Press review - page 590

[Sergey Golubev]

USD/CNH Intra-Day Fundamentals: Caixin Services PMI and range price movement 

2018-02-05 01:45 GMT | [CNY - Caixin Services PMI]

• past data is 53.9
• forecast data is 53.6
• actual data is 54.7 according to the latest press release

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

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

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From official report :

• "The Caixin China Composite PMI™ data (which covers both manufacturing and services) indicated that growth momentum across China picked up for the third straight month in January. Furthermore, the Composite Output Index rose to a seven-year high of 53.7, from 53.0 in December, to signal a solid pace of expansion."
• "January survey data signalled accelerated rates of activity growth across both the manufacturing and service sectors in China. The steeper pace of expansion was registered by services companies, which saw the most marked increase in activity since May 2012. This was highlighted by the seasonally adjusted Caixin China General Services Business Activity Index posting 54.7 at the start of 2018, up from 53.9 in December. At the same time, manufacturers signalled the quickest upturn in production levels since December 2016."

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USD/CNH M1: range price movement by Caixin Services PMI news event 

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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

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]

Crypto News - Crypto Ads 'disappear' From Chinese Social Media (based on the article)

Bitcoin/Chinese Yuan price on the daily chart broke Ichimoku cloud to below for the reversal to the primary bearish market condition. If the price breaks 47,839 support level on daily close bar so the bearish breakdown will be continuing.

• "China's major social media networks and search engines reportedly do not appear to be publishing paid adverts for cryptocurrency-related products or companies. South China Morning Post quoted Weibo as saying that it does not currently allow advertising relating to cryptocurrencies, In September, the People's Bank of China (PBOC) had banned ICOs. Keywords such as "bitcoin" do not return paid ads."
• "Keywords such as "bitcoin", "cryptocurrency" and "ICO" do not return paid advertisements or obvious sponsored posts on China's largest search engine Baidu and on Weibo, a Twitter model Chinese-language microblog."
• "Facebook had announced Wednesday a new policy to ban advertisements promoting cryptocurrencies as the social network has had enough of fraudulent and deceptive information for cryptocurrency-related investments on its wall."

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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
• Fibo Bar MT5 - indicator for MetaTrader 5

[Sergey Golubev]

Crypto News - Japan's Peach To Accept Bitcoin For Airline Tickets (based on the article)

Bitcoin/Japanese Yen price on the daily chart is on the bearish breakdown by 854,679 support level to be breaking for the bearish breakdown to be continuing. By the way, yhe key support level is 304,851 and if the price breaks this support level to below so we may see the long-term final bearish for this pair.

• "Peach Aviation Ltd. has denied reports that it shelved plans to accept bitcoin as payment for airline tickets. The leading Japanese low-cost airline had announced in May 2017 that it would accept bitcoin through a partnership with Japanese cryptocurrency exchange, Bitpoint Japan, by the end of the year."
• "But after waves of fear passed through the crypto-markets in the wake of the hack of major Japanese bitcoin exchange Coincheck on January 26, and speculation of a crackdown on trading and spending in the crypto-market, reports said Peach may be halting its plan to accept the digital currency."
• "Peach Aviation, which operates more than 90 daily flights in 12 domestic and 13 international routes, offered the option to book seats using cryptocurrency to attract more tourists from other parts of Asia."

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The chart was made on daily timeframe with Ichimoku market condition setup (Metatrader 5) 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]

Crypto News - locking access; BTC/CNY is in critical bearish zone with long term breadown to be going soon (based on the article)

• "Chine plans to stamp out all remaining cryptocurrency trading in the country by blocking access to overseas-based websites and removing related applications from app stores. The moves were outlined in a report on Sunday by Financial News, a publication under the People’s Bank of China, which said the aim was to snuff out the “dying cinders” of cryptocurrency trading and initial coin offerings “which are glowing once more.” Faced with Chinese citizens who continue to trade cryptocurrency on platforms operated beyond the country’s reach, or take part in initial coin offerings, authorities will “ratchet up oversight in a sustained manner,” the report said. 
• "After launching a campaign last year, authorities eliminated most cryptocurrency trading in the country. China’s share of trading plummeted from 90 percent of the world to below one percent, the report said."
• "That crackdown sent Chinese cryptocurrency traders to overseas platforms operated in Hong Kong and Japan. The latest regulatory moves aim to cut off access to them."

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The chart was made on daily timeframe with Ichimoku market condition setup (Metatrader 5) 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]

NZD/USD - daily bullish ranging within narrow s/r levels (based on the article)

Daily price is on narrow ranging within 0.7419 resistance level for the bullish trend to be continuing and 0.7259 support level for the secondary correction to be started. By the way, 0.7036 is the daily bearish reversal level, and if the price breaks this level to below so the bearish reversal will be started.

• "The New Zealand Dollar turned lower as expected, breaking the rising trend guiding the currency higher against its US counterpart since early December. The plunge played out against a backdrop of risk aversion that gripped financial markets amid worries about a steep Fed rate hike cycle."
• "Near-term support is now at 0.7186, the 38.2% Fibonacci retracement, with a break below that on a daily closing basis opening the door for a challenge of the 50% level at 0.7109. Alternatively, a move back above the 23.6% Fib at 0.7282 and support-turned-resistance at 0.7321 exposes 0.7434 anew."
• "The bearish chart setup appeared to be reinforced by attractive risk/reward parameters and a short NZD/USD position was activated at 0.7275, initially targeting 0.7186. A stop-loss will be activated on a daily close above 0.7321. Partial profit will be booked and the stop-loss trailed to breakeven upon hitting the first objective."

