Pivot Points Forex Strategies

The Euro took the offensive against the US Dollar last week, but the road ahead for EUR/USD remains tough due to ECB and Fed monetary policy divergences.

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The claw back from Euro bulls this week may be fleeting as markets prepare for a Fed rate hike.

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It is difficult to tell what role the Dollar will play in the global financial system heading into the second quarter of 2022. On the one hand, traditional risk assets have held back the tide of a more prolific collapse while interest rate expectations have exploded higher. Alternatively, there exists a growing din of concern that markets have over-reached in the post-Great Financial Crisis run and a necessary ‘de-risking’ has yet to occur.

The chart was made on weekly timeframe of Metatrader by using AllPivots indicator (attached).

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If you look at the change over the last five and ten days, too, the stock has lost -7.9% and -9.4% respectively, underperforming the broader markets on both occasions.

Daily price is on secondary correction within the primary bullish trend: the price was bounced from 357 resistance level to below for 303 support level to be tested to below for the possible daily bearish reversal to be started. Alternatively, the price will be on bullish ranging within the levels.

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The stock finished lower yet again on Wednesday after consumer prices came in higher than expected, and although experts think inflation may have peaked, the Federal Reserve may still need to raise rates more aggressively as it will take quite some time to return to normal levels.

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Shares of Tesla plunged to an 11-month low on Tuesday.

Daily chart was bounced from 1,152 resistance level to below for the 200 SMA breaking to below for the primary bearish reversal. The price is trying to cross the bearish triangle pattern with 633 support level to below for the bearish trend to be continuing. Conclusion: daily bearish or daily ranging bearish.

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The Dollar performed exceptionally well through the first half of 2022 – and more broadly over the preceding year. The fundamental stars aligned between a leading Fed tightening regime, perceptions of a greater cushion for the US economy amid forecasts of a global slowdown and the reliability of the currency’s renowned safe haven status - all of these elements are still in play heading into the second half of the year, but the relative potential has deflated.
By the way, the weekly price is breaking the 3rd resistance of the yearly Pivot to above for the primary bullish trend to be continuing.

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The Australian Dollar finished higher last week after US inflation data excited markets and sent the US Dollar lower, lifting AUD/USD. Will the US Dollar dominate AUD/USD?
The daily price broke Ichimoku cloud to above for the primary daily bullish reversal. The price is testing resistance level at 0.7135 to above for the bullish trend to be continuing.

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Basically, this material is intended for those who have little or no knowledge of MQL5 or programming in general.
Most of these people are enthusiasts looking for a basic guide to take their first steps in programming. So, this article is dedicated to all of you, enthusiasts and novice MQL5 programmers willing to learn MQL5 programming.

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