Daily price is on primary bullish for secondary correction: the price was stopped by 1.1086 support level located on the upper border of Ichimoku cloud with 1.0847 as the next bearish target located below Ichimoku cloud in the bearish area of the chart. if the price breaks 1.1086 on close daily bar so we may see the reversal of the price movement to the primary bearish market condition with the secondary ranging: the price will be located indie Ichimoku cloud; if not so the ranging bullish trend will be continuing.
D1 price - correction with possible bearish reversal:
is on bearish market condition with secondary ranging between 1.0807 bearish support level and 1.1713 bullish resistance level.
is on ranging bearish with 1.0461 support level.If D1 price will break 1.1086
support level on close D1 bar so we may see the reversal of the price movement to the primary bearish market condition with secondary ranging (ranging bearish).If D1 price will break 1.1331 resistance level so the bullish trend will be continuing.If not so the price will be on ranging between the levels (ranging bullish).
SUMMARY : correction
Averager is intended for averaging your deals that has had a drawdown or had gone against the trend.
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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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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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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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Using the width between the Bollinger Bands called BandWidth, this system finds times of low volatility also known as a squeeze. It is called a squeeze because as the bands compress, they tend to expand again into higher volatility and the price can trend along the upper or lower band. This system finds low volatility and enters a new position when the price moves to the upper or lower Bollinger Bands.
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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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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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The indicator represents an additional chart window with a lower time frame where bars are combined into groups that are equivalent in time to main chart time frame. Bars are synchronized by the right hand side of the window, i.e. the time of the last bar in the main window corresponds to the time of the last bar group in the additional window. The maximum number of groups is 16; the maximum number of bars combined into groups in the additional window is 256. Limitations on the numbers are requi
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Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2015.09.05 09:34
Forex Weekly Outlook September 7-11 (based on forexcrunch article)
September began with more volatility and more uncertainty. Rate decisions in Canada; New Zealand and the UK, Employment data in Australia and US consumer sentiment all stand out. These are the main events on our calendar for this week. Join us as we explore these financial highlights.
The U.S. economy produced 173,000 jobs in August,falling short of estimates but with positive revisions and upbeat wage growth. The release came at a crucial timing of the rate-hike debate and the mixed report raised uncertainty, but we think the Fed could still bring on a “dovish hike”. In the euro-zone, things are far from quiet, with Draghi showing his will to act, weighing heavily on the euro. Commodity currencies couldn’t enjoy the Chinese holiday and were hit hard. Things are going to get messy again.
Sergey Golubev, 2015.09.06 15:53
USD, EUR, JPY, GBP, AUD: Outlooks For The Coming Week - Morgan Stanley (based on efxnews article)
USD: USD Strong Against EM. Bullish."We believe that USD strength will continue to be focused against
commodity and EM currencies. Volatility remains elevated and risks
surrounding China could keep it high. Should China be resolved, this
could lead to a temporary rally in EM FX, but it would not be long
before the market started bringing forward the timing of the first Fed
hike, ending any relief rally in EM FX. We remain generally bullish USD."
EUR: The ECB Pushes Back. Neutral."The latest ECB press conference was dovish in tone, and the central
bank increased the amount it can purchase of new issuances. In only
making one adjustment to its current policy, the central bank kept the
door open for further easing, contributing to the weakness seen in EUR.
The central bank will need to maintain its dovish tone going forward to
avoid the currency gaining ground once again off the back of its current
account surplus and inverse relationship with risk."
JPY: Watch Wages. Neutral."More global asset market volatility would support the safe haven JPY,
but we have to increasingly be aware of the risk of a BoJ response.
After a 2Q contraction, the ramp into 3Q growth remains disappointing.
Key will be cash earnings to test if the BoJ’s narrative of higher
corporate profits filtering through to wages is gaining traction."
