Press review - page 611

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GBP/JPY - bearish ranging; 143.19 is the key (based on the article)

GBPJPY daily chart by Metatrader 5

  • "This week started off with an increased slate of worry as financial markets gripped for the possibility of another summer of political volatility out of Europe. This helped to bring considerable strength into the Japanese Yen, helping pairs like EUR/JPY and GBP/JPY fall down to fresh 2018 lows. "
  • "In GBP/JPY, the selling was especially noticeable, as both a weak British Pound and a strong Japanese Yen contributed to a rather quick and heavy move. The British Pound has been weak for well-over a month now, with a bearish reversal starting in mid-April that hasn't yet reversed. We looked at short-side continuation last week when GBP/JPY had bounced up to a prior area of support around 147.03. That led into the quick bearish continuation move mentioned above, which soon took out both targets at 146.00 and 145.00; and prices continued to sell-off to as low as 143.20."

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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:

 

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

USDJPY chart by Metatrader 5

  • "USDJPY: Retail trader data shows 52.0% of traders are net-long with the ratio of traders long to short at 1.08 to 1. In fact, traders have remained net-long since May 23 when USDJPY traded near 109.258; price has moved 0.5% lower since then. The number of traders net-long is 2.3% lower than yesterday and 7.0% higher from last week, while the number of traders net-short is 18.9% higher than yesterday and 6.8% higher from last week. "
  • "We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USDJPY prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed USDJPY trading bias."

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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:

USD/JPY: Net-Short Positions Up 18.9% Since Yesterday
USD/JPY: Net-Short Positions Up 18.9% Since Yesterday
  • Abdullah AlAmoudi
  • www.dailyfx.com
USDJPY: Retail trader data shows 52.0% of traders are net-long with the ratio of traders long to short at 1.08 to 1. In fact, traders have remained net-long since May 23 when USDJPY traded near 109.258; price has moved 0.5% lower since then. The number of traders net-long is 2.3% lower than yesterday and 7.0% higher from last week, while the...
 

S&P 500 - daily narrow ranging near bearish reversal area (based on the article)

S&P 500 daily chart by Metatrader 5

  • "Since bottoming at the beginning of April the S&P 500 has been the process of slowly (and sloppily) putting together a string of higher-highs and higher-lows, with the second higher-low coming at the all-important confluence between the 200-day and Feb 2016 trend-line."
  • "Overall, the market has a semi-positive feel to it at the moment with a couple of recent gap-downs not leading to follow-through selling, as buyers are showing a willingness to step in on weakness. The drop on Tuesday saw a successful retest of the trend-line running off the record high before Wednesdays surge."
  • "A breakout above 2742 will clear way for a potential move to the March high just over 2800, and yet another higher-high since early April. On the flip-side, to keep the tone positive, the weekly low at 2676 and trend-line off the highs need to hold."

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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:

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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 

S&P 500 & Dow Technical Analysis – Consolidating or Ready to Roll Over?
S&P 500 & Dow Technical Analysis – Consolidating or Ready to Roll Over?
  • Paul Robinson
  • www.dailyfx.com
Last week, the S&P 500 broke out above the trend-line extending down off the record high, this week has thus far and probably will continue through the end of today, be nothing more than a quiet week of chopping sideways. The chop sideways following a strong push off the 2016 trend-line/200-day is viewed as healthy as long as we don’t see a...
 

EUR/USD - testing last month low at 1.1510 for the weekly bearish reversal (based on the article)

EURUSD weekly chart by Metatrader 5

  • "On the weekly chart, the euro tried to put in a modestly bullish reversal bar, but it's certainly not of the high-conviction variety. Perhaps we will see a bit of early-week weakness in the euro, but as long as last week's low at 11510 holds, then the outlook is neutral at worst, tentatively bullish for a recovery bounce."
  • "A break below support will be reason for abandoning a bullish bias and working with the continued trend lower. It's a bit of a tricky spot down here, but, again, there is a solid floor at the euro's feet to work with in the days ahead. 
    Resistance by way of a few lows from last year will need to be cleared on the daily time-frame to garner top-side momentum; over 11760 should be enough to bolster buyers into pushing EUR/USD higher."

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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:

EUR/USD Weekly Technical Report – Euro May Have Put In a Low (For Now)
EUR/USD Weekly Technical Report – Euro May Have Put In a Low (For Now)
  • Paul Robinson
  • www.dailyfx.com
The precipitous decline in the euro may have come to an end, at least for now. After briefly declining beneath the November low into levels carved out during 2015/16, buyers stepped in aggressively on Wednesday. A trend-line rising up from January 2017 is also in confluence with long-term price support. On the weekly chart, the euro tried to...
 

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

2018-05-04 02:30 GMT | [AUD - Retail Sales]

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

[USD - PPI] = Change in the price of finished goods and services sold by producers.

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From official report :

  • "The trend estimate rose 0.3% in April 2018. This follows a rise of 0.3% in March 2018 and a rise of 0.3% in February 2018."
  • "The seasonally adjusted estimate rose 0.4% in April 2018. This follows a relatively unchanged result (0.0%) in March 2018 and a rise of 0.6% in February 2018."

