End of week review 18th November 2017
End of Week Review
Saturday 18th November 2017
Review of econ calendar and business calendar:
- Japan GDP met consensus
- US core inflation slightly exceeded consensus and forecast, but declined from previous year
- US inflation exceeded consensus and forecast but declined from previous year
- US house building permits greatly exceeded consensus and forecast <anomaly.
US Tax
Proposed to vote after thanksgiving
Calendar
Thursday 23rd November 2017: US Thanksgiving
Thursday 23rd November 2017: US FOMC Minutes
Monday 20th November 2017: Japan Balance of Trade
Monthly Chart
Candlestick: red marubozu
SMA 7, 12, 50.
50 is already touching 7.
EMA 7, 12, 50.
7 is still on top. It is flat lining.
BB sd 2
In the middle of top band –
BB sd 1
Touching the top band outer line.
Parabolic SAR
Still in the trending up
Stochastic
80 – close to overbought?
RSI
50 – overbought
ADX
20 – has been declining.
MACD
Histogram = has been flat
Lines = have been declining and now flat
Conclusion
The bullish trend is declining.
Weekly Chart
Candlestick red marubozu
Turning back to the parallel line
SMA 7, 12, 50.
50 has crossed 12 > 7|50|12
EMA 7, 12, 50.
50|12|7
Bollinger Band sd 2
In band 1 but touched middle line
BB sd 1
In band 1 but cover the whole band 1
PARABOLIC SAR
Still shows uptrend
ADX
12
Stochastic & RSI
Downtrend – 50
MACD
Histogram declining but still +
Lines declining
Weekly chart analy
Boxing: 114 | 108.67/109
Conclusion
Downtrend – but won’t be a strong trend.
Overall conclusion
It will decline – but not a strong downtrend.
In the bigger picture it will go: 114 – 109 (09 to be safe).
Will I jump into the trade this week?
Probably not.
There won’t be sufficient strngeth. It hovers at s/r leel.
***The closest S/R level = 112.75 | 111.55***
Next week if it is below 112, I might enter to exit at 111.5.
Saturday 18th November 2017
Review of econ calendar and business calendar:
- Japan GDP met consensus
- US core inflation slightly exceeded consensus and forecast, but declined from previous year
- US inflation exceeded consensus and forecast but declined from previous year
- US house building permits greatly exceeded consensus and forecast <anomaly.
US Tax
Proposed to vote after thanksgiving
Calendar
Thursday 23rd November 2017: US Thanksgiving
Thursday 23rd November 2017: US FOMC Minutes
Monday 20th November 2017: Japan Balance of Trade
Monthly Chart
Candlestick: red marubozu
SMA 7, 12, 50.
50 is already touching 7.
EMA 7, 12, 50.
7 is still on top. It is flat lining.
BB sd 2
In the middle of top band –
BB sd 1
Touching the top band outer line.
Parabolic SAR
Still in the trending up
Stochastic
80 – close to overbought?
RSI
50 – overbought
ADX
20 – has been declining.
MACD
Histogram = has been flat
Lines = have been declining and now flat
Conclusion
The bullish trend is declining.
Weekly Chart
Candlestick red marubozu
Turning back to the parallel line
SMA 7, 12, 50.
50 has crossed 12 > 7|50|12
EMA 7, 12, 50.
50|12|7
Bollinger Band sd 2
In band 1 but touched middle line
BB sd 1
In band 1 but cover the whole band 1
PARABOLIC SAR
Still shows uptrend
ADX
12
Stochastic & RSI
Downtrend – 50
MACD
Histogram declining but still +
Lines declining
Weekly chart analy
Boxing: 114 | 108.67/109
Conclusion
Downtrend – but won’t be a strong trend.
Overall conclusion
It will decline – but not a strong downtrend.
In the bigger picture it will go: 114 – 109 (09 to be safe).
Will I jump into the trade this week?
Probably not.
There won’t be sufficient strngeth. It hovers at s/r leel.
***The closest S/R level = 112.75 | 111.55***
Next week if it is below 112, I might enter to exit at 111.5.
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