GBP: Waiting for Opportunities to Sell. Bearish."We maintain our bearish GBP view, but are cautious that current levels
may not be the most attractive to enter short positions. Markets have
pushed the timing of the first hike in the UK back to August 2016, well
beyond our economists’ expectation of a February hike. However, risk
appetite remains weak and concerns in China are high. GBP tends to
underperform in periods of heightened volatility, and this could
AUD: Domestic Story Deteriorating. Bearish."Despite the sell-off already seen in AUD, we believe there is scope for
further weakness. It’s notable that AUD has sold off even as iron ore
prices rose recently, suggesting that it is more than simply a
reflection of external factors. Indeed, domestic data continue to
deteriorate and the market is now pricing in nearly a full cut by the
end of the year. Still, with our economists expecting a cut in November,
we believe the market will move to our more dovish view, pressuring
Sergey Golubev, 2015.09.07 09:34
EUR/USD forecast: sideway trading for today and breaking the levels for tomorrow (based on efxnews article)
United Overseas Bank made a forecast for EUR/USD for today expecting the ranging market condition between 1.1105 and 1.1205:
Let's evaluate this forecast to estimate the levels for today and tomorrow.
EUR/USD: ranging for today and break the levels for tomorrow. This pair is
ranging between 100-SMA and 200-SMA within the following key levels:
means - if the price crosses 1.1339 resistance from below to above so
we may see the bullish breakout with the reversal of the price movement
to the bullish market condition. If the price crosses 1.0947 support so
it may be reversal to the bearish with good breakdown possibility.
the forecast of UOB may be the correct one but with the following
levels: 1.1339/1.0947. By the way, the daily levels for tomorrow are the
following: 1.1713 key resistance and 1.0807 key support: the price is
ranging between those 1.1713/1.0807 levels, and if the price breaks one
of those level - we may see the primary bearish/bullish trend to be
Thus, intraday levels are 1.1339/1.0947, and the levels for daily trading for this week are 1.1713/1.0807.
Sergey Golubev, 2015.09.07 19:44
Intraday Outlooks For EUR/USD, EUR/JPY, GBP/USD - SEB (based on efxnews article)
EUR/USD: Downside risks still persist. "Last week ended
with some rather choppy hours post the NFP and the hourly chart
indicates either a possible bear triangle or a bear flag in the making.
The first alternative points at resuming sellers in the 1.1170’s and
latter one closer to 1.12. Both alternatives will be given a bearish
confirmation breaking below 1.1090."
EUR/JPY: Should soon run into offers. "Last week ended
with another clearly bearish weekly candle, the second consecutive one.
On a shorter time frame the market traced, as outlined, out a couple of
fresh lows before started to correct some of the latest decline. This
corrective move higher is seen primarily ending towards 133.65.
Thereafter our focus will again turn to the downside and a resumption of
the bear trend."
GBP/USD: A small bounce, then lower again. "The pair
reached 1.5170 support on Friday and the much muted reaction from the
support is clearly sending a bearish message. The weekly candle also
became a good follow through one to the preceding week’s bearish key
week reversal. All in all the downside pressure remains high and only a
minor bounce should hence be justified from current levels."
Sergey Golubev, 2015.09.08 14:03
Barclays - 'we recommend remaining short EURUSD' (based on efxnews article)
Barclays made a forecast for this week concerning EUR/USD related to funbdamental factors such as the following:
Let's evaluate this forecast concerning the technical point of view:
Sergey Golubev, 2015.09.09 13:07
BTMU Forecasts for EUR/USD: 1.060 in December 2015 (based on efxnews article)
This pair is on bearish market condition for
ranging between Fibo resistance level at 1.1713 and Fibo support level
at 1.0850. Symmetric triangle pattern was formed by the price to be
broken with 1.0807 resistance level for the bearish trend to be
continuing, and the next bearish targets in this case are 1.0520 and
According to the forecast made by Bank of
Tokyo-Mitsubishi UFJ, this triangle pattern will be broken from above to
below together with 1.0807 target by the end of this year, and we may
see good bearish breakdown possibilities in the beginning of 2016: the
price will break 1.0520/1.0461 support levels by March 2016, and EUR/USD
will be at 1.000 in Jun'16.
