Press review - page 577

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GOLD (XAU/USD) - bearish ranging near daily bullish reversal (based on the article)

Daily price is on ranging near and below Ichimoku cloud for the bearish trend to be continuing or for the bullish reversdal to be started. The key support level is 1,270 so if the price breaks this level to below together with descending triangle pattern formed so the primary daily bearish trend will be resumed, otherwise - ranging within the levels.


  • "Coming into the year, Gold prices were dropping like a rock. This was on the back of the surge being seen in the U.S. Dollar as the ‘Trump Trade’ got further priced-through capital markets. But as that Dollar strength viciously turned into aggressive weakness in the first quarter of the year, Gold prices began to lift-higher. This lasted all the way into June, where a double top around the $1,296 level finally initiated some element of resistance. This is a level that remains resistant, as we saw just last week when price action tried to break through on Monday, Tuesday and Wednesday; only to fail as sellers pushed back down towards the confluent support zone that we’ve been following. "
  • "Once either of these sides give way, traders can begin plotting longer-term directional approaches in Gold. Until then, be cautious around getting caught in between the cracks of support and resistance on near-term Gold charts."

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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:

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
 

AUD/USD Intra-Day Fundamentals: Australia Retail Sales and range price movement 

2017-12-05 00:30 GMT | [AUD - Retail Sales]

  • past data is 0.1%
  • forecast data is 0.3%
  • actual data is 0.5% according to the latest press release

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

[AUD - Retail Sales] = Change in the total value of sales at the retail level. 

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From official report :

  • "The trend estimate fell 0.1% in October 2017. This follows a relatively unchanged estimate (0.0%) in September 2017, and a relatively unchanged estimate (0.0%) in August 2017."
  • "The seasonally adjusted estimate rose 0.5% in October 2017. This follows a rise of 0.1% in September 2017 and a fall of 0.6% in August 2017."

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AUD/USD M15: range price movement by Australia Retail Sales 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:

8501.0 - Retail Trade, Australia, Oct 2017
  • www.abs.gov.au
OCTOBER KEY FIGURES OCTOBER KEY POINTS CURRENT PRICES The trend estimate fell 0.1% in October 2017. This follows a relatively unchanged estimate (0.0%) in September 2017, and a relatively unchanged estimate (0.0%) in August 2017. The seasonally adjusted estimate rose 0.5% in October 2017. This follows a rise of 0.1% in September 2017 and...
 

USD/CAD Intra-Day Fundamentals: Canada Trade Balance and range price movement 

2017-12-05 13:30 GMT | [CAD - Trade Balance]

  • past data is -3.2B
  • forecast data is -2.3B
  • actual data is -1.5B according to the latest press release

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

[CAD - Trade Balance] = Difference in value between imported and exported goods during the reported month. 

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From official report :

  • "Canada's merchandise trade deficit with the world totalled $1.5 billion in October, narrowing from a $3.4 billion deficit in September. Exports were up 2.7% on higher exports to the United States, while imports decreased 1.6% on lower imports of motor vehicles and parts."

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USD/CAD M15: range price movement by Canada Trade Balance news event 


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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:

 

AUD/USD Intra-Day Fundamentals: Australia Gross Domestic Product and range price movement 

2017-12-06 00:30 GMT | [AUD - GDP]

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

[AUD - GDP] = Change in the inflation-adjusted value of all goods and services produced by the economy. 

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From official report :

  • "The Australian economy grew by 0.6% in seasonally adjusted chain volume terms in the September quarter."

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AUD/USD M5: range price movement by Australia Gross Domestic Product news event 


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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:

5206.0 - Australian National Accounts: National Income, Expenditure and Product, Sep 2017
  • www.abs.gov.au
SEPTEMBER KEY FIGURES SEPTEMBER KEY POINTS GDP SUMMARY The Australian economy grew by 0.6% in seasonally adjusted chain volume terms in the September quarter. Compensation of employees increased 1.2%. 17 of 20 industries recorded positive growth this quarter. New engineering construction increased 6.3%. Household final consumption...
 

USD/JPY - daily ranging around bullish/bearish reversal area for direction (based on the article)

Daily price is ranging aroud 100 SMA/200 SMA reversal area.

If the price breaks 113.09 resistance level to above so the priumary bullish trend will be resumed.
If the price breaks 110.84 support level to below on daily close bar so the bearish reversal will be started.


  • "The near-term USD/JPY candlestick version makes it look as though a head and shoulder pattern may be in the offing. After all the current climb seems to be losing momentum already, before it gets anywhere near the previous peak of 114.72. And it’s losing momentum just about exactly where the putative first shoulder was made. Should the second be confirmed by a marked move lower from current levels then the entire climb up from September’s lows in the 107 region could be in some jeopardy."
  • "It’s also worth looking at the range which has essentially contained USD/JPY all year. To be sure it is broad, taking the pair from the 107-region up to the 114s. But it has endured through all of 2017’s fundamental twists and turns and it is probably safest to assume that it still does, in the absence of clear evidence to the contrary."

