Press review - page 652

Sergey Golubev
Moderator
113410
Sergey Golubev  

Crude Oil - bearish ranging; 65.41/67.63 are the key levels for the bullish reversal; 55.86 is the key level for the bearish trend to be resumed (based on the article)

Brent Crude Oil daily Ichimoku chart by Metatrader 5

  • "Recent news suggests that oil producers are attempting to increase production levels after failing to attempt to push prices higher by cutting production levels. Globally, oil producers want to see oil prices rise above $65 ppb in an effort to support profit and production cost expectations. The real issue for the nation/states that rely on oil production/sales is that the global economy may not cooperate with their expectations over the next 24+ months."
  • "Our researchers believe Crude Oil could become very volatile as price nears the apex of the Pennant/Flag formation that is setting up. This Daily chart highlights the attempted “scouting party” price rotation above the price resistance channel. The news over the past holiday weekend suggests the global economy may not see any real bump in activity over the next 12+ months and we believe this aligns with our longer-term research that Oil should target the sub $40 price level before the end of 2019 and potentially fall to levels below $30 in early 2020."

Crude Oil weekly Ichimoku chart by Metatrader 5

  • "We believe the key to all of this price rotation is the $50.50 level and what price does over the next 30 to 60+ days. There is a potential that price may attempt a brief upside move over this span of time, but the true intent of price is to move lower based on our ADL price modeling system. Therefore, we believe the downside potential is the most opportunistic for traders. The next price target based on our Fibonacci bearish price trigger level is the $45 price range."
  • "This move could take place quickly, over the next 2 to 3 weeks on a breakdown move, or over many months. Watch the $50.50 level as that is the key. If the price falls to any level below $50.50, then we could be moving towards the $45 level or even the $40 on a big move related to global economic expectations. Otherwise, expect the price to move towards the $50.50 level over the next few weeks as this support level is key to all future moves. As we wait for the next leg to start to move prices lower, pay attention to any upside price activity as that may present a very clear entry point for skilled technical traders."

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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:

Crude Oil Pummeled, Where Is It Going Next?
Crude Oil Pummeled, Where Is It Going Next?
  • www.thetechnicaltraders.com
On Tuesday, July 2, 2019, the price of Crude Oil fell over -4.5% on continued expectations of global economic weakness and supply gluts. We found this interview rather interesting because it attempts to suggest a narrative that ignores Iranian issues while pushing the supply side fundamental for the current price decline (Source: CNBC). Back on...
Sergey Golubev
Moderator
113410
Sergey Golubev  

S&P 500 - daily bullish breakout; 2,985 and 3,026 are the keys for the bullish trend to be continuing (based on the article)

S&P 500 daily Ichimoku chart by Metatrader 5

  • "Bulls appear to be taking control with the index making a topside breach of the 2940-60 resistance zone. The S&P 500 looks to be making a move to test the 3000 level with the RSI providing confirmation of an upside bias having hit a 5-week peak. For now, the focus will be on how the market responds to any modest pullbacks. Initial support is situated at 2968 (76.4% Fibonacci retracement), while the 50DMA resides at 2937. If indeed the index posts a closing break above 3000, this implies a potential move back towards record highs again."

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The charts were made with Ichimoku market condition setup (MT5) from this post (free to download for indicators and template) as well as the following indicators from CodeBase:

S&P 500 & DAX Technical Forecast
S&P 500 & DAX Technical Forecast
  • Justin McQueen
  • www.dailyfx.com
Bulls appear to be taking control with the index making a topside breach of the 2940-60 resistance zone. The S&P 500 looks to be making a move to test the 3000 level with the RSI providing confirmation of an upside bias having hit a 5-week peak. For now, the focus will be on how the market responds to any modest pullbacks. Initial support is...
Sergey Golubev
Moderator
113410
Sergey Golubev  

DAX Index - possible breakout with the daily bullish reversal (based on  the article)

Dax Index daily chart by Metatrader 5

  • "In recent sessions the DAX continued to push higher having made a break above the 50 and 100DMAs. Subsequently, this confirms that the index looks to have bottomed out at 11500 in the interim. That said, with the 50% Fibonacci support holding at 11887, eyes are now for a test of 12291. As a reminder, focus will be on the ECB in the next, where the central bank is expected to unveil a new round of stimulus measures. However, with the markets setting the bar high for a dovish surprise, there is a risk of potential disappointment."