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AUD/USD M5: range price movement by Australia Retail Sales news event 

AUDUSD chart by Metatrader 5

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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, Apr 2018
  • www.abs.gov.au
APRIL KEY FIGURES APRIL KEY POINTS CURRENT PRICES The trend estimate rose 0.3% in April 2018. This follows a rise of 0.3% in March 2018 and a rise of 0.3% in February 2018. The seasonally adjusted estimate rose 0.4% in April 2018. This follows a relatively unchanged result (0.0%) in March 2018 and a rise of 0.6% in February 2018. In trend...
 

Crypto News - Bitcoin: daily bearish, intra-day ranging (based on the article)

Bitcoin chart by Metatrader 5

Bitcoin chart by Metatrader 5

  • "Ethereum spilled hard from the aforementioned head-and-shoulders pattern, but has since put in a sizable recovery. The rally, though, has a solid level of resistance in play, a familiar area from some time ago. Coupling the longer-term area on the daily, turning to the 4-hr there is price resistance in confluence with a trend-line running off the peak last month. ETH/USD is currently sneaking below a minor trend-line off the late-month low. Looking for a continuation lower as the week progresses."
  • "On the 4-hr, Bitcoin is posting a rising wedge within the context of a downtrend. This has BTC/USD positioned to make a move lower, but traders will want to see it roll down out of the pattern first, as there is still a chance it pops to the top-side. Potentially stopping downside momentum is a trend-line dating back to February, which may be apart of a maturing wedge in place since then. The pattern may want to further itself along towards the apex of the pattern, which, broadly speaking, would be a welcomed event as the pattern could down the line lead to a very strong move. For now, leaning bearish and will continue to monitor. Keep an eye on the daily trend-line on weakness – a hold may give us the larger pattern at some point, while a break could lead down towards 6400."

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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 Hits Monthly Low As Downward Trend Continues
Bitcoin Hits Monthly Low As Downward Trend Continues
  • 2018.05.28
  • www.rttnews.com
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.
 

Crude Oil - possible daily correction to the bearish reversal (based on the article)

Daily price is above Ichimoku cloud for the secondary ranging within the promary bullish market condition: the price is testing support level at 73.80 for the correction to the bearish reversal to be started.

Brent Crude Oil daily chart by Metatrader 5

  • "Crude has fallen nearly 12% with the latest move lower generated from the news that the US has ‘quietly’ requested that the Saudis and other OPEC producers to hike production by some 1mm bpd. There remains little else aside from the non-verified headline. However, this makes the June 22 OPEC meeting all the more interesting."
  • "Traders are continuing to watch the US Dollar, which continues to pull-back from YTD highs of 94.60, but remains above the 26-day midpoint of 92.84."
  • "In other news, Central Asia’s largest oil producer, Kazakhstan is said to validate the view from Saudi Arabia and Russia to start scaling back the production curb program. Kazakhstan’s Energy Minister said in an interview that “the OPEC+ deal may be reconsidered toward softening” followed by “there is almost balance in the oil market.” All this points to a lack of tightness in the market that is likely concerning to bulls."

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The 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 Gross Domestic Product and range price movement 

2018-06-06 02:30 GMT | [AUD - GDP]

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

[AUD - GDP] = Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry.

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From official report :

  • "The Australian economy grew by 1.0% in seasonally adjusted chain volume terms in the March quarter."
  • "Gross operating surplus increased 4.0%."

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

AUD/USD asctrend-ichimoku chart by Metatrader 5

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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: 

5206.0 - Australian National Accounts: National Income, Expenditure and Product, Mar 2018
  • www.abs.gov.au
MARCH KEY FIGURES MARCH KEY POINTS GDP SUMMARY The Australian economy grew by 1.0% in seasonally adjusted chain volume terms in the March quarter. Exports of goods and services contributed 0.5 percentage points to GDP growth. Compensation of employees increased 1.2%. Gross operating surplus increased 4.0%. The Terms of trade rose 3.3...
 

Crypto News - Bitcoin: daily bearish reversal; 7,055 is the key (based on the article)

Daily price broke Ichimoku cloud to below for the primary bearish reversal: the price is testing 7,055 support level for the bearish trend to be continuing.


  • "Google Trends shows that the interest over time for "Bitcoin" has dropped to 10 in June this year from 100 in December 2017. The latest number is lesser than the interest shown during the corresponding period last year. Fom the start of this year, the search for the term "Bitcoin" has dropped 75 percent."
  • "Interestingly, the value of Bitcoin has more than halved from the beginning of the year, trading now at $7626 on Coinbase."
  • "A new report by the International Monetary Fund (IMF) says crypto assets may one day reduce demand for central bank money as they will eventually be more widely adopted and fulfill more functions of money in some regions or private e-commerce networks. This is the second time in a year that the global financial watchdog is warning central bankers not to underrate the potential of crypto assets in the monetary system. The study notes that the global financial crisis and bank bailouts have "renewed skepticism in some quarters" of the world and there's a possibility that digital assets can affect the traditional global monetary policies."

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


Cryptocurrency Daily Roundup - May 22
Cryptocurrency Daily Roundup - May 22
  • 2018.05.22
  • www.rttnews.com
Cryptocurrencies are trending lower for a second straight day, as sentiment was damped by some dismal predictions regarding the future for the top cryptocurrency, Bitcoin.
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