Economic news events such as Non-Farm Payroll, GDP and Inflation have always been of great importance to traders. These events have an immediate impact on certain financial instruments and they also provide an indication of an economy’s health.

Most traders struggle to come to grips with the actual impact that economic events have on markets, now Autochartist in conjunction with Econoday have developed the Event Impact Analysis tool which equips the trader to acquire insight as to how economic events impact financial markets.

The Event Impact Analysis tool is an easy to read visual report and gives traders tangible historical information, displaying delta (the difference between expected and actual figures) and the resulting trend.

By selecting a country, then a news event and an instrument, the tool provides images of the latest 12 price graphs of the most traded currencies around the time of the event.

Get the ability to analyse six months of valuable historical price graphs that displays trends before and after economic events and obtain a firm understanding of the short term impact of different economic events.

Lessen the uncertainty of market volatility that traders typically encounter around the time of news releases or economic events with the Event Impact Analysis tool.

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Autochartist недавно идентифицировал хорошо-сформированную фигуру Треугольник на дневных графиках ХолМРСК. Общее Качество этой фигуры оценивается на уровне в 5 делений, что отражает следующие значения отдельных индикаторов Качества – низкий Исходный Тренд (2 деления) и значительную Согласованность и Четкость (оба оцененные на уровне в 7 делений). Дно этой фигуры (точка С на графике ниже) образовалось когда ХолМРСК развернулся вверх от сильной поддержки на круглом уровне 2.0000. Необходимо отметить, что первые две волны этого Треугольника (от А до С и от С до В) являются ясными волнами АВС, чьи под-волны В также являются более краткосрочными волнами АВС (отмеченные красным и синим цветом на втором графике ниже) – что увеличивает видимость этой фигуры для участников рынка и вероятность того, ХолМРСК продолжит рост в ближайшее время.

На следующем дневном графике ХолМРСК показаны вышеупомянутые ценовые уровни:

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CHF/JPY has recently completed the highly Uniform Descending Triangle chart pattern identified by Autochartist on the daily charts. Autochartist rates the Quality of this chart pattern at the 4 bar level as a result of the lower Initial Trend and Clarity (rated at the 3 and one bar level respectively) and substantial Uniformity (8 bars). This chart pattern continues sharp preceding downward price impulse from the major resistance at the round price level 100.00. The first connecting points of the upper and the lower trendlines of this chart pattern (points A and C) enclose the clear ABC correction (to the aforementioned preceding downward price impulse) which was completed by the subsequent downward price impulse (from A to D).

Both connecting points of the lower support trendline of this Descending Triangle (points C and D) formed when the pair corrected up from the strong support area close to the price level 82.00. The latest Breakout of the lower support trendline coincided with the breakout thorough 82.00. The pair is expected to decline further in the direction of the Forecast Area set between price levels 76.93 and 79.54.

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Although the longer-term chart is still bullish based on the triangle and inverse head and shoulders chart pattern breakouts from earlier in the week, the shorter-term chart suggests the index is overbought and headed for a possible near-term correction. The inability to follow-through to the upside was the first clue that the market was running on fumes. The second indication was the low volume.

Even if the market does correct, bullish traders should keep in mind that this move will be necessary to alleviate some of the tightness in the market caused by its rapid rally from the recent bottom at 5343.10. Since a solid support base had not been formed prior to the market’s rally, it is necessary for a corrective move to take place in order to establish a higher bottom. It is this higher bottom that will signal that buyers are in control.

As mentioned earlier, volume is low. This was especially evident earlier this week on the day the market reached its high at 5719.80. The index’s volume was actually lower than the previous day. Not only does this indicate an overbought condition, but it also indicates that perhaps short-covering drove the market to its high. All of this will be taken care of if the market can survive the break into the retracement zone created by the short-term range of 5343.10 to 5719.80. This makes the 50 to 61.8 percent retracement zone at 5531.45 to 5487.00 most important on Friday.

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The JP225 stock index CFD formed a 3-Drive Fibonacci pattern on the 240-minute chart. Since this pattern is only emerging, it is setting up a potential two-fold trade. The first phase of the trade is a potential rally into the price and time target zone at 8671.25. If this price forecast level is reached, then traders should watch for a near-term pullback into a series of Fibonacci levels ranging from 8583.29 to 8298.71.

The 3-Drive Fibonacci pattern is a symmetrical pattern in terms of price and time. The forecast is achieved by putting together data from the previous price swings at X to A, A to B and B to C. It also derives information from the standard “lightening bolt” or ABCD Fibonacci pattern. Theoretically speaking, the complete up and down swing from X to A and A to B is used to predict the move from B to C then C to the price and time target. If the price and time target is reached, then the theory calls for a reactive break into the Fibonacci levels.

As mentioned earlier, the trading opportunity is two-fold. Since the main trend is up as defined by the higher-top, higher-bottom formation, trend traders may want to buy now that Point C has been formed, looking for the anticipated rally into the target price. This would be a rally from 8441.00 to 8671.25. Counter-trend traders on the other hand may want to wait for the target to be reached then short the index CFD for the anticipated retracement into the series of Fibonacci levels. If this occurs then counter-trend traders should watch for a potential break into support levels ranging from 8583.29 to 8298.71. The 50 to 61.8 percent levels at 8556.12 to 8528.94 are the most likely downside targets.

