is above Ichimoku cloud in the bullish area of the chart. The price is on bullish breakout which was started in the beginning of the last week with 1.3524 resistance level to be tested above for 1.3551 bullish target to re-enter for the bullish breakout to be continuing. Chinkou Span line of Ichimoku indicator is located above the price indicating the future trend as the bullish, Absolute Strength indicator is evaluating the future trend as the bullish breakout, and Trend Strength indicatorn is estimating the ranging condition to be started in the future.
By the way, Tenkan Sen line (moving average of the highest high and
lowest low over the last 9 trading days. (Highest high + Lowest low) / 2
over the last 9 trading days) was crossed with Kijun Sen line (moving average
of the highest high and lowest low over the last 26 trading days.
(Highest high + Lowest low) / 2 over the last 26 trading days) two weeks ago for the bullish trend to be continuing with good breakout possibility for the week.
If D1 price breaks 1.3263 support level on close bar so the local downtrend as the secondary correction within the primary bullish trend will be started.If D1 price breaks 1.2999
support level on close bar so we may see the reversal of the price
movement from the ranging bullish to the primary bearish market
condition. If D1 price breaks 1.3551 resistance level on close bar from below to above so the primary bullish trend will be continuing.If not so the price will be on bullish ranging within the levels.
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2016.11.12 08:19
Weekly Outlook: 2016, November 13 - November 20 (based on the article)
GDP data from Japan and Germany, Mario Draghi’s speech, Inflation figure from the UK and the US, Employment data from the UK, Australia and the US, US Building Permits, Philly Fed Manufacturing Index and Janet Yellen’s testimony before the Joint Economic Committee. These are the major events on forex calendar.
Sergey Golubev, 2016.11.15 09:01
Intra-Day Fundamentals - EUR/USD, USD/CAD and AUD/USD : German Gross Domestic Product2016-11-15 07:00 GMT | [EUR - GDP]
if actual > forecast (or previous one) = good for currency (for EUR in our case)
[EUR - GDP] = Change in the inflation-adjusted value of all goods and services produced by the economy.
From official report:
"German economic growth is losing some momentum. In the third quarter of
2016, the gross domestic product (GDP) rose 0.2% on the second quarter
of 2016 after adjustment for price, seasonal and calendar variations;
this is reported by the Federal Statistical Office (Destatis). In the
first half of the year, the GDP had increased somewhat more, by 0.4% in the second quarter and 0.7% in the first quarter."
EUR/USD M5: 30 pips range price movement by German Gross Domestic Product news events
USD/CAD M5: 25 pips range price movement by German Gross Domestic Product news events
AUD/USD M5: 28 pips range price movement by German Gross Domestic Product news events
Sergey Golubev, 2016.11.15 15:01
if actual > forecast (or previous one) = good for currency (for USD in our case)
[USD - Retail Sales] = Change in the total value of sales at the retail level.
From Market Watch article: U.S. retail sales post biggest back-to-back sales since 2014
"Retail sales jumped 0.8% last month after a revised 1% gain in
September, the government said Tuesday. Economists surveyed by
MarketWatch had forecast a seasonally adjusted 0.7% advance."
EUR/USD M5: 30 pips range price movement by U.S. Retail Sales news events
USD/CAD M5: 29 pips range price movement by U.S. Retail Sales news events
GOLD (XAU/USD) M5: range price movement by U.S. Retail Sales news events
Sergey Golubev, 2016.11.18 10:48
Trading News Events: Canada Consumer Price Index (adapted from dailyfx)
Bullish CAD Trade: Canada CPI Picks Up for Second Consecutive Month
Daily price is
on bullish ranging condition for 1.3551 resistance level to be broken on close daily bar for the daily bullish trend to be resumed. Alternative, if the price breaks 1.3399 support level to below on close bar so the local downtrend as the secondary correction within the primary bullish trend will be started.
USD/CAD M5: 24 pips range price movement by Canada Consumer Price Index news events