Many int'l institutions made a prediction for the EUR/USD to be 1.000
or less than that at year-end but this is the first forecast which was
clarified the values of this pair in detailed timing way: we will see
the EUR/USD to be 1.000 in June 2016 only.
Sergey Golubev, 2015.09.09 18:03
Goldman Sachs about Next Week's FOMC: 'the first hike is not likely to come until December' (based on efxnews article)
Goldman Sachs made some forecast concerning USD related to the FOMC meeting which will be held next week on Thursday:
Just to remind about next week's FOMC metting:
2015-09-17 19:00 GMT (or 21:00 MQ MT5 time) | [USD - FOMC Statement, Federal Funds Rate]
if actual > forecast (or previous data) = good for currency (for USD in our case)if hawkish > expected = (for USD in our case)
[USD - FOMC Statement] = It's the primary tool the FOMC uses to communicate with investors about
monetary policy. It contains the outcome of their vote on interest rates
and other policy measures, along with commentary about the economic
conditions that influenced their votes. Most importantly, it discusses
the economic outlook and offers clues on the outcome of future votes.
[USD - Federal Funds Rate]
= Interest rate at which depository institutions lend balances held at
Federal Reserve to other depository institutions overnight. Short term
interest rates are the paramount factor in currency valuation
- traders look at most other indicators merely to predict how rates
will change in the future.
Sergey Golubev, 2015.09.10 08:43
Credit Agricole for EUR/USD: 1.12 by the end of Q3, 1.06 by the end of the year, and 1.04 by the end of Q1 of 2016 (based on efxnews article)
Credit Agricole made an other forecast for EUR/USD: 1.12 by the end of
Q3, 1.06 by the end of the year, and 1.04 by the end of Q1 of 2016. It
means that old forecast (made few day ago) was updated for 1.12 target
for this pair by the end of September. This correction was made because
of fundamental factors changed: Credit Agricole is expecting dovish ECB
(ECB Meetings) and
hawkish Fed (FOMC).
Just to remind the general rules for fundamental news events concerning the speeches:
That means that Credit Agricole is expecting more bearish for EUR/USD in the medium term forecast:
Sergey Golubev, 2015.09.11 05:55
USD trading strategy going into next week's FOMC meeting - Morgan Stanley (based on efxnews article)
Morgan Stanley estimated thew probability for Fed hike in September
vs December meetings, and it was stated that a 30% chance only of a hike
in September, so there is more chance to expect this events in December
this year. And in this case, it may be more opportunity for EUR and JPY
with related to USD: those pairs may be in bullish condition during the
September 17th meeting for example.
Thus, there are 3 basic scenarios concerning Fed hike:
Base-Case: December. "The Fed has entered its
pre-meeting silent period, which means there are no speakers on the
agenda to move market expectations of the first hike before the
September 17th meeting. Comments from the Fed thus far suggest the
central bank wants to make the first hike as well flagged as possible
and avoid surprising the market. With markets pricing in less
than a 30% chance of a hike in September, it therefore is unlikely that
the Fed will hike now. Indeed, our US economists have maintained their
view for a December hike."
Get It Done: "A hike next Thursday would lead to
accelerated EM weakness, in our view. Current account surplus and net
foreign asset-supported FX such as EUR and JPY may rally should the Fed
hike; these currencies have developed an increasingly tight inverse relationship with the performance of risky assets."
Or Wait: "The Fed delaying action would be in line with current market pricing. In this scenario, USD
would likely soften somewhat and the Fed would remain data-dependent in
the statement and in the Chair’s press conference. Nonetheless, USD
dips still represent buying opportunities as the reason for USD strength is mainly USD-supportive repatriation flows."