Month: February 2011

By Greg Holden

After this past week’s surging price of precious metals, traders appear to be expecting some level of retracement in value for Silver.

In an earlier article it was argued that Silver prices may outpace the spiking price of Gold, which has so far panned out. Gold reached just shy of its all-time nominal high, whereas Silver jumped to a 30-year peak and held steady, for the most part.

As of yesterday, however, Silver prices appear to be coming back down. So far, it seems, there appear to be two fundamental factors and one technical aspect fueling this retracement.

First, profit-taking among the precious and noble metals yesterday constituted the bulk of the sudden plummet in Silver prices. As several industries which apply Silver in their production posted above-expected profits in Q4, many analysts seem to be anticipating a pull-back as part of an impending cyclical downturn.

Second, the flaring tensions in Libya, which have driven oil traders bonkers this week, have also created a capital shift towards safe-haven stores of value, like Gold. Gold’s upward mobility pulled other associated metals higher along with it, but Silver’s spike was given impetus by a multitude of other factors associated with growth among industry and hi-tech.

As long as Libya’s president, Muammar Qaddafi, fights to hold onto power, commodity prices will likely continue to find support. But traders should be cautious since revolutions like those spreading throughout the Middle East may end as abruptly as they began, creating a whiplash turnaround in market