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US Crude Oil futures formed a rounding top near key resistance during this week’s trading action, suggesting a possible short term high has been established. Autochartist has identified the latest upswing as a retest of the upper trend line that forms the Rising Wedge chart pattern illustrated here.

This Rising Wedge continues to develop as an emerging pattern on the 240-minute time frame. With resistance at the $103.50 level now confirmed, Thursday’s pullback may indicate a move to retest the bottom trend line. As the wedge is rapidly narrowing towards the apex where both trend lines converge, a breakout to complete the pattern appears likely in the near future.

Traders will be watching the price behavior upon a move towards the $100.00 level for indications of strength. As the market is now near its long term highs, a breach of support would encourage profit-taking at these levels. Continued strength with an eventual breakout to the upside would be viewed as a strongly bullish development in light of the already steep angle of ascent that this market has held since the pattern began to emerge.

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DISCLAIMER: The Autochartist service includes chart pattern identification in respect of foreign currencies, commodities, equities and stocks. There are potential risks relating to investing and trading. You must be aware of such risks and familiarize yourself in regard to such risks and to seek independent advice relating thereto. You should not trade with money that you cannot afford to lose .The Autochartist service and its content should not be construed as a solicitation to invest and/or trade. You should seek independent advice in this regard. Past performance is not indicative of future performance. No representation is being made that any results discussed within the service and its related media content will be achieved. All opinions, news, research, analyses, prices or other information is provided as general market commentary and not as investment advice. Autochartist, MDIO Software, their members, shareholders, employees, agents, representatives and resellers do not warrant the completeness, accuracy or timeliness of the information supplied, and they shall not be liable for any loss or damages, consequential or otherwise, which may arise from the use or reliance of the Autochartist service and its content.

CHF/JPY недавно завершил высокооднородную фигуру Нисходящий Треугольник идентифицированную Autochartist на дневных шарфиках. Autochartist оценивает Качество этой фигуры на уровне в 4 деления, как результат низкого Начального Тренда и Ясности (оцененные на уровне в 3 деления соответственно) и значительной Однородности (8 делений). Эта фигура продолжает резкий предыдущий нисходящий ценовой импульс от сильного уровня сопротивления на круглом уровне 100.00. Первые соединительные точки верхней и нижней трендовых линий этой фигуры (токи А и С) ограничивают ясную коррекцию ABC (к вышеупомянутому предыдущему нисходящему ценовому импульсу), которая была завершена последующим нисходящим ценовым импульсом фигуры (от A до D).

Обе соединительные точки нижней линии поддержки этого Нисходящего Треугольника (точки C и D) образовались когда пара скорректировалась вверх от сильной области поддержки возле ценового уровня 82.00. Последний Прорыв нижней линии поддержки фигуры совпал с прорывом 82.00. Ожидается, что пара продолжит нисходящее движение в направлении Области Прогноза расположенной между ценовыми уровнями 76.93 и 79.54.

Для получения более подробной информации об этом и других продуктах Autochartist посетите наше Сообщество Трейдеров на www.autochartist.com.

By Jonah S. Ford 

Cocoa futures pushed lower in Wednesday’s session to close beneath key level support on the long term chart. Autochartist has identified this move as a downside breakout from a Descending chart pattern, implying a continuation of the sell-off towards new lows.

This pattern has been developing over the course of 30 4-hour candles, making it the dominant technical formation. The flat bottom of the wedge has acted as support through multiple corrections. The break beneath the level occurred on a low momentum reading, which suggests traders should await further weakness in Thursday’s session to confirm the sell signal.

If the anticipated follow-through materializes, the market should drop to the projected price target of between $1,930 and $2,015 per metric ton to complete the breakout.

If buying pressure does enter the market near the current price level to pull the market back into the Descending Wedge, a retracement back to resistance at $2,140 per ton would be the expected move. This would prolong the development of the wedge and set up another signal on a futures move accompanied by a higher momentum reading. 

For further information on this and other Autochartist products, visit our website at www.autochartist.com

DISCLAIMER: The Autochartist service includes chart pattern identification in respect of foreign currencies, commodities, equities and stocks. There are potential risks relating to investing and trading. You must be aware of such risks and familiarize yourself in regard to such risks and to seek independent advice relating thereto. You should not trade with money that you cannot afford to lose .The Autochartist service and its content should not be construed as a solicitation to invest and/or trade. You should seek independent advice in this regard. Past performance is not indicative of future performance. No representation is being made that any results discussed within the service and its related media content will be achieved. All opinions, news, research, analyses, prices or other information is provided as general market commentary and not as investment advice. Autochartist, MDIO Software, their members, shareholders, employees, agents, representatives and resellers do not warrant the completeness, accuracy or timeliness of the information supplied, and they shall not be liable for any loss or damages, consequential or otherwise, which may arise from the use or reliance of the Autochartist service and its content.