Press review - page 646

Sergey Golubev
Moderator
111943
Sergey Golubev  

Crude Oil - ranging on the bearish zone (based on the article)

Crude Oil by Metatrader 5

Crude Oil by Metatrader 5

  • "The oil market is providing little cheer for the bulls these days. At the mercy of an uncertain global outlook, U.S. President Donald Trump's Twitter account, China-U.S. trade tensions, macroeconomic kerfuffle in Europe and all else in between, Brent – the global proxy oil futures benchmark – remains in technical backwardation six-month out, i.e. the current price is trading at a premium to forward prices. But examine closely, and you will find that the premium itself has narrowed to less than $2 per barrel. It barely stayed above a dollar on Tuesday (July 2) at the conclusion of the Organization of Petroleum Exporting Countries' (OPEC) twice-delayed ministers' meeting - with their 10 non-OPEC Russian-led counterparts to rollover collective output cuts of 1.2 million barrels per day (bpd) - before returning to around $1.50." 
  • "Yet for all of that, both Brent and West Texas Intermediate (WTI) remain range-bound unable to escape oscillation in the $50-70 per barrel range for most of this year, forward outlook remains one of lower prices. Park the supply-side argument for a minute, even though the U.S. – currently the world's largest crude oil producer – is pumping 12.3 million bpd, and is tipped to hit 13.4 million bpd by some forecasters."

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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
US oil production heading for another record year in 2019
US oil production heading for another record year in 2019
  • www.reachx.co
New records are expected both when the final numbers for May emerge and at the end of the year.
Sergey Golubev
Moderator
111943
Sergey Golubev  

GOLD (XAU/USD) - Gold is going parabolic; 1,438 is the key (based on  the article)

GOLD (XAU/USD) chart by Metatrader 5

  • "As a technical analyst since 1997 for Technical Traders Ltd., I believe gold is entering the final leg of an advanced upside price wave formation that will ultimately target $1650 to $1750 in the coming months."
  • "New research suggest Gold prices are about to enter an upside parabolic price phase. This happens when a price anomaly sets up and when price is dramatically undervalued compared to market dynamics, global concerns, and fundamentals. We believe this unique price anomaly has setup in Gold and that price will quickly advance to levels above $1550, then briefly stall, then rally further to levels near $1650 or $1750 before reaching our ADL predictive modeling objectives."
  • "This parabolic move may stall or end near $1650 to $1750, but this is just the beginning of an even bigger upside price move setting up as an advanced wave formation. Our research team are hard at work attempting to identify the future price legs, rotations and key support/resistance levels of these future price advances. Ultimately, we believe price levels in excess of $3750 are very likely if the global issue continue to build and start to unfold. Yet we don't have any time/date specific targets for these levels yet, as that is an extreme level I’m sure you agree with."

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

Gold Forecast: Gold Is Going Parabolic And Which Way Up Or Down? | Gold-Eagle News
Gold Forecast: Gold Is Going Parabolic And Which Way Up Or Down? | Gold-Eagle News
  • news.gold-eagle.com
As a technical analyst since 1997 for Technical Traders Ltd., I believe gold is entering the final leg of an advanced upside price wave formation that will ultimately target $1650 to $1750 in the coming months. Many of you may recall this chart from our October 2018 research that we posted in on Gold-Eagle.com that suggested a rally to levels...
Sergey Golubev
Moderator
111943
Sergey Golubev  

Dow Jones Industrial Average - bullish trend to be resumed; 26,982 is the key (based on  the article)

Dow Jones Industrial Average chart by Metatrader 5

  • "The Dow Jones is narrowly beneath record levels after gapping lower at Friday’s open. Still, the Industrial Average mounted a recovery effort as the session progressed as it looked to retake the 26,945 level. In the week ahead, the Average will have to surmount the prior highs around 26,945 and Wednesday’s high of 26,972 if bulls are to continue the journey higher."
  • "On the other hand, the Dow Jones enjoys nearby support around 26,705 and subsequent trendline support slightly beneath. The ascending trendline from early 2019 was broken in May and June, but its influence on price cannot be denied – as evidenced on the 4-hour chart above."

