Press review - page 610

[Sergey Golubev]

Weekly Fundamental Forecast for GBP/USD (based on the article)

GBP/USD - "Next week the calendar is of little help with only a few low and medium importance releases on the slate with GfK business confidence on Wednesday and the Markit manufacturing PMI on Friday the pick of the bunch. This lack of market moving data may actually cause some market volatility with other normally less important news potentially having an outsized effect on the market."

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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 coming week offers investors plentiful insight into US economic doings. Consumer confidence, GDP and personal spending data will all be released, as will May’s crucial employment figures."

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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 Chinese Yuan (based on the article)

Chinese Yuan - "China will release both official and Caixin manufacturing PMI prints for May. Amid ongoing trade disputes, the official PMI dropped slightly in April to 51.4 but still higher than the average in the first quarter and better than in the same month of last year; it is expected to hold in May. Caixin PMI, measuring relatively smaller companies, increased in April and is expected to rise further in May. If continued improvement is seen, it will add evidence to a sustainable recovery."

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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 had the first weekly decline for the month of May as OPEC’s comments spooked bulls. More oil coming out of Saudi & Russia is helping to narrow a popular futures calendar spread that helped to visualize the bullish support for crude that weakened this week. Seemingly bearish rhetoric took hold of the Oil market causing the price to fall on Friday. Multiple reports came about OPEC, and their allies that are collectively known as OPEC+ as rolling back production cuts. There remains uncertainty about Venezuelan and Iranian supply that has likely supported these comments from OPEC+."

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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 - "The DAX has spent most of the past two months in the midst of a rip-roaring rally, aided in no small part by the pullback in the Euro. That rally erased as much as 78.6% of the prior bearish drop that showed earlier in 2018, and that level was hit on Tuesday as the bullish move continued. But Wednesday brought a change of pace, and Thursday brought some more, as concerns started to grow around European political risk. This carries the potential for a deeper down-side move, and on the weekly chart we have a bearish engulfing pattern."

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

[Sergey Golubev]

Crypto News - Bitcoin: daily price was finally reversed to the bearish; waiting for weekly bearish (based on the article)

• "Even as it entered a new week, Bitcoin (BTC) continued its downward trend and hit a monthly low of $7,176 Monday. This is the lowest price quoted for Bitcoin since Aprl 12."
• "The most popular cryptocurrency breached the 50-week moving average (MA) support for the first time since 2015."
• "A bearish continuation pattern indicates the sell-off has resumed, and points to the possibility of extending the slide further to $7,000 and beyond."

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

[Sergey Golubev]

GBP/USD: weekly correction to the bearish reversal; 1.3300 is the key (based on the article)

The weekly price was on the secondary correction on the bullish area of the chart: price was bounced from 1.4376 resistance level to below for 1.3300 support level to be tested. If the price break this key support so the global bearish reversal will be started, otherwise - ranging waiting for the direction.

• "The bearish move in the British Pound has continued into another week. After displaying a semblance of support around the key level of 1.3500 in the first couple of weeks of May, GBP/USD posed a downside break at the start of last week to continue the move, and with a heavy outlay of UK data on the calendar, the potential for a deeper bearish move was there."
• "At this point, we've seen a bit of support show-up in a familiar area. The zone that runs from 1.3269-1.3321 is an area that helped to mark resistance in August, October and November of last year; then becoming support in December before the pair launched up to fresh post-Brexit highs."
• "At this point, the primary complication with longer-term stances around GBP/USD is just how oversold the move has become. RSI has been in oversold territory for the entire month of May, and while this doesn’t preclude further declines, it does make the prospect of such a bit more distant."

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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
• Fibo Bar MT5 - indicator for MetaTrader 5
• Double Smoothed Stochastic - 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]

Intra-Day Fundamentals - Dollar Index, USD/CAD and GOLD: CB Consumer Confidence

2018-05-29 15:00 GMT | [USD - CB Consumer Confidence]

• past data is 125.6
• forecast data is 128.2
• actual data is 128.0 according to the latest press release

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

[USD - CB Consumer Confidence] = Level of a composite index based on surveyed households.

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From official report :

• "The Conference Board Consumer Confidence Index® increased in May, following a modest decline in April (after a downward revision). The Index now stands at 128.0 (1985=100), up from 125.6 in April. The Present Situation Index increased from 157.5 to 161.7, while the Expectations Index improved from 104.3 last month to 105.6 this month."

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Dollar Index M15: range price movement by CB Consumer Confidence news events

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USD/CAD M30: range price movement by CB Consumer Confidence news events

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XAU/USD M15: range price movement by CB Consumer Confidence news events

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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
• Vortex - 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]

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

2018-05-30 15:00 GMT | [CAD - BoC Overnight Rate]

• past data is 1.25% 
• forecast data is 1.25%
• actual data is 1.25% according to the latest press release

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

[CAD - BoC 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 1¼ per cent. The Bank Rate is correspondingly 1½ per cent and the deposit rate is 1 per cent."
• "Global economic activity remains broadly on track with the Bank’s April Monetary Policy Report (MPR) forecast. Recent data point to some upside to the outlook for the US economy. At the same time, ongoing uncertainty about trade policies is dampening global business investment and stresses are developing in some emerging market economies. Global oil prices have been higher than assumed in April, in part reflecting geopolitical developments."
• "Inflation in Canada has been close to the 2 per cent target and will likely be a bit higher in the near term than forecast in April, largely because of recent increases in gasoline prices. Core measures of inflation remain near 2 per cent, consistent with an economy operating close to potential. As usual, the Bank will look through the transitory impact of fluctuations in gasoline prices."
• "Overall, developments since April further reinforce Governing Council’s view that higher interest rates will be warranted to keep inflation near target. Governing Council will take a gradual approach to policy adjustments, guided by incoming data. In particular, the Bank will continue to assess the economy’s sensitivity to interest rate movements and the evolution of economic capacity."

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USD/CAD M1: range price movement by BoC Overnight Rate 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

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 Lexicon - BLOCKCHAIN (based on the article)

• "BLOCKCHAIN is an open distributed ledger that records transactions in blocks that are secured cryptographically. This is the underlying technology of Bitcoin. This digital decentralized ledger records transactions permanently, meaning they cannot be changed in future. BLOCKCHAINs keep growing as new transactions are added to the network."

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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
• ASCtrend - indicator for MetaTrader 5
• Ichimoku Cloud - indicator for MetaTrader 5
• Quick ZigZag plus DiNapoli - indicator for MetaTrader 5
• GMMA - indicator for MetaTrader 5
• Vortex - 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

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