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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

S&P 500 & DAX Technical Forecast
S&P 500 & DAX Technical Forecast
  • Justin McQueen
  • www.dailyfx.com
Bulls appear to be taking control with the index making a topside breach of the 2940-60 resistance zone. The S&P 500 looks to be making a move to test the 3000 level with the RSI providing confirmation of an upside bias having hit a 5-week peak. For now, the focus will be on how the market responds to any modest pullbacks. Initial support is...
Sergey Golubev
Moderator
113410
Sergey Golubev  

AUD/USD - bouncing from 0.6687 to above for the possible bullish reversal; 0.69 is the key(based on the article)

AUDUSD daily chart by Metatrader 5

  • "AUDUSD is rising hard off the recent low, stringing together multiple positive days. It’s the strongest bounce since June, but like the first month of summer the initial push higher may prove to be short-lived. The key will be how momentum continues in the days ahead."
  • "There is an immediate threat to the rally via the June low, and to a lesser degree the May low. A reversal in the vicinity of 6840/75 could present traders with an opportunity to short for a drop back towards the recent lows under 6700. Stops set above any swing-high that develops once a turn down begins."

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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:

Weekly AUDUSD Technical Outlook: Be Wary of the Bounce
Weekly AUDUSD Technical Outlook: Be Wary of the Bounce
  • Paul Robinson
  • www.dailyfx.com
AUDUSD is rising hard off the recent low, stringing together multiple positive days. It’s the strongest bounce since June, but like the first month of summer the initial push higher may prove to be short-lived. The key will be how momentum continues in the days ahead. There is an immediate threat to the rally via the June low, and to a lesser...
Sergey Golubev
Moderator
113410
Sergey Golubev  

U.S. Commercial Crude Oil Inventories news event: breakdown; 55.86 is the key

2019-09-11 14:30 GMT | [USD - Crude Oil Inventories]

  • past data is -4.8M
  • forecast data is -2.7M
  • actual data is -6.9M according to the latest press release

[USD - Crude Oil Inventories] = Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

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"U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.9 million barrels from the previous week."

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Crude Oil: range price movement by  U.S. Commercial Crude Oil Inventories news events 

Crude Oil: range price movement by  U.S. Commercial Crude Oil Inventories news events

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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:

Sergey Golubev
Moderator
113410
Sergey Golubev  

EUR/USD Intra-Day Fundamentals: ECB Interest Rates, Monetary Policy Statement and range price movement 

2019-09-12 11:45 GMT | [EUR - Main Refinancing Rate]

  • past data is 0.00%
  • forecast data is 0.00%
  • actual data is 0.00% according to the latest press release 
if actual > forecast (or previous value) = good for currency (for EUR in our case)

[EUR - Main Refinancing Rate] = Interest rate on the main refinancing operations that provide the bulk of liquidity to the banking system.

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From official report :

  • "The interest rate on the deposit facility will be decreased by 10 basis points to -0.50%. The interest rate on the main refinancing operations and the rate on the marginal lending facility will remain unchanged at their current levels of 0.00% and 0.25% respectively. The Governing Council now expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, 2% within its projection horizon, and such convergence has been consistently reflected in underlying inflation dynamics."

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EUR/USD: range price movement by ECB  Interest Rates news event

EUR/USD: range price movement by ECB  Interest Rates news event

EUR/USD: range price movement by ECB  Interest Rates news event

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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:

Monetary policy decisions
Monetary policy decisions
  • European Central Bank
  • www.ecb.europa.eu
At today’s meeting the Governing Council of the European Central Bank (ECB) decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively. The Governing Council expects the key ECB interest rates to...
Sergey Golubev
Moderator
113410
Sergey Golubev  

EUR/USD - bearish breakdown to oversold levels; 1.0925 is the key (based on  the article)

EUR/USD weekly chart by Metatrader 5

  • "The Euro seesawed but ultimately found its way higher even as the ECB reintroduced quantitative easing alongside an interest rate cut that brought its target lending rate deeper into negative territory. Imperviousness to typically negative news flow often speaks to potent underlying strength, but the single currency’s advance also stopped conspicuously short of breaking its near-term downtrend."
  • "Prices now stand squarely at resistance guiding them lower since late June. That barrier is reinforced by former support in the 1.1069-1.1116 area, now acting as an upside hurdle. Breaking above that on a daily closing basis would neutralize near-term selling pressure and set the stage for a move higher to challenge the 1.12 figure. On the downside, the September 3 low at 1.0926 marks the lower bound of a choppy range."

