DAX Index - daily bearish ranging with ascending triangle (based on the article)
Daily price is below Ichimoku cloud in the bearish area of the chart: the price is on ascending triangle pattern to be tested together with 12,294 resistance level to above for the secondary rally to be started, otherwise - bearish ranging within the levels.
U.S. Commercial Crude Oil Inventories news event: intra-day bullish breakout; daily bullish reversal; 52.28 daily level is the key
2017-08-23 15:30 GMT | [USD - Crude Oil Inventories]
[USD - Crude Oil Inventories] = Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.
"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.3 million barrels from the previous week."
Crude Oil M5: bullish breakout. The price is located far above 100-SMA/200-SMA reversal levels in the bullish area of the chart: price is testing ascending triangle pattern together with 52.28 resistance level to above for the bullish trend to be continuing..
If M5 price breaks 52.28 resistance level to above on close bar so the bullish trend will be continuing.If the price breaks 51.65 support level to below on close M5 bar so the bearish reversal will be started.If not so the price will be on ranging within the levels.
Crude Oil Daily: bullish reversal. The price is ranging within and near 100-SMA/200-SMA ranging area with the resistance level at 52.28 to be tested for the possible bullish reversal.
Brent Crude Oil - daily bullish ranging within 53.50/50.07 levels (based on the article)
Price on the daily chart is above the Ichimoku cloud for the bullish trend area to be ranging within 53.50 resistance level forthe bullish trend to be resum,ed and 50.07 support level for the bearish reversal to be started.
GBP/USD Intra-Day Fundamentals: U.K. Gross Domestic Product and range price movement
2017-08-24 09:30 GMT | [GBP - GDP]
if actual > forecast (or previous one) = good for currency (for GBP in our case)
[GBP - GDP] = Change in the inflation-adjusted value of all goods and services produced by the economy.
From official report :
GBP/USD M5: range price movement by U.K. Gross Domestic Product news event
Intra-Day Fundamentals - NZD/USD, Dollar Index and GOLD (XAU/USD): U.S. Jobless Claims
2017-08-24 13:30 GMT | [USD - Unemployment Claims]
if actual < forecast (or previous one) = good for currency (for USD in our case)
[USD - Unemployment Claims] = The number of individuals who filed for unemployment insurance for the first time during the past week.
From rttnews article :
NZD/USD M5: range price movement by U.S. Jobless Claims news events
XAU/USD M5: range price movement by U.S. Jobless Claims news events
Dollar Index M5: range price movement by U.S. Jobless Claims news events
USD/JPY - daily bearish ranging within 108.60/110.94 for bearish resumed or bullish reversal (based on the article)
Daily price broke Ichimoku cloud for the bearish area of the chart with the ranging within 108.60 support level for the bearish trend to be continuing and 110.94 resistance level for the bullish reversal to be started. Descending triangle pattern was formed by the price to be crossed to below for the beatrish as the most likely direction in this situation for example.
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2014.04.24 19:29
Overbought vs. Oversold (baseed on dailyfx article)
Learn Forex: USDJPY Hourly Chart – Overbought
The term Oversold describes a period of time where there has been a
significant and consistent downward move in price over a period of time
without much pullback. Basically a move from the “upper-left to the
Because price cannot move in one direction forever, price will turn
around at some point. Currency pairs that are overbought or oversold
sometimes have a greater chance of reversing direction, but could remain
overbought or oversold for a very long time. So we need to use an
oscillator to help us determine when a reversal is actually occurring.
But, we must be patient before we enter our trades, because sometimes
the RSI can stay overbought or oversold for quite awhile. The worst
thing we can do is try to pick a top or a bottom of a strong move that
continues to move into further overbought or oversold territory. So we
must wait until the RSI crosses back under 70 or crosses back above 30.
When the RSI falls below 30, same rules apply. We want to wait until the RSI crosses back above 30 before we place a buy trade.
Putting RSI to Work
EUR/USD Intra-Day Fundamentals: German Ifo Business Climate and range price movement
2017-08-25 09:00 GMT | [EUR - German Ifo Business Climate]
if actual > forecast (or previous one) = good for currency (for EUR in our case)
[EUR - German Ifo Business Climate] = Level of a composite index based on surveyed manufacturers, builders, wholesalers, and retailers.
EUR/USD M5: range price movement by German Ifo Business Climate news event
Intra-Day Fundamentals - EUR/USD and Dollar Index: Fed Chair Yellen Speech
2017-08-25 15:00 GMT | [USD - Fed Chair Yellen Speech]
[USD - Fed Chair Yellen Speech] = Speech about financial stability at the Federal Reserve Bank of Kansas City Economic Symposium, in Jackson Hole.
From marketwatch article :
EUR/USD M5: range price movement by Fed Chair Yellen Speech news events
Dollar Index M5: range price movement by Fed Chair Yellen Speech news events
Weekly Outlook: 2017, August 27 - September 03 (based on the article)
The US dollar was on the back foot across the board in the last full week of August. An update on US GDP, consumer confidence, and the all-important Non-Farm Payrolls stand out.