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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

Dow Jones, DAX 30, FTSE 100 Technical Forecast
Dow Jones, DAX 30, FTSE 100 Technical Forecast
  • Peter Hanks
  • www.dailyfx.com
The Dow Jones is narrowly beneath record levels after gapping lower at Friday’s open. Still, the Industrial Average mounted a recovery effort as the session progressed as it looked to retake the 26,945 level. In the week ahead, the Average will have to surmount the prior highs around 26,945 and Wednesday’s high of 26,972 if bulls are to...
Sergey Golubev
Moderator
111943
Sergey Golubev  

DAX Index - weekly bullish breakout (based on the article)

DAX Index Ichimoku chart by Metatrader 5

  • "The DAX 30 continued its climb higher this week, remaining comfortably within its upward channel. The upper and lower bounds of the channel will look to serve as resistance and support respectively. Alongside the channel, the German Index will take note of horizontal levels at 12,740 – marking an area of confluence with the lower bound which together should stall attempted moves lower. To the topside, a horizontal trendline around 12,715 will mark an area of resistance that must be surpassed before the DAX can look to test the topside of the channel."

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The chart was made on weekly 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:

Dow Jones, DAX 30, FTSE 100 Technical Forecast
Dow Jones, DAX 30, FTSE 100 Technical Forecast
  • Peter Hanks
  • www.dailyfx.com
The Dow Jones is narrowly beneath record levels after gapping lower at Friday’s open. Still, the Industrial Average mounted a recovery effort as the session progressed as it looked to retake the 26,945 level. In the week ahead, the Average will have to surmount the prior highs around 26,945 and Wednesday’s high of 26,972 if bulls are to...
Sergey Golubev
Moderator
111943
Sergey Golubev  

EUR/USD - possible daily breakdown with the bearish reversal; 1.1207 is the key (based on  the article)

EUR/USD daily Ichimoku chart by Metatrader 5

  • "EUR/USD: Retail trader data shows 64.8% of traders are net-long with the ratio of traders long to short at 1.84 to 1. The number of traders net-long is 9.2% higher than yesterday and 58.3% higher from last week, while the number of traders net-short is 9.0% higher than yesterday and 32.0% lower from last week."

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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: Net-Long Positions increase by 58.3% from Last Week
EUR/USD: Net-Long Positions increase by 58.3% from Last Week
  • Tammy Da Costa
  • www.dailyfx.com
EUR/USD: Retail trader data shows 64.8% of traders are net-long with the ratio of traders long to short at 1.84 to 1. The number of traders net-long is 9.2% higher than yesterday and 58.3% higher from last week, while the number of traders net-short is 9.0% higher than yesterday and 32.0% lower from last week. To gain more insight in how we...
Sergey Golubev
Moderator
111943
Sergey Golubev  

AUD/USD - bearish trend to be started; 0.6831 is the key (based on  the article)

AUD/USD market condition charts by Metatrader 5

  • "The Australian Dollar tracked lower after a retest of support-turned-resistance at the bottom of a bearish Descending Triangle chart pattern, as expected. Prices attempted to recover after breaking counter-trend support and even managed to set a higher swing top, but the effort fizzled. A bearish Evening Star coupled with negative RSI divergence now reinforces the case for a reversal."
  • "From here, the next significant layer of support seems to be in the 0.6827-65 area, marked by recent attempts to challenge trend-defining support at the January 2016 low. Securing a break below that on a daily closing basis probably opens the door for a challenge of the 2019 spike low at 0.6744. The outermost layer of downward-sloping trend resistance is now at 0.7088."
  • "Zooming out to the weekly chart, overall technical positioning continues to suggest the AUDUSD downtrend started in early 2018 has resumed following a period of congestion. While the support at 0.6827 is yet to be broken, measuring the width of the Descending Triangle pattern defining the digestive period prior to breakdown implies a steeper decline to test the 0.67 figure."

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The chart was made on MT5 with standard indicators of Metatrader 5 as well as the following indicators from CodeBase:

AUDUSD Technical Analysis: Aussie Dollar Top May Be in Place
AUDUSD Technical Analysis: Aussie Dollar Top May Be in Place
  • Ilya Spivak
  • www.dailyfx.com
. Prices attempted to recover after breaking counter-trend support and even managed to set a higher swing top, but the effort fizzled. A bearish Evening Star coupled with negative RSI divergence now reinforces the case for a reversal. From here, the next significant layer of support seems to be in the 0.6827-65 area, marked by recent attempts...
Sergey Golubev
Moderator
111943
Sergey Golubev  

GBP/USD Intra-Day Fundamentals: U.K.  Gross Domestic Product (GDP) and range price movement  

2019-07-10 08:30 GMT | [GBP - GDP]

  • past data is -0.4%
  • forecast data is 0.3%
  • actual data is 0.3% according to the latest press release

if actual > forecast (or previous value) = good for currency (for GBP in our case)

[GBP - GDP] = Change in the total value of all goods and services produced by the economy.