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The chart was made on MT5 with standard indicators of Metatrader 5 together with the following indicator from CodeBase

EUR/USD Technical Analysis: Euro Up, Downtrend Intact After ECB
EUR/USD Technical Analysis: Euro Up, Downtrend Intact After ECB
  • Ilya Spivak
  • www.dailyfx.com
that brought its target lending rate deeper into negative territory. Imperviousness to typically negative news flow often speaks to potent underlying strength, but the single currency’s advance also stopped conspicuously short of breaking its near-term downtrend. Prices now stand squarely at resistance guiding them lower since late June. That...
Sergey Golubev
Moderator
113410
Sergey Golubev  

GBP/USD - daily bullish breakout; 1.2576 is the key (based on the article)

GBP/USD daily Brainwashing chart by Metatrader 5

  • "The Pound rally versus the Dollar paused for much of last week, but then continued to extend on Friday. This puts GBPUSD in position to challenge the underside of the trendline running up from the October 2016 flash-crash that also happens to connect with the January flash-crash low. It could very well act as a formidable line of resistance, but the thinking is it will only be a minor speedbump on the way to higher levels.Looking beyond the 2016 trend-line, the focus will become placed on confluent resistance via the trendline off the 2018 high that runs over the March/May peaks and the declining 200-day MA."
  • "Heading into next week traders are left at a bit of a crossroads as fresh longs don't hold a lot of appeal at this juncture without traders running the risk of getting caught chasing.But existing long positions may want to be given a little wiggle room to see if momentum can continue taking price higher. Shorts don't have yet the bearish price action needed to warrant astrong stance. A small digestion period around the 2016 trendline could give a good look for would-be longs. That could change, however, if a hard rejection develops at resistance, thus giving shorts a shot at lower prices. Bottom line, in wait-and-see mode at the moment, but the landscape could change quickly with Brexit headlines a constant threat."

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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
British Pound Weekly Technical Outlook: GBPUSD May Run Further
British Pound Weekly Technical Outlook: GBPUSD May Run Further
  • Paul Robinson
  • www.dailyfx.com
Cable has put together a decent rally off the recent low, and there may be more to come in the week ahead with eyes on a couple of long-term trend targets.
Sergey Golubev
Moderator
113410
Sergey Golubev  
Stocks This Week: Sell Short Apple; 226.33 is the key (based on the article)


Apple share chart by Metatrader 5

  • "There is a projected turning point on the 16th. The market has been rising, and the index is up against its July 26th all-time high. We can expect a pullback."
  • "The Apple weekly cycle turns down this week. Three of four sell signals have proven profitable in the last year. The stock is overbought after its recent run. The shares are likely to retreat to $209-$213 in the next week."

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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:

Stocks This Week: Sell Short Apple And Buy Seagate Technology
Stocks This Week: Sell Short Apple And Buy Seagate Technology
  • 2019.09.16
  • Bill Sarubbi
  • www.forbes.com
<div _ngcontent-c15="" innerhtml=" Photocredit: Getty Getty There is a projected turning point on the 16th. The market has been rising, and the index is up against its July 26th all-time high. We can expect a pullback. The market is unlikely to make a new low, but let us look at the seasonal influences: From 1980, the index has fallen 67...
Sergey Golubev
Moderator
113410
Sergey Golubev  
Stocks This Week: Buy Seagate Technology; 57.01 is the key (based on the article)


Seagate share price by Metatrader 5

  • "The weekly cycle for Seagate Technology turns up on the 16th. There have been nine buy signals in the last twelve months and seven have been effective. This cycle remains in an uptrend through October. Relative strength has been strong, and weekly momentum has traced out a series of higher lows. The share price is likely to rise closer to the prior high at $60."

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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:

Stocks This Week: Sell Short Apple And Buy Seagate Technology
Stocks This Week: Sell Short Apple And Buy Seagate Technology
  • 2019.09.16
  • Bill Sarubbi
  • www.forbes.com
<div _ngcontent-c15="" innerhtml=" Photocredit: Getty Getty There is a projected turning point on the 16th. The market has been rising, and the index is up against its July 26th all-time high. We can expect a pullback. The market is unlikely to make a new low, but let us look at the seasonal influences: From 1980, the index has fallen 67...