is on primary bearish market condition located below Ichimoku cloud and below Senkou Span line which is the virtual border between the primary bullish and the primary bearish trend on the chart. The price is breaking 1.0985 support level together with descending triangle pattern to below for the bearish trend to be continuing with 1.0911 nearest bearish target to re-enter.
Chinkou Span line is located below the price for the bearish trend to be continuing, Absolute
Strength indicator and Trend Strength indicator are evaluating the trend as a primary bearish market condition in the near future.
SUMMARY : bearish
TREND : breakdown
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Sergey Golubev, 2016.10.15 09:46
Weekly Outlook: 2016, October 16 - October 23 (based on the article)
Sergey Golubev, 2016.10.15 10:00
EUR/USD Weekly Outlook: 2016, October 16 - October 23 (based on the article)
Sergey Golubev, 2016.10.17 14:46
EUR/USD Intra-Day Fundamentals: New York Manufacturing Index and 6 pips price movement
2016-10-17 12:30 GMT | [USD - Empire State Manufacturing Index]
if actual > forecast (or previous one) = good for currency (for USD in our case)
[USD - Empire State Manufacturing Index] = Level of a diffusion index based on surveyed manufacturers in New York state.
From Market Watch article:
EUR/USD M5: 6 pips price movement by Empire State Manufacturing Index news event
As we see from the daily chart below - 1.0985 support level was broken today on daily close bar (today's daily bar was opened below 1.0985), and for now - the price is testing 1.0969 support level for the bearish trend to be continuing with 1.0911 weeily bearish target. Otherwise - ranging.
Sergey Golubev, 2016.10.18 15:02
EUR/USD Intra-Day Fundamentals: U.S. Consumer Price Index and 32 pips range price movement
2016-10-18 12:30 GMT | [USD - Consumer Price Index]
[USD - Consumer Price Index] = Change in the price of goods and services purchased by consumers.
From official report:
EUR/USD M5: 32 pips range price movement by U.S. Consumer Price Index news event
Sergey Golubev, 2016.10.20 10:07
Trading News Events: ECB Minimum Bid Rate (adapted from the article)
Bearish EUR Trade: Governing Council Extends/Adjusts QE Program
is located below Ichimoku cloud in the bearish area of the chart. The price is testing 1.0969 support level together withdescending triangle pattern to below for 1.0954 nearest bearish target to re-enter.
EUR/USD M5: 25 pips range price movement by ECB Minimum Bid Rate news events
Sergey Golubev, 2016.10.20 15:16
Intra-Day Fundamentals - EUR/USD and USD/CAD : Philadelphia Fed Business Outlook Survey2016-10-20 12:30 GMT | [USD - Philly Fed Manufacturing Index]
[USD - Philly Fed Manufacturing Index] = Level of a diffusion index based on surveyed manufacturers in Philadelphia.
"The index for current manufacturing activity in the region edged down,
from a reading of 12.8 in September to 9.7 this month. The index has now
been positive for three consecutive months (see Chart 1). Other broad
indicators showed notable improvement. The new orders index improved
markedly this month, increasing from 1.4 in September to 16.3 in
October. The percentage of firms reporting increases in new orders this
month rose to 40 percent from 30 percent last month. The current
shipments index also improved, rising 24 points to 15.3. The delivery
times, unfilled orders, and inventories indexes remained weak, however,
with all registering negative readings, although they were less negative
than in September."
EUR/USD M5: 75 pips range price movement by Philadelphia Fed Business Outlook Survey news events
USD/CAD M5: 38 pips range price movement by Philadelphia Fed Business Outlook Survey news events
1.0985 level was broken as well on daily close bar. The price is testing 1.0885 support (on D1 close bar to be broken) for the bearish breakdown to be continuing.
So, it was really great breakdown for the week: the price was moved from the following:
Thus, this is 100 pips price movement from one key support on Sunday/Monday morning to the other one for now.
As to the weekly chart (a medium term situation) so this is bearish breakdown is still going on with 1.0877 support level to be broken on close weekly bar for the bearish breakdown to be continuing, otherwise - ranging bearish.