Pivot Points Indicator by ActivTrades

The competitive online broker ActivTrades offers numerous very useful and helpful trading tools for both the MetaTrader 4 and MetaTrader 5 trading platforms, and the Pivot Points Indicator is one of them. Pivot points are often used by professional traders as a predictive indicator of market movements and now you have the opportunity to use this specially developed for MT4 and MT5 indicator to do the same. 

The Pivot Points Indicator displays three levels of Support and Resistance. The lines displayed on the chart 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.

Learn more about the Pivot Points Indicator and access it here.

EUR/CAD Is Bearish

EUR/CAD moved sharply to the downside today, after forming a rather impressive shooting star candlestick on the four-hour time-frame below the resistance at 1.4980. Currently the pair is testing the support at 1.4890, which coincides with the (MA)89 indicator on the same four-hour time-frame. A breakout below that level could lead to a further move to the downside towards 1.4800, and a breakout below that level in turn could be a signal for another drop towards the previous low at 1.4725, which is visible on the daily time-frame and has formed slightly above the (MA)89 indicator on the same time-frame.

EUR/USD Continues Moving to the Upside

The EUR/USD move to the upside started on Monday and continued for the past two days. The pair not only reached its closest target 1.1300, but it broke out above that level and continued rallying, reaching a new high at 1.1387. The pair remains very bullish for now and the move to the upside will likely continue at least until EUR/USD reaches 1.1550 or even the last high at 1.1615. Whether the overall move to the upside will continue past those levels is unclear, considering the wide and long-term sideways consolidation that is obvious on the monthly time-frame. If the pair bounces off the aforementioned resistance levels it could retrace back to 1.1400 or 1.1300.