The weekly price is on bearish breakdown which was started in the beginning of october this year on the secondary ranging way: the price broke Ichimoku cloud to below to be reversed from the ranging bullish to the primary bearish market condition. For now, the price is on testing 1.0568 support level to below for the Fibo level at 1.0517 as a nearest daily/weekly bearish target.
price is located within the following support/resistance levels:
line is below Kijun-sen line of Ichimoku indicator for
the primary bearish condition to be continuing, and Chinkou
Span line is below the price which is indicating the primary bearish trend in the future for this pair with the good volatility. By the way, Absolute Strength indicator is evaluating the future price movement as the ranging bearish so we can expect the ranging market condition in the bearish area of the chart for example.
TREND: ranging breakdown
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2016.11.26 12:30
Weekly Outlook for EUR/USD: 2016, November 27 - December 04 (based on the article)
EUR/USD dipped to new lows but did not experience the magnitude of the previous weeks. Fresh inflation figures stand out as we enter the final month of 2016.
Market Condition Evaluation based on standard indicators in Metatrader 5
Sergey Golubev, 2016.11.28 08:54
Some people asked about indicators I am using for my market condition analysis (MT5) so please find indicators and template to download from the following post:
Market condition setup (indicators and template) is here
Sergey Golubev, 2016.11.28 12:34
Weekly Review Fundamentals: Non-Farm Payrolls, GDP, CB Consumer Confidence and OPEC Meetings (based on the article)
EURUSD daily price is located below Ichimoku cloud in the bearish area of the chart. The price is on ranging within very narrow s/r levels waiting for the primary bearish trend to be resumed or for the secondary rally to be started.
If the daily price breaks 1.0517 support level to below on close bar so the bearish trend will be resumed.If the price breaks 1.0657 resistance level to above on close daily bar so the local uptrend as the secondary rally within the primary bearish market condition will be started.If not so the price will be on bearish ranging withn the levels waiting for direction.
Sergey Golubev, 2016.11.28 15:30
Intra-Day Fundamentals - EUR/USD, USD/CNH and US Dollar Index: ECB President Draghi Speech2016-11-28 14:00 GMT | [EUR - ECB President Draghi Speaks]
[EUR - ECB President Draghi Speaks] = Speech about the European Central Bank's perspective on economic and monetary
developments and the consequences of the Brexit before the European
Parliament's Economic Committee, in Brussels.
From official release:
EUR/USD M5: 14 pips range price movement by ECB President Draghi Speech news events
USD/CNH M5: 29 pips range price movement by ECB President Draghi Speech news events
US Dollar Index M5: range price movement by ECB President Draghi Speech news events
Sergey Golubev, 2016.11.29 11:21
Technical Targets for EUR/USD by United Overseas Bank (based on the article)
EUR/USD: ranging within 1.0518/1.0684 levels.
is located below 100 period SMA (100 SMA) and 200 period SMA (200 SMA) in the bearish area of the chart for the ranging within the following key support/resistance levels:
the price breaks 1.0684 level to above so the local uptrend as the secondary rally within the primary bearish trend will be started, , and if the price breaks 1.0518 suppoer level to below so the
bearish trend will be resumed.
is located below 100/200 SMA for the bearish market condition with the
ranging within 1.0518/1.0684 levels waiting for the bearish trend to be continuing or for the rally to be started.
United Overseas Bank is considering the EUR/USD price to be
on ranging market condition within the primary bearish trend.
"We just turned neutral on EUR yesterday and there is no change to the
view. The current movement is viewed as part of a consolidation phase,
likely within a 1.0550/1.0750 range."
Sergey Golubev, 2016.11.29 15:06
Intra-Day Fundamentals - EUR/USD and USD/CAD: U.S. Gross Domestic Product2016-11-29 13:30 GMT | [USD - GDP]
if actual > forecast (or previous one) = good for currency (for USD in our case)
[USD - GDP] = Annualized change in the value of all goods and services produced by the economy.
EUR/USD M5: 30 pips range price movement by U.S. Gross Domestic Product news events
USD/CAD M5: 33 pips range price movement by U.S. Gross Domestic Product news events
Sergey Golubev, 2016.11.29 18:23
Intra-Day Fundamentals - EUR/USD, GOLD (XAU/USD) and Dax Index: The Conference Board Consumer Confidence2016-11-29 15:00 GMT | [USD - CB Consumer Confidence]
[USD - CB Consumer Confidence] = Level of a composite index based on surveyed households.
From official report:
"The Conference Board Consumer Confidence Index®, which had declined in
October, increased significantly in November. The Index now stands at
107.1 (1985=100), up from 100.8 in October. The Present Situation Index
increased from 123.1 to 130.3, while the Expectations Index improved
from 86.0 last month to 91.7."
EUR/USD M5: 37 pips range price movement by CB Consumer Confidence news events
XAU/USD M5: range pips price movement by CB Consumer Confidence news events
Dax Index M5: range pips price movement by CB Consumer Confidence news events
Sergey Golubev, 2016.11.30 14:02
EUR/USD Intra-Day Fundamentals: ECB President Draghi Speaks and 11 pips range price movement
2016-11-30 12:45 GMT | [EUR - ECB President Draghi Speaks]
[EUR - ECB President Draghi Speaks] = Speech about the future of Europe at the University of Deusto Business School, in Madrid.==========
EUR/USD M5: 11 pips range price movement by ECB President Draghi Speaks news event
Sergey Golubev, 2016.12.01 16:25
Intra-Day Fundamentals - EUR/USD, USD/CAD and USD/JPY: ISM Purchasing Managers' Index2016-11-29 15:00 GMT | [USD - ISM Manufacturing PMI]
[USD - ISM Manufacturing PMI] = Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry.
"The November PMI® registered 53.2
percent, an increase of 1.3 percentage points from the October reading
of 51.9 percent. The New Orders Index registered 53 percent, an increase
of 0.9 percentage point from the October reading of 52.1 percent. The
Production Index registered 56 percent, 1.4 percentage points higher
than the October reading of 54.6 percent. The Employment Index
registered 52.3 percent, a decrease of 0.6 percentage point from the
October reading of 52.9 percent. Inventories of raw materials registered
49 percent, an increase of 1.5 percentage points from the October
reading of 47.5 percent. The Prices Index registered 54.5 percent in
November, the same reading as in October, indicating higher raw
materials prices for the ninth consecutive month. Comments from the
panel cite increasing demand, some tightness in the labor market and
plans to reduce inventory by the end of the year."
EUR/USD M5: 21 pips range price movement by ISM Manufacturing PMI news events
USD/CAD M5: 30 pips range price movement by ISM Manufacturing PMI news events
USD/JPY M5: 25 pips range price movement by ISM Manufacturing PMI news events