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The chart was made on M5 timeframe with standard indicators of Metatrader 5 except the following indicator (free to download):

 

USD/CAD Intra-Day Fundamentals: BOC Rate Statement, Overnight Rate and range price movement 

2017-12-06 15:00 GMT | [CAD - Overnight Rate]

  • past data is 1.00%
  • forecast data is 1.00%
  • actual data is 1.00% according to the latest press release

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

[CAD - Overnight Rate] = Interest rate at which major financial institutions borrow and lend overnight funds between themselves. 

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From official report :

  • "The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent."
  • "The global economy is evolving largely as expected in the Bank’s October Monetary Policy Report (MPR). In the United States, growth in the third quarter was stronger than forecast but is still expected to moderate in the months ahead. Growth has firmed in other advanced economies. Meanwhile, oil prices have moved higher and financial conditions have eased. The global outlook remains subject to considerable uncertainty, notably about geopolitical developments and trade policies."

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USD/CAD M5: range price movement by BoC Overnight Rate news event 


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The chart was made on M5 timeframe with standard indicators of Metatrader 5 except the following indicator (free to download):

Bank of Canada maintains overnight rate target at 1 per cent
Bank of Canada maintains overnight rate target at 1 per cent
  • www.bankofcanada.ca
The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
 

AUD/USD Intra-Day Fundamentals: Australian Trade Balance and range price movement 

2017-12-07 00:30 GMT | [AUD - Trade Balance]

  • past data is 1.60B
  • forecast data is 1.37B
  • actual data is 0.11B according to the latest press release

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

[AUD - Trade Balance] = Difference in value between imported and exported goods and services during the reported month. 

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From official report :

  • "In trend terms, the balance on goods and services was a surplus of $644m in October 2017, a decrease of $112m on the surplus in September 2017."
  • "In seasonally adjusted terms, the balance on goods and services was a surplus of $105m in October 2017, a decrease of $1,499m on the surplus in September 2017."

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AUD/USD M5: range price movement by Australian Trade Balance 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:

5368.0 - International Trade in Goods and Services, Australia, Oct 2017
  • www.abs.gov.au
OCTOBER KEY FIGURES OCTOBER KEY POINTS BALANCE ON GOODS AND SERVICES In trend terms, the balance on goods and services was a surplus of $644m in October 2017, a decrease of $112m on the surplus in September 2017. In seasonally adjusted terms, the balance on goods and services was a surplus of $105m in October 2017, a decrease of $1,499m...
 

Hang Seng Index (HSI) - daily bearish reversal (based on the article)

Daily share price is on breakdown with the bearish reversal: the price is breaking 28,302 support level to below to be reversed to the primary bearish market condition.
Chinkou Span line broke historical price to below for the bearish breakdown and Absolute Strength indicator is estimating the future possible trend as a bearish as well.


  • "The International Monetary Fund said the current circumstances warrant a targeted increase in capital even though the China's banking system meets the Basel requirement. In a report, released Wednesday, the Washington-based lender said buffer capital would help to absorb potential losses. More capital is justified for the largest banks because of their systemic importance and interconnectedness, the IMF said."
  • "The IMF said the impact of the shocks is highly uneven across banks. Large, medium and city-commercial banks appeared vulnerable."

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The chart was made on MN1 timeframe with standard indicators of Metatrader 4 except the following indicators (free to download):

 

Bitcoin has breached $14,000 (based on the article)


  • "Bitcoin rose above $14,000 today, reaching its latest milestone as the digital asset's sharp rally continued. The cryptocurrency climbed to as much as $14,095.61 on CoinDesk's Bitcoin Price Index (BPI)."
  • "It is a full bull run that is blowing out expectations," said Justin Wu, head of growth at Coincircle.com. 

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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:

 

What Does Bitcoin's Meteoric Rise Mean For Investors? (based on the article)

The daily price is testing the resistance level at 16,761 to above for the bullish breakout to be continuing.


  • "Bitcoin prices have rallied so far this year, climbing past $16,000 and returning more than 1,300% year-to-date. These sharp gains have produced many so-called Bitcoin millionaires, as reports have cropped up all over about individuals who have made their fortunes simply by investing in the digital currency. "
  • I think this is going to be the biggest bubble of our lifetime," said Oliver Isaacs, a tech entrepreneur and investor. "Valuations and prices are going to get out of control." 
  • Analyst Tariq Alwahedi has provided similar warnings, recently stating that "I believe that a correction is imminent." 
  • Alwahedi, CEO of CryptoBnB, a cryptocurrency-based platform for renting, added:
    "The fundamentals are still very strong for BTC, but at the speed it's growing I feel the increase in price of BTC is driven by hype and speculation more than fundamentals." 

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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:

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