if crude is to continue higher, that we see a reduction in the position without too much technical damage done in the process. But for now, risk of a reversal and/or period of volatile trade at this time is elevated as positioning has reached an unstable level. This should favor the short-term trader looking for two-way price action to take advantage of."

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The chart was made on D1 timeframe with standard indicators of Metatrader 5 except the following indicators (free to download):

 

NZD/USD Intra-Day Fundamentals: RBNZ Financial Stability Report and range price movement 

2017-11-28 20:00 GMT | [NZD - RBNZ Financial Stability Report]

[NZD - RBNZ Financial Stability Report] = Reserve Bank of New Zealand provides insights into the bank's view of inflation, growth, and other economic conditions that will affect interest rates in the future.

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From scoop.co.nz article :

  • "The New Zealand dollar was little changed, holding above 69 US cents for the second day, ahead of the Reserve Bank's financial stability report, which may signal an end to measures aimed at cooling the property market."
  • "The Reserve Bank is expected to reiterate that the financial system is in good shape but is likely to repeat that housing remains a risk and that it is keeping an eye on commodity prices, especially dairy. But it may also include some commentary on the effectiveness of macroprudential tools such as loan-to-value ratio restrictions, given there are signs that heat is coming out of the property market and it has previously flagged that market as a risk to financial stability."
  • "The report is released at 9am, with a media briefing at 11am and an appearance by Reserve Bank officials before the finance and expenditure select committee. Also out this morning is an announcement from the government on changes to the brief for the Overseas Investment Office, which may include a register of foreign buyers and restrictions on their activities."

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NZD/USD M1: range price movement by RBNZ Financial Stability Report 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:

All about BrainTrading system for MT5:

Financial Stability Reports - Reserve Bank of New Zealand
Financial Stability Reports - Reserve Bank of New Zealand
  • www.rbnz.govt.nz
The Reserve Bank publishes a six-monthly Financial Stability Report (FSR). In the FSR we assess and report on the soundness and efficiency of the New Zealand financial system. The Bank published its first FSR in October 2004. Macro-prudential indicators are statistics used to assess financial system risk, and to assist in appraising whether a...
 

Intra-Day Fundamentals - GBP/USD, AUD/USD and USD/CAD: GDP Second Release

2017-11-29 13:30 GMT | [USD - GDP]

  • past data is 3.0%
  • forecast data is 3.3%
  • actual data is 3.3% according to the latest press release

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

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

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From official report :

  • "Real gross domestic product (GDP) increased at an annual rate of 3.3 percent in the third quarter of 2017 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.1 percent."
  • "The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the increase in real GDP was 3.0 percent. With this second estimate for the third quarter, the general picture of economic growth remains the same; nonresidential fixed investment, state and local government spending, and private inventory investment were revised up from the prior estimate (see "Updates to GDP" on page 2)."

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GBP/USD M5: range price movement by U.S. Gross Domestic Product news events


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AUD/USD M5: range price movement by U.S. Gross Domestic Product news events


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USD/CAD M1: range price movement by U.S. Gross Domestic Product 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:

BEA 2017 News Release Schedule
  • www.bea.gov
Release Subject Date Time Please Note: We do not recommend using this online calendar with Outlook 2003 or older versions. The calendar will not update automatically in those applications Instructions for Microsoft Outlook and Apple iCal Users: Simply click on this link...
 

Bitcoin/USD - bullish breakout; 11,522 is the next key target (adapted from the article)

Daily price broke trendline together with 9,988 resistance level to above for the bullish breakout. The price is breaking 10,798 resistance for the bullish breakout to be continuing with 11,522 as a next target to re-enter.


  • "This week, we are attempting to highlight a potential move in Bitcoin that could disrupt the global economy and more traditional investment vehicles. For the past few years, Bitcoin has been on a terror to the upside. Recently, a 30% downside price rotation caused a bit of panic in the Crypto world. This -30% decline was fast and left some people wondering what could happen if something deeper were to happen – where would Crypto’s find a bottom. From that -30% low, Bitcoin has recovered to previous highs (near $8000) and have stalled – interesting."
  • "While discussing Bitcoin with some associates a while back, I heard rumor that a move to Bitcoin CASH was underway and that Bitcoin would collapse as some point in the near future. The people I was meeting with were very well connected in this field and were warning me to alert me in case I had any Bitcoin holdings (which I do). I found it interesting that these people were moving into the Bitcoin CASH market as fast as they could. What did they know that I didn’t know and how could any potential Bitcoin blowout drive the global markets?"

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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:

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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

Bitcoin Blowout coincide with a Major Market Blowout?
Bitcoin Blowout coincide with a Major Market Blowout?
  • www.thetechnicaltraders.com
Our team of researchers continues to attempt to identify market strengths and weakness in the US major markets by identifying key, underlying factors of the markets and how they relate to one another. Recently, we’ve been warning of a potentially explosive bullish move in Metals and our last article highlighted the weakness in the...
 

Nikkei 225 - daily bullish ranging within narrow 22,795/22,210 levels for direction (based on the article)

Daily price is above Ichimoku cloud for the ranging within 22,795 resistance level for the bullish trend to be resumed and 22,210 support level for the secondary correction to be started.


  • "The index remains at first glance very much where it was; a shade below this year’s overall highs but certainly holding on at a relatively elevated level. However, appearances can be deceptive. For there have been some changes to the picture and they’re quite encouraging ones for any bulls out there even if they’re hard to spot. For one thing the trading range has narrowed somewhat, in that its base is now clearly a little higher. Last week we were looking at 21,853, now it’s more like 21,173. At face value this looks encouraging. Not only are we seeing “higher lows”, but the pattern looks broadly consolidative which may mean that the index pushes on higher once it breaks."
  • "Note that the index doesn’t look either oversold or overbought to any great degree at present. That is a probably welcome change from the situation in early November. Back then it was overbought with a vengeance. Now its Relative Strength Index has collapsed back to a sober 54, well below the exuberant 80-plus levels hit back then. The safety zone is generally considered to be between 30 and 70. That the Nikkei can look so relaxed at current levels is probably also a reassuring sign."

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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:

DailyFX Home
DailyFX Home
  • www.dailyfx.com
The index remains at first glance very much where it was; a shade below this year’s overall highs but certainly holding on at a relatively elevated level. However, appearances can be deceptive. For there have been some changes to the picture and they’re quite encouraging ones for any bulls out there even if they’re hard to spot. For one thing...
 

Intra-Day Fundamentals - GBP/USD, AUD/USD and USD/CAD: China Federation of Logistics and Purchasing Index

2017-11-30 01:00 GMT | [CNY - Manufacturing PMI]

  • past data is 51.6
  • forecast data is 51.5
  • actual data is 51.8 according to the latest press release

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

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

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From chinadailyasia article :

  • "China's manufacturing sector expanded at a faster pace in November, official data showed Thursday. The country's manufacturing purchasing managers' index (PMI) came in at 51.8, up from 51.6 in October, according to the National Bureau of Statistics (NBS)."
  • "China's manufacturing PMI has been in positive territory for 16 consecutive months."

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USD/CNH M15: range price movement by China Manufacturing PMI news events


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AUD/USD M5: range price movement by China Manufacturing PMI 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:

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