W1 price is is located on the primary bearish with the market rally and
1.1240 resistance level for trying to be broken on open W1 bar for now:
If W1 price will break 1.1240 resistance level so we may see the local uptrend as the secondary market rally to be startedIf not so the price will be ranging between 1.0461 and 1.1240 levels with primary bearish
is on primary bearish with the secondary ranging which was started in April by close MN bar:
If MN price will break 1.2569 resistance level the local uptrend as a market rally will be going to be started within the primary bearish market conditionIf MN price will break 1.3160 resistance level so we may see the reversal of the price movement from bearish to the primary bullish on MN timeframeIf not so the price will be ranging between 1.0461 and 1.2569 levels with primary bearish
SUMMARY : ranging
TREND : bearish
A script for opening a grid of orders
If you need to quickly open several pending orders (Buy Limit, Sell Limit, Buy Stop, Sell Stop) on a certain distance from the current price, this script will do all the routine for you! Allow AutoTrading before running the script.
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Safe Automatic is a safe MetaТrader 5 trading robot working autonomously on a VPS server. The good results are achieved on EURUSD.
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Tired of catching the market movements? TTT FXnew is an essential tool for trend followers. This is a unique breakout indicator that automatically plots new trend lines every day forming blue and red triangles using OCHL values of the previous day. A market entry is performed when the price exits the triangles through the dotted line. If the yellow line crosses the red one after opening of the da
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The script is intended for automatic placing of Sell Stop pending orders, Stop Losses and Take Profits on the user specified levels. This script is not that useful as "Virtual pending buy stop", since short positions are opened as Bid price crosses the levels. Thus spread widening is not dangerous. Nevertheless, you need to have this script to prevent unwanted hitting of the Stop Loss levels.
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Averager is intended for averaging your deals that has had a drawdown or had gone against the trend.
An example of operation of the averager in an Exeprt Advisor in the MetaTrader 5 terminal: Exp - TickSniper. The system is identical to the averaging system created for MetaTrader 4. A demo version of the averager for MetaTrader 5: Averager DEMO.Note: this is not an automated trading system (the EA doesn't work in the strategy tester). It monitors your deals and averages them in case o
The script is intended for automatic placing of Buy Stop pending orders, Stop Losses and Take Profits on the user specified levels.
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The most profitable trend traders are the ones who know how to recognize not only the market trend, but also the trading opportunities that arise once a trend has been established. The Pz Trend Trading indicator has been designed to profit has much as possible from trends taking place in the maket.
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Main Pivots is an indicator which looks for pivots points on preset intervals (days, weeks, months, years, etc.). Then all extreme points are checked for splice and consistent support and resistance lines are formed. These lines are useful for detecting the best pivot points.
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Does not support hedging orders on a single symbol on MT5
MultiMTCopier MT5Source - new and improved multi-terminal positions copier for your real / demo account, works faster, requires less, flexible in managing and upgrading, new information support. This expert is designed for terminal MetaTrader5 from which the position will be copied.
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The fractal analysis of the markets is used in the indicator operation algorithm. According to the fractals theory, after the breakthrough of the fractal level confirmed by the closing price located below or above the fractal, the trend wave in the direction of the breakthrough starts to develop. Until the fractal has been passed in the opposite direction, the trend is considered to be acting even if the price is flat or moves backwards. If a bullish fractal has been previously broken through on
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qAutoActivation indicator is one of the main components of Trading Chaos Expert trading expert panel. The indicator displays the current trend on the current timeframe. This is the first indicator that is attached to the chart and saved in the trading complex template. It defines what trading signals from the expert panel should be automated for market entry (bullish or bearish ones).
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Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2015.05.02 12:56
Forex Weekly Outlook May 4-8 (based on forexcrunch article)
The US dollar experienced a very turbulent week, tumbling
down and recovering, but not against the euro. Close elections in the
UK, an important rate decision in Australia, employment data from New
Zealand, Australia, Canada and the all- important US non-Farm Payrolls
release are key events. These are the highlight events on Forex calendar
for this week. Here is an outlook on the top events coming our way.
The Federal Reserve downgraded its economic outlook amid soft growth data.
The Fed admitted recent weakness in the first quarter relating it to
temporary factors. Inflation will have to climb back to 2% and the job
market needs to improve further before a rate hike is announced.
However, the Fed believes the US economy will rebound in the second
quarter. Meanwhile, jobless claims
released last Thursday, surprised markets with a 34,000 fall in the
number of claims nut not all data points impressed. The biggest winner
was the euro, that broke critical resistance and seems unstoppable. Poor
data weighs on the pound towards the elections and central banks weigh
on the kiwi and the Aussie.
Sergey Golubev, 2015.05.02 12:59
US Dollar Fundamentals (based on dailyfx article)
Fundamental Forecast for Dollar: Neutral
This past week, the USDollar posted its first drop
on a monthly basis in 10 consecutive months. At the same time, the week
ended on a rally that closed out the period little changed. We are in a
phase of technical and fundamental limbo. A correction for the Greenback is not without its merits:
the Dollar’s exceptionally consistent run can be overinflated by
trend-following speculative interests that need to retrench and rate
speculation has softened alongside the quality in data. Then again, the
currency’s and economy’s ‘relative’ appeal is still exceptionally
strong. With the Dollar transitioning from a steady bull trend to a
period of consolidation and now suffering its most painful slide in a
year, the burden to generate momentum on this week’s fundamental themes
will be more evenly distributed.
For fundamental traders, the most recognizable
catalyst in the week ahead will be the April labor statistics due on
Friday. It is not unreasonable to peg the NFPs the week’s top event risk.
It is an easy-to-interpret indicator and taps directly into what has
driven the Dollar and FX market generally through the past year:
monetary policy expectations. However, there will be hurdles to overcome
for this data to lock in a definitive currency move. The most prominent
obstacle for the report will be its Friday release. There will be
plenty of anticipation, but confirmation comes late in the week.
In the data itself, the elements that cut closest to
the key determinants for monetary policy will carry the most weight.
The unemployment rate is already well beyond levels previously set as
targets, so its up- or downtick will generate lower amplitude waves. The
missing element in the timing of the Fed’s liftoff is tangible
inflation pressure. For that reason, the earnings data will likely prove the most important update.
The current consensus is for a 2.3 percent increase in wages
year-over-year, which would match the strongest pace since 2009. Should
the data meet or ‘beat’ this forecast, it would tip the uneasy
equilibrium in rate speculation that we were left with following this
past week’s poor 1Q GDP reading and the FOMC’s suspiciously status quo
statement. Alternatively, a ‘miss’ is likely to carry less weight as it
fighting a current whereby the Fed remains well ahead of the policy
Sergey Golubev, 2015.05.03 08:30
EUR/USD Retains Bullish Pattern Despite Thin Market Participation (based on dailyfx article)
AUD/USD Outlook Mired by Speculation for Reserve Bank of Australia (RBA) Rate Cut.
Sergey Golubev, 2015.05.03 08:39
Monthly Forex Forecast: May 2015 (based on dailyforex article)
The USD has fallen meaningfully in value over the past 1 month and 3
month periods. This is a significant quantitative change in the market
and is suggestive of continuing USD weakness over the coming month. Next, it should be noted that both the GBP and the JPY have been
enjoying steady movement overall for many months, with the GBP rising
and the JPY falling. Over the past 3 months, we are also seeing strong turnarounds from
bearish to bullish in CAD and NZD, and in AUD to a lesser extent. This suggests that the current month will see rises in GBP, CAD, NZD
and AUD, and falls in USD and JPY – in these orders of preference.
Many traders believe fundamental factors should either be ignored
completely, or taken as the primary factor to consider in entering or
exiting a trade. Fundamental analysis is best used as a final filter in deciding
whether to take a trade that already looks good from a technical
Therefore let’s consider the aforementioned currencies from a fundamental perspective. Both the GBP and the CAD have higher base rates than the USD. Of the three currencies, the market probably sees the next rate rise
as most likely to come in the GBP, closely followed by the USD. The USD is seen as having the strongest economy, but that perception is arguably under threat now. The CAD may be impacted by the price of oil with a positive
correlation, and the price of oil is bouncing back and rising strongly. Overall it seems that the fundamental factors are mixed and
questionable enough to probably not be a block in the direction of the
Sergey Golubev, 2015.05.03 10:42
EUR/USD Weekly Fundamental Analysis, May 4-8, 2015 – Forecast (based on fxempire article)
closed the week at 1.1199 after touching a two month high. The dollar
extended its gains against the pound from Thursday’s session after
weaker-than-expected manufacturing report. It has recovered most of its
losses from earlier in the week.
Economic data released Thursday showed Chicago-area manufacturing
activity expanding for the first time in three months, weekly jobless
claims falling to their lowest level in 15 years, and a
larger-than-expected increase in a closely watched measure of wage
inflation. That data helped support the argument, advanced by Federal
Reserve policy makers, that weak first-quarter growth was primarily due
to transient factors, including bad weather and labor disputes at
While not spectacular, Friday’s data didn’t provide a strong signal to the contrary.
Strong economic data increases the possibility that Fed policy makers
will raise interest rates at their June meeting, a move that would
benefit the dollar.
The euro posted its biggest monthly gain in 4 1/2 years in April as
speculators pared record bearish bets. Positive economic reports suggest
the European Central Bank’s asset-purchase program is working, while
U.S. growth remains uneven. Markets in Europe, including Germany and
France, were closed for national holidays, leading to thin trading.
The euro is still forecast to fall by year-end. The median estimate
of more than 60 economists compiled by Bloomberg News sees the euro at
$1.04 on Dec. 31, more than 7 percent lower than yesterday’s closing
“We’ve seen an improvement in European fundamentals, which has
translated into support for the euro,” said Joe Manimbo, an analyst at
Western Union Business Solutions, a unit of Western Union Co. in
Washington. “For the most part, it’s just the euro’s ability to steal
the dollar’s lost thunder on the low pulse for the U.S. economy in the
Sergey Golubev, 2015.05.03 10:57
EUR/USD Monthly Fundamental Forecast May 2015 (based on fxempire article)
had a stellar month in April closing in the 1.12 level after the ECB
kicked off its stimulus program and data started printing a bit better
than in previous months. Greece continued being a thorn in everyone’s
side. The euro is expected to trade flat or a bit weaker in April as US
data should start to print a bit stronger. In Spain and Italy, the
export-led recovery has boosted industrial production and is starting to
spill over into the broader economy, while deflationary tailwinds and
rising consumer confidence in France have coincided with higher
Efforts by France and Italy to push through much needed structural
reforms, as well as the Greek government’s decision to reshuffle its
negotiating team to broker an extension to its current bailout program
also bode well for stronger consumer and business confidence and
longer-term growth. Headline deflationary pressures in the euro zone
have also eased from -0.6% y/y in January to the most recent release of
0% in April, underpinned by rising energy and food prices. This,
combined with monetary stimulus, is forecast to gradually drive the
headline print up to a year-end rate of 0.6% y/y in 2015 and 1.3% in
2016. The ECB intends to fully implement its roughly €1.1 trillion QE
program and has no plans to alter its policy stance unless the higher
inflation trend is firmly anchored. With euro zone inflation forecast to
be in line with the ECB’s target of close to, but below, 2% by 2017, we
believe that QE will run its full course through September 2016.
Soft economic data for Q1, still-low inflation prints, and overall
USD strength were cited by the FOMC at its March meeting as the overall
rationale for delaying interest rate hikes into the later part of 2015
and moderating the extent of hikes to be delivered. An April FOMC
statement that pointed to a number of economic positives but failed to
mention constructive stirrings on the inflation front didn’t change our
view that the FOMC is likely to engage in so-called ‘liftoff’ at its
September meeting. A hawkish interim surprise would require
extraordinarily strong data between now and the June or July FOMC
meetings – not our base case.
Sergey Golubev, 2015.05.04 18:36
ECB's Constancio Convinced Greece Worst-case Scenario Will Be Avoided (based on rttnews article)
European Central Bank Vice President Vitor Constancio said that he
was certain that Greece's exit from the euro area will be avoided.
an interview to the Dutch daily Het Financieele Dagblad, which was
published on the ECB website on Monday, Constancio said, "Like everyone
else, I am concerned. But I am also absolutely convinced that the
worst-case scenario will be avoided."
same time, everyone acknowledges that the degree of stress and
vulnerability in the euro area has totally changed. There are no signs
Even if a Grexit materializes, the ECB is
sufficiently protected from huge losses as the risk of emergency lending
to Greek banks is shared with the national central bank, the Portuguese
"We jointly bear the risk on the rest of the
amount. But bear in mind that collateral has been provided. We are
talking about securities that are not linked to the Greek sovereign and
which, on top of that, are subject to a "haircut". This should offer
sufficient protection," Constancio said.
Sergey Golubev, 2015.05.03 20:05
Forex Forecast – Quant vs Chart Reading (based on dailyforex article)
On this basis, the quantitative momentum forecast for the edge during the coming week is as follows:
On this basis, my technical analysis forecast for the edge during the coming week is as follows:
Sergey Golubev, 2015.05.04 22:44
Forex technical analysis: EURUSD peeks below a support level (based on forexlive article)
So it is a slow grind and may just rebound off the next support, but the
EURUSD has touched (and is taking a peek below) the 100 hour MA (blue
line in the chart below) at the 1.1135 level currently.
There are reports that the IMF will cut off support for Greece. IMF
Lagarde and Greece's Tsipras are holding a telephone conference.
commission president Juncker says Greece exit for Euro area is no
option and that Europe must show solidarity with Greece.
Sergey Golubev, 2015.05.05 08:53
EUR/USD Technical Analysis: Short Position Now in Play (based on dailyfx article)
The Euro put in a bearish Evening Star candlestick pattern, hinting a move lower against the US Dollar
may be in the cards. A daily close below the 14.6% Fibonacci expansion
at 1.0982 exposes the 23.6% level at 1.0793. Alternatively, a push above
the 38.2% Fib retracement at 1.1271 opens the door for a challenge of
the 50% threshold at 1.1519.