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From official report :

  • "UK GDP grew by 0.3% in the three months to May 2019."
  • "Services and production contributed positively to rolling three-month growth in May 2019, while construction had no contribution."
  • "GDP grew by 0.3% in May 2019."

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GBP/USD: range price movement by U.K.  Gross Domestic Product (GDP) news event 

GBP/USD BrainTrading/AscTrend 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:

GDP monthly estimate, UK - Office for National Statistics
GDP monthly estimate, UK - Office for National Statistics
  • www.ons.gov.uk
Notes: Q1 refers to Quarter 1 (Jan to Mar), Q2 refers to Quarter 2 (Apr to June), Q3 refers to Quarter 3 (July to Sept), Q4 refers to Quarter 4 (Oct to Dec). Rolling three-month estimates are calculated by comparing GDP in a three-month period with GDP in the previous three-month period. For example, GDP in March to May compared with the...
Sergey Golubev
Moderator
111943
Sergey Golubev  

USD/JPY - bear market rally; 109 is the key (based on the article)

USD/JPY daily AscTrend chart by Metatrader 5

  • "The Japanese Yen has begun to gain again on the US Dollar once more, with the Federal Reserve’s apparent willingness to keep interest rate cuts on the table, despite last week’s good news from the labor market, providing the fundamental backdrop for this latest bout of Greenback weakness. 
    Technically, USDJPY’s short-term daily chart bias would appear to be to the downside too, if not quite conclusively yet. The pair is flirting with a break of a quite well-respected uptrend line which has so far market the bounce seen from the effective 2019 lows reached in late June. "
  • "Clearly a daily or weekly close below that line looks highly likely at this point and, unless Dollar bulls can reassert themselves, the base of the current trading range looks set for a revisit. That comes in at 108.80 and its hard to see any conclusive falls below that failing to retest the year’s low, probably quite quickly."
  • "The range top at 108.98 provides those Dollar bulls with their most obvious upside target, but they would probably need to consolidate in that region before they could dare to dream of retaking all of the sharp falls seen on May 31. The pair would need to rise back to 109.60 if it is to fully erase them. That looks like a tall order."

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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:

Japanese Yen Gains Put Downside USD/JPY Range Break On Cards
Japanese Yen Gains Put Downside USD/JPY Range Break On Cards
  • David Cottle
  • www.dailyfx.com
Technically, USDJPY’s short-term daily chart bias would appear to be to the downside too, if not quite conclusively yet. The pair is flirting with a break of a quite well-respected uptrend line which has so far market the bounce seen from the effective 2019 lows reached in late June. Clearly a daily or weekly close below that line looks highly...
Sergey Golubev
Moderator
111943
Sergey Golubev  

Crude Oil - ranging near bearish reversal (based on the article)

Crude Oil daily chart by Metatrader 5

  • "Crude oil prices climbed roughly 4.5% over the last 5 trading days as the commodity continues to edge higher. It now appears that crude oil has smashed through bearish downtrend resistance formed by the series of lower lows since late April after this past week’s healthy advance. Bullish momentum could be at risk, however, as the recent streak of gains runs into technical resistance."
  • "Crude oil prices currently sit slightly above $60.00 and just below technical resistance posed by the 38.2% Fibonacci retracement of the commodity’s trading range since printing its year-to-date high of $66.47 on April 23. While the short-term bullish uptrend line does look to provide a bit of buoyance to crude oil price action, this level of confluence threatens to keep further upside at bay. Yet, if crude oil bulls can top this zone, the door to $62.00 could open up quickly with prices possibly eyeing the 23.6% Fib as a next upside target."

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The chart was made on MT5 with standard indicators of Metatrader 5 together with following indicator:

Sergey Golubev
Moderator
111943
Sergey Golubev  

USD/CNH Intra-Day Fundamentals: China Gross Domestic Product (GDP) and range price movement 

2019-07-15 02:00 GMT | [CNY - GDP]

  • past data is 6.4%
  • forecast data is 6.2%
  • actual data is 6.2% according to the latest press release

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

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

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From caixinglobal article :

  • "China’s economy grew 6.2% year-on-year in the second quarter this year, down from 6.4% growth in the first quarter, official data showed Monday. The growth rate met the median forecast of a 6.2% gain for the period by economists polled by Bloomberg."

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USD/CNH D1: range price movement by China Gross Domestic Product news event 

USD/CNH D1: range price movement by China Gross Domestic Product 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: