Pivot Points Indicator - ActivTrades'trading tool

My broker, ActivTrades, offers many trading tools to enhance your trading. Among them the Pivot Points Indicator is my favorite. It is developed for both MT4 and MT5 platforms and is very hepful for predicting market movements.

The Pivot Points Indicator displays three levels of Support and Resistance. The lines displayed on the graphic represent the Pivot Point (Orange) as well as Support and Resistance levels (Dark Blue, Maroon and Green). If the price is above the Pivot Point, the market is usually considered as bullish, whereas price below the Pivot Point is usually seen as a bearish market. Supports and resistances help determine potential reversals levels of the current market trend.

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Volatile week for Chinese indices

Asian indices closed the week mixed, having  Chinese stocks higher and Japanese almost unchanged. Meanwhile oil is staying below $43 per barrel, even though it stopped depreciating.

US indices ended in a minimal negative territory after trading on Friday with plus and fell in the last minutes.

Investors are beginning to worry about the state of the US economy  as the situation is not so good as described by Janet Yelton, and that inflation targets may not be as fast as the Fed expects.

Or in other words, we may nit witness a third increase of interest rates by the end of the year.

The Chinese indices had a volatile week, supported by MSCI's decision to include local stocks in the indices. But afterwards they marked a decline as a result of the news that the government has strengthened the control and regulation of the largest companies with international business. Chinese regulators ordered Weibo Corp and another two Internet media companies to stop broadcasting video and audio, accusing them of operating without a license and disseminating opinions that are potentially harmful to the country's social stability.

EUR/USD closed higher

After a relatively bad week, the EUR/USD pair closed higher, close to 1.12 handle. On Friday session the pair gained around 50 pips and erased the losses. 

Technically speaking the four hour time frame is showing some vital signs for the bulls. RSI has moved above its mid-lines, but has lost directional strength. Stochastic is located within extreme overbought territory and is displaying strong upward strength.

Short term outlook has switched to bullish with first bull’s target seen at 1.1210 (200-day SMA).

EUR/USD Slightly up today

Recently EUR/USD is seen in consolidation within a relatively wide range between June’s high and  low, respectively at 1.13 and 1.1118.
Today the pair is slightly up, having marked around 0.10% higher with current market price 1.1143. In term of marco news, this week is not offering much except US home sales figures for May, that will be released later on today. In case of positive numbers, the pair could take interesting move, but more interesting now is DXY’s and yields’s performance which are much more now supporting the greenback.

Despite the intraday uplifted mood, technically speaking the bears are ruling the game.

On the four-hour time frame the price is developing around the 200-day SMA but below the 20-day and 100-day SMAs. RSI has retreated from oversold area and is nearing its mid-line. Stochastic is uptrending, but remains below its mid-line. 

Immediate support is seen at the critical 1.1110 level and in case of breaking it, additional declines are expected. 

Cable slumped due to political turmoils

Cable is trading today at lowest levels, even lower since the snap election notice from 18th if April. Ahead of Wall Street opening the GBP/USD recovered some of the losses and is currently trading at 1.2621. 

BOE's Governor Mark Carney speech set under huge selling pressure the Pound, keeping dovish mood on interest rate amid the Brexit drama. 

Meanwhile the negotiations between the Northern Irish DUP  and Prime Minister May's Conservatives are not developing in an the expected way.  

On the other hand, the US dollar is seen stronger having DXY up 0.29% today, which additionally makes the Pound suffer.

Technically speaking, the four-four time frame is showing strong bearish signs. The price has crossed to below the 20-day SMA, which has turned to bearish side. RSI has retreated from its mid-line and has declined to negative territory. Stochastic is located within extreme oversold area and is displaying lack of momentum. 

It seems that the Cable is gathering bearish momentum before starting correction.

Aussie is hovering around 0.76

The Aussie started the new week optimistically and was seen above the 0.76 mark during the early trading hours. But some bad marco data from Australia slightly sloped to downwards the pair and the current market price is 0.7595. 

RBA Governor Lowe’s speech last night pointed out the uplifted employment along with the growing concerns about political opposition to reform energy investment that might reverse the ongoing increase in economic climate. Meanwhile Moody downgraded from Aa2 to Aa3 the credit rating of four of the major Australian banks due to elevated risks in households. 

Technically speaking the four-hour time frame is showing mixed signs. The price has crossed to below the 20-day SMA while the 100-day and 200-day SMAs are maintaining bullish stance.

RSI is located close to its mid-line and is displaying bearish momentum. Stochastic has retreated from overbought area and is also nearing mid-lines whit sharp turn to south. 

Regardless of the bearishness during the upcoming hours, the pair is not going to be affected. Aussie is gaining strength to fight the first resistance at 0.7635 with next bulls’ target seen at 0.7680.

The Key For Knowledge - ActivTrades Feature articules

Knowledge. A very powerful word. First known from 14th century. In Middle English knowlege, from knowlechen to acknowledge. Meaning lore, science, wisdom. 

Nowadays the knowledge is the most valuable asset. Modernity has evolved and is proposing so many sources of information. Surfing around the web you may find so implicit and explicit kind of knowledge. 

To be a really good trader most matters to be informed and to learn more. You must care for what you know. Technicals and funadamentals do not cover your needs as they do not show the  wide-scale picture. There are some different factors and events that influence markets in provocative and unexpected way. Corporate news, politics, economy, worldwide trade conditions. Even some major political figures performances effect on markets. 

My broker, ActivTrades, always meets my expectations and needs as is fully packed with so much information. The knowledge I need. And what I hadn’t even known that  I need. 

The various  featured articles provide such information as how the UK general election are affecting the markets and how the GBP/USD would develop further. The French presidential election and its effect on CAC 40 and EUR/USD, or any of furtehr upcoming events that might significantly influence the markets. 

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USD/JPY Retreats after having marked fresh 2-week high

Central Banks' decisions from past days boosted USD/JPY and today the pair marked fresh new two weeks high at 111.40. Fed announced that will lift up the interest rate with another 0.25 and BoJ hinted about a chance in the future to retrieve easing and holding the monetary policy steady.

However, the optimistic mood didn’t last long and ahead of Wall Street opening the pair dropped to currently trade at 110.74. It seems that bulls couldn’t conquer the critical resistance at 111.50, where now is located the 200-day SMA. 

The four-hour time frame is showing bullish 20-day SMA while the 100-day SMA is staying flat at 110.45 and is acting as a dynamic support. 

RSI and stochastic had retreated from the extreme overbought territory. Both are yet well above their mid-lines but has started to turn to south. 

As the pair broke the support at 110.90, doors are now opened for testing the next one at 110.56 (the intraday low).

EUR/USD Lower

Bears took back the control on EUR/USD and the pair is seen today at lowest levels for this month.
The hawkish stance on the monetary policy released by Fed yesterday supported the US dollar, while the single currency is suffering double with the worse than expected numbers on the EU trade balance for April.
Ahead of the Wall Street opening the pair continues to decline and the current market price is 1.1153.
On the four-hour time frame the price has crossed to below the 20-day and 100-day SMAs with both starting to turn south.
RSI and stochastic are located within extreme oversold area and are showing strong bearish momentum.
The pair is heading to 1.1120/30 region, where the 200-day SMA ia acting as a dynamic support. Next support is seen at late May’s low (1.1075).
It's not sure when the bulls would reverse the pair to higher levels, but at least we may witness next week a bounce back to the range. For now the short-term outlook remains bearish.

Rise and fall

During the European session gold price skyrocketed and tested the $1280 area. It is quite explicable as the precious metal is moving opposite to the US dollar, that was seen weaker today because of a set of disappointing data out of the USA right before the FOMC. 

After Fed’s rate decision bears took back the control and dragged rates down and the current market price is $1257. So after marking five-day high, XAU/USD lost %0.65 or around $8 for the day. 

On the four hour time-frame the price surpassed to below the 20-day and 100-day SMAs and meanwhile remained above the flat 200-day SMA, which is acting as a strong support, currently being at $1255. 

RSI moved today slightly above the mid-line but later had sharply turned to south. Stochastic had retreated from the extreme overbought territory and is displaying strong bearish momentum. 

First support is located at $1255 and next is seen at $1240.Looking to the upside resistance is seen at $1269 (100-day SMA) higher at $1280 (the intraday high). 

Ave Ceasar!

Build yourselves strong drinks. Enjoy summertime in the city park. But be aware. You might be shaken, not from the drink, but from what you might see and learn. 

Trump has been shaped millennia ago today. According to New York City’s Public Theatre. For its annual Shakespeare in the Central Park the theatre presented William Shakespeare’s 1599 play Julius Caesar. 

Isn’t it ironic? 

I wonder if actors have ever paid attention to the Western literature. It’s a disaster. Shakespeare is a titan. He made a lasting impression on later theatre and literature. A man who changed the viewpoint on romance by showing it as a worthy topic for tragedy deserves much more respect and creativity on how to be performed nowadays.  

Veni, vidi, vici! 

Well Trump came to power, saw the intricacy of being President of Unites States, but conquered only the stage.

No doubt this version of Julius Caesar will be credited as gusty, timely and incendiary.
But this art is boring and the creativity is irrelevant. 

GBP/USD Remains under pressure

UK election results dragged the Cable towards deep waters and the GBP/USD marked low at 1.2632. The pair bounced to the upside but however closed at 1.2742. 

Uncertainty is affecting widely on the pair, as Theresa May failed to ensure the needed support to come to a deal with the European union and has lost seats at the Common House and is lack of majority.

Technically speaking, the short-term is likely to remain bearish. On the four-hour time frame the price is moving well below its moving averages. 

RSI and stochastic had corrected from the extreme oversold readings and are more likely to support a new leg towards the downside. Both indicators had lost directional strength but yet remain well below their mid-lines. 

The political uncertainty has not disappeared and the Cable will be under pressure in the near future. And besides UK, the pair will be affected by next week’s FOMC decision. 

USD/JPY Retreated from the weekly high and closed lower

On Friday the USD/JPY climbed to its highest level for the last three days at 110.70, but during the American session dropped, erasing most of the gains and lower at 110.30. 

On the four-hour time frame the price is moving below the 100-day and 200-day SMAs and the 100-day SMA is acting as a dynamic resistance, currently being at 110.90.

RSI and stochastic retreated from the extreme overbought area, although remain above their  mid-lines and are displaying bearish momentum.

The pair is facing strong resistance at 61.8% Fibonacci retracement of latest April to May up leg at 110.50. Should the pair succeed to break above, we have chances to see bulls back. 

Next week the pair will be quite vulnerable having the Federal Reserve meeting on Wednesday and the Janet Yellen’s press conference. A rate hike is expected and so there will be huge impact on the currencies.

An unusual Thursday ahead

Lately markets are living on the edge over everything from terror attacks in London,  Middle East’s uncertainties, the turmoil surrounding Trump’s administration to the dramatic UK elections.

But at this very moment the tension on markets is extremely rising ahead of very unusual Thursday, as we have three quite important events.

The official views on inflation will be reveiled on the European Central Bank’s meeting and most important is will there be any change in its easing stance. Hopes somehow have been reinforced by the hawkish position of policymakers, but let’s see if Super Mario will keep his dovish stand about  QE, considering the attempts to down-talk the possibility to trim easings.

Next to come is the former FBI Director James Comey 's testimony. In case he state that US President Donald Trump had asked him to avoid investigating the "Russia-gate", possible impeachment issue will be on focus. Markets do not care much about politics as there is no huge impact in economy, but I expect that US dollar will be sent down across the board.

Alongside with the ECB and Comey’s testimony, this Thursday the UK will have their General Election. Current polls show Conservatives 44 pct and Labour on 34 pct. Conservative victory with or without absolute majority or laborist victory? Whatever happens there are no doubts that high volatility is guaranteed. 

EUR/USD Range bounded ahead of critical events

Ahead of the important macro events this week ,the EUR/USD pair seems to range bounded. 

On the four-hour time frame the price is gravitating around the 20-day SMA, which is keeping its bullish stance and is well above the 100-day and 200-day SMAa, that are also strongly heading to north.

RSI is located above its mid-lines, but has lost directional strength. Stochastic is displaying slight upward strength and is marking lower lows.

The risk to the downside remains limited until the pair holds above the 1.12 handle. But to confirm strong bullish run is needed a break through the 1.13 mark.  

USD/JPY Risk remains towards the downside

The quite US data and the stable treasure yields supported today the Japanese Yen and moved USD/JPY towards 110.70, but however the pair is about to close around 110.40.

Short term speaking from technical view point, the risk remains towards downside. The price is currently developing slightly below the 61.8 % Fibo of latest April to May up leg. The four-hour time frame is showing that the 100-day SMA has crossed to below the 200-day SMA, whilst the 20-day SMA has turned to south and all of them above the current price level.

Indicators are located within extreme oversold area with RSI close to 40 and having lost directional strength, while stochastic close to lowest its level and yet is displaying bearish signs. 

Strong support is seen at 110.13 (50% Fibo of same retracement) and lower at 109.30 (April’s lows). Looking to the upside, the pair is capped by the 61.8% Fibo at 110.60. Bears are going to ease only if surpassing the 112.00 handle. 

EUR/USD Bulls are anxious ahead of ECB next week

EUR/USD rallied during the past week and marked fresh new yearly high at 1.1282, supported by US dollar’s weakness that came after the bad NFP numbers. 

But the week ahead is going to bring important macro events that will affect the pair. Next Thursday will be held the ECB monetary policy meeting and same day we have the UK general election. 

Technically speaking, the pair is keeping its bullish run, but yet remains capped by the psychological level at 1.1300.

On the daily chart the 20day SMA is at strong bullish stance with the price developing above it and the 100-day and 200-day SMAs.

Indicators are showing extreme overbought conditions and are supporting additional gains onward.

Immediate support is located at 1.1200, next is seen at 1.1120 (the weekly low). The rally could be extended is conquering the important 1.13 mark and then next bulls target will be 1.1435.

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EUR/USD in anticipation of NFP to set direction

Today the EUR/USD pair closed slightly lower, having that the greenback found some support with better than expected ADP employment numbers.  
Technically speaking, the bulls are not out of the game, as yet the pair is not showing strong bearish signs, considering its closeness to 2017 highs.The four - hours time frame is displaying that the price is currently situated above its 20-day, 100-day and 100-day SMAs, but however all of them are loosing strength. 

RSI is slightly above its mid-lines is looking now for direction. Stochastic is also above its mid-lines, but has turned sharply to south.   
I think that more clear direction will be set with the outcome of the NFP data with expectations of upside development for the pair.