D1 price: it was breakout on this timeframe on close bar together with full reversal from bearish to bullish market condition. If D1 price will break 0.8959 resistance so this breakout will be continuing.
H4 price is on triangle pattern breakout started on open bar for now and trying to break 0.8922 resistance level.
D1 price will break 0.8959 resistance level so the primary bullish will be continuing.If not so we may see the ranging market condition within primary bullish.
UPCOMING EVENTS (high/medium impacted news events which may be affected on USDCHF price movement for this coming week)
2014-05-19 07:00 GMT (or 09:00 MQ MT5 time) | [EUR - German Deutsche Bundesbank (Buba) President Weidmann Speech]
2014-05-20 06:00 GMT (or 08:00 MQ MT5 time) | [EUR - German PPI]
2014-05-20 16:30 GMT (or 18:30 MQ MT5 time) | [USD - FOMC Member Plosser Speech]
2014-05-20 17:00 GMT (or 19:00 MQ MT5 time) | [USD - FOMC Member Dudley Speech]
2014-05-21 15:30 GMT (or 17:30 MQ MT5 time) | [USD - Fed Chair Yellen Speech]
2014-05-21 18:00 GMT (or 20:00 MQ MT5 time) | [USD - FOMC Meeting Minutes]
2014-05-22 01:45 GMT (or 03:45 MQ MT5 time) | [CNY - HSBC Manufacturing PMI]
2014-05-22 14:00 GMT (or 16:00 MQ MT5 time) | [USD - Existing Home Sales]
2014-05-23 06:00 GMT (or 08:00 MQ MT5 time) | [EUR - German GDP]
2014-05-23 14:00 GMT (or 16:00 MQ MT5 time) | [USD - New Home Sales]
Please note : some US (and CNY) high/medium impacted news events (incl speeches) are also affected on USDCHF price movement
SUMMARY : breakout
TREND : bullish
Forum on trading, automated trading systems and testing trading strategies
newdigital, 2014.05.17 11:16
newdigital, 2014.05.19 09:24
Speech at a Symposium organized by Deutsche Bundesbank, in Frankfurt
BUBA’s Weidmann says ECB will closely monitor FX moves when weighing policy decisions
Here we go, right on cue
EURUSD a little higher at 1.3719 on the view that a weaker euro could
prompt adverse impact so they will be careful on driving it lower.
MetaTrader Trading Platform Screenshots
USDCHF, M5, 2014.05.19
MetaQuotes Software Corp., MetaTrader 5, Demo
USDCHF M5 : 8 pips price movement by EUR - German Buba President Weidmann Speech news event
newdigital, 2014.05.18 12:57
newdigital, 2014.05.22 09:57
2014-05-22 07:00 GMT (or 09:00 MQ MT5 time) | [EUR - French PMI]
if actual > forecast = good for currency (for EUR in our case)
EUR French PMI = Level of a diffusion index based on surveyed purchasing managers in the manufacturing/services industry
French Private Sector Slips Into Contraction In May
The French private sector contracted for the first time in three
months in May, flash survey data from Markit Economics showed Thursday.
flash composite output index fell to 49.3 in May from 50.6 in April.
The score below 50 indicates contraction in the sector.
Purchasing Managers' Index for manufacturing declined more-than-expected
to a 4-month low of 49.3 in May from 51.2 in April. The expected
reading was 51.
Likewise, the services PMI dropped to 49.2 from 50.4 a month ago. Economists had forecast the score to remain at 50.4.
Lower output was recorded across the service and manufacturing sectors. New business received by French private sector firms decreased for the second month running in May.
in the French private sector fell for a seventh consecutive month and
the rate of job shedding was the sharpest since February.
price trends were signaled in May. Input price inflation across the
French private sector accelerated to a four-month high, driven by a
sharper increase in service providers' costs.
On the other hand,
private sector output prices continued to fall, with the rate of decline
accelerating to the sharpest in ten months.
"With GDP having
stagnated in Q1, the PMI data so far suggest another disappointing
performance in the second quarter," said Jack Kennedy, senior economist
at Markit said.
USDCHF, M5, 2014.05.22
USDCHF M5 : 9 pips price movement by EUR - French PMI news event
newdigital, 2014.05.22 12:55
2014-05-22 07:30 GMT (or 09:30 MQ MT5 time) | [EUR - German PMI]
EUR - German PMI = level of a diffusion index based on surveyed purchasing managers in the manufacturing industry. It's a leading indicator of economic health - above 50.0 indicates industry expansion, below indicates contraction.
German manufacturing PMI falls to 6-month low of 52.9 in May
Manufacturing activity in Germany expanded at
the slowest rate in six months in May, dampening optimism over the
health of the euro zone's largest economy, preliminary data showed
In a report, market research group Markit said that its
preliminary German manufacturing purchasing managers' index fell to
a seasonally adjusted 52.9 this month, down from a final reading of
54.1 in April. Analysts had expected the index to inch down to 54.0
Meanwhile, the preliminary services purchasing managers' index
improved to a 35-month high of 56.4 this month, up from a reading
of 54.7 in April. Analysts had expected the index to ease down to
54.5 in May.
A reading above 50.0 on the index indicates industry expansion,
below indicates contraction.
Commenting on the report, Ollver Kolodselke, Economist at Markit
said, "Survey data for the second quarter so far suggest that we
should expect another period of solid growth of GDP."
Following the release of the data, the euro trimmed losses
against the U.S. dollar, with EUR/USD shedding 0.07% to trade at
1.3676, compared to 1.3665 ahead of the data.
Meanwhile, European stock markets were higher after the open.
Germany's DAX picked up 0.3%, the Euro Stoxx 50 rose 0.2%, France's
CAC 40 eased up 0.1%, while London's FTSE 100 added 0.3%.