Friday, 23 March 2018

ActivTrades Tools I SmartLines

Forex trading often requires staring at the screen and switching between different charts. Are you tired of constantly monitoring your charts for any relevant changes?  Do you successfully identifying entry points for buy and sell orders?

Time is the most precious asset and this is particularly important when trading. That’s why we must be aware of the latest applications and new opportunities that provide better trading solutions in order to save time and help traders to be more successful. 

My broker, ActivTrades is offering SmartLines - a state-of-the-art and yet incredibly easy to use application for MetaTrader 4 and MetaTrader 5 which enables automated execution in the chart based on pre-defined Trendlines.

This excellent tool will save you time and will help you to identifying entry points for buy and sell orders, as well as deliver a precise execution with no delay in time.
With the help of SmartLines you can follow and manage multiple charts simultaneously, with pre-set automatic Stop Loss/Take profit set up for each one.

SmartLines is an amazingly great tool that I highly recommend it if you are willing to simplify your trading and take it to a different level!

Thursday, 22 March 2018

USD/CAD Rebounded from the post-FOMC lows

USD/CAD suffered huge drop yesterday because of the main markets’driver - the Fed's rate hike. The pair extended its downward slope to mark an intraday low at 1.2825 but it seems that markets already digested the news and the US dollar started to recover. And this combined with weaker oil prices that weigh on the Canadian dollar pushed the pair back above 1.2900.
On the four hour time frame the price has is developing below the bearish 20-day SMA and slow bearish 200-day SMA. RSI and stochastic have retreated from their extreme oversold readings and both are showing strong upward momentum.
Currently the pair is trading at 1.2905 but according to indicators has potential to move higher. First target comes at 1.2925 – 1.2935 – 50% Fibonacci retracement of latest 2017 bearish run and also flat 100-SMA. Further on bulls should aim 1.2950 – 1.2960 are and with a break to the upside doors are opened for testing the psychological 1.3000 hurdle.
The downside is supported by 1.2825 (the daily low) and lower at 1.2800 (last week’s bottom).

Wednesday, 21 March 2018

EUR/NZD Pushing higher

Last week EUR/NZD was trading lower as New Zealand GDP missed market expectations. The pair bottomed at 1.6840 -1.6810 area where met the bullish trend line, starting from February 2017. So after testing for a while this significant support level finally bulls prevailed and during last sessions are showing strong upward strength. Today the pair broke the 2018 high at 0.7132 and currently is trading at 1.7154.
Technically speaking the short term outlook remains bullish.
On the four hour time frame the price is developing well above its bullish moving averages. RSI and stochastic are located within extreme overbought territories and both are showing strong upward momentum.
Given the above EUR/NZD has potential to accelerate further and mark new highs. First resistance is seen at 0.7250 and a break above it will open doors for testing 1.7482. Meanwhile the
upcoming session will bring the latest RBNZ monetary policy announcement with expectations to keep rates unchanged at 1.75% especially after the weak GDP numbers from last week, which will additionally support the New Zealand bulls. 

Tuesday, 20 March 2018

AUD/USD Looking for new support

Since last Wednesday the AUD/USD pair reversed the trend and switched into bearish mode.Today the pair extended its decline and marked fresh new low at 0.7678, where currently is located. 
During the early trading hours Aussie topped at 0.7720 being supported by the upbeat macro data from Australia combined with the latest RBA minutes, reconfirming that low interest rates support the economy recovery. It will be interesting to observe the pair during next session as meanwhile the US dollar is consolidating gains ahead of FOMC meeting tomorrow.
Technically speaking the short term outlook remains bearish. On the four hour time frame the price is developing well below its bearish moving averages. RSI and stochastic have settled within extreme negative territories with first staying directionless around 30, and second aiming even lower. 
Last week the pair broke significant support level provided by the 61.8% Fibonacci retracement of latest bullish run (0.7500 -0.8135) at 0.7750 and this opened doors for the further decline that currently we are witnessing. From this point Aussie now is looking for new support and in case drops below the daily low, such could be found at 0.7630 (Mid December 2017 lows).

Monday, 19 March 2018

USD/CHF Swinging back and forth around 0.9500

After suffering sharp downfall the USD/CHF pair reversed the trend in mid February. Currently the price is hovering around the psychological 0.9500 hurdle also 38.2% Fibonacci retracement of latest October 2017 to February bearish run. Bulls had tried to push higher and tested several times the 0.9550 area but it seems that do not have enough power to break-out to further highs and after have been swinging back and forth returned to the sheltered area around 0.9500.
While the short term bullish outlook develops, the long term remains bearish. The Swiss Frank has taken a break, but on the other hand the greenback is gathering strength having DXY at some 90 and the upcoming Fed’s rate hike. From this viewpoint to confirm a bullish continuation the pair should leave the inhabited area and to turn it into support and fight the 0.9550 level.  
Alternatively the swing-low at 0 .9480 could open the doors for testing 0.9420 and in case this happens the bearish tonality will sound again. However I hope this undecided situation to come to an end next days having generous macro data from both sides and a new catalyst to set more clear direction.

Friday, 16 March 2018

NZD/USD Bearish after soft GDP

The NZD/USD pair has been trending higher since the beginning of March and has entered into bullish channel, which was clearly broken after the New Zealand's GDP figures for the final quarter of 2017 turned to be a miss. Today the Kiwi continues to depreciate after breaking the support at 0.7250 and currently has settled at 0.7241.
Technically speaking the short term outlook remains neutral to bearish. On the four hour time frame the price is developing well below its moving averages having already bearish 20-day SMA, while the 100-day and 200-day SMAs are staying flat around respectively 0.7280 and 0.7300. RSI and stochastic are located within negative territories and both are showing strong downward momentum.
At this point  there is not much in the way of the bulls unless first retaking 0.7300 area, where is the bottom border of the channel and next 0.7350. On the flip side, it seems that
the bears have taken a victorious march after breaking 0.7240 and obviously next target is 0.7200.
But will the pair succeed to break this hurdle will become clear next week when both FOMC and RBNZ rate decisions are due and that might be the catalyst for the next downward move.