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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
• 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]

Crypto News - "There's Nothing Wrong With The Crypto Markets" (based on the article)

Ripple daily price was bounced from 3.28 resistance to below for the bearish correction for the bearish reversal to be started: the price broke ichimoku cloud to below and the testing 0.63 support level for the bearish trend to be continuing with 0.21 nearest daily target to re-enter.

• "Investors have pointed to many different factors as causes for the drop. “At first, people said it was Bitcoin futures expiring,” says Kyle Samani, managing partner at Austin-based crypto investment firm Multicoin Capital. Some have cited reports that China is planning to ban crypto-asset trading on all exchanges, including those based in other countries. Others discussed impending U.S. regulation or claimed that people were selling to pay taxes, according to Samani. And Monday’s steep drop in the U.S. stock market might have caused more people to sell their crypto to lower their portfolio risk, he acknowledges."
• "But he thinks there’s a simpler reason at work: “The crypto market got overheated,” he says. “November through January was insane. Especially some of the altcoins—it was ludicrous.” He points to Ripple, whose XRP coin reached a market value of more than $140 billion, even though Ripple’s technology was only being piloted at some banks, and not fully adopted."

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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
• 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]

Crypto News - Regulators May Need More Power To Control Bitcoin (based on the article)

Intra-day BTC/USD price is on bearish area of the chart located below 100-SMA/200-SMA reversal levels: the price is testing 6,854 level to below for the bearish breakdown to be resumed.

"Senate Banking Committee Chair Mike Crapo said today Congress may need to give the Securities and Exchange Commission and other financial regulators more power and clarity to regulate Bitcoin and other virtual currencies. He said the risks of investing in ICOs and cryptocurrencies are significant because many promoters are not complying with US securities laws and because investors who put money into them may have their money could be sent overseas without their knowledge. Another risk to investors, said the regulator, is the SEC and state securities regulators may not be able to effectively pursue the overseas bad actors in the products."

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

• MaksiGen_Range_Move MTF - indicator for MetaTrader 5
• Double smoothed stochastic - indicator for MetaTrader 5
• Fibo Bar MT5 - indicator for MetaTrader 5

[Sergey Golubev]

Crypto News - "Bitcoin Is A Bubble, Ponzi, And Disaster" (based on the article)

Intra-day H4 price is on secondary correction within the primary bearish trading condition: the price is crossing 7,946 resistance level to above for the correction to be continuing.

By the way, if the price breaks 10,511 resistance level so the bullish reversal will be started. If the price breaks 6,692 support level to below so the intra-day bearish market condition will be resumed with 5,897 nearest target to re-enter,

• "The head of the Bank for International Settlements is forecasting a gloomy future for cryptocurrencies. "While perhaps intended as an alternative payment system with no government involvement, it has become a combination of a bubble, a Ponzi scheme and an environmental disaster," says Augustin Carstens, General Manager of the BIS. In a speech at Goethe University's House of Finance in Frankfurt Tuesday, he called into question Bitcoin's efficiency and legality."
• "The volatility of bitcoin renders it a poor means of payment and a crazy way to store value," according to Carsten.

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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

All about BrainTrading system for MT5:

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

[Sergey Golubev]

Crypto News - ban gambling using cryptocurrency in Australia (based on the article)

Ethereum/USD daily price is on the secondary correction within the primary bullish market condition: the price is on ranging near and above Senkou Span line support level at 546 to broken to below for the primary bearish reversal to be started.

• "The Northern Territory Racing Commission (NTRC), the Australian regional gambling regulator, is set to ban gambling using cryptocurrency in Australia. NTRC is against adding cryptocurrencies to Australian Gambling Websites. The chairman of the NTRC has reportedly sent out an informal email to all sports bookmakers and betting exchange operators in the Northern Territory asking them to immediately cease and desist from transacting in cryptocurrency."
• "These include ban of cryptocurrency ads by Facebook, and India as well as other regulators around the world taking strong stance against it. The price of bitcoin has more than halved from its all-time high around $20,000 in mid-December 2017. No different are other major digital currencies."
• "Banking majors around the world, including JPMorgan Chase, Bank of America, Citi, and Lloyds Banking, have also banned their customers from buying cryptocurrencies using credit card."

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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

All about BrainTrading system for MT5:

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

[Sergey Golubev]

Crypto News - "Most Crypto Coins Are Going to Zero" (based on the article)

• "If you’re a big believer in holding lesser-known cryptocurrencies, you’ll want to sit up and take notice. Barry Silbert, CEO of crypto holding company Digital Currency Group (DCG), surprised an audience full of crypto fans at Yahoo Finance’s “All Markets Summit: Crypto” event in New York on Wednesday. Aside from a handful of coins like Bitcoin, Ethereum Classic and Zcash, he said, “I think most of the others are going to zero.” Silbert, 41, built a name for himself on Wall Street by founding Second Market, a platform where people traded illiquid assets like shares in private tech companies. In 2015, he sold Second Market to Nasdaq and founded Digital Currency Group, which has invested in red-hot startups like Coinbase and owns crypto news site Coindesk. Silbert was named to Forbes’ inaugural list of the richest people in cryptocurrencies, with an estimated crypto net worth of $400 to $500 million."
• "Why does he think so many cryptocurrencies will disappear? “Most of these tokens don’t have real utility,” he said Wednesday. “Most of them are not differentiated from others. In the long run, I think there’s only going to be one digital gold. I think there’s only going to be one privacy-focused token. I think there’s going to be one main smart-contract platform.” This is a long-term prediction, he emphasized. “It may take 20 years to get there.” Silbert is still making bets on newer tokens, as illustrated by the assets DCG holds."

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

All about BrainTrading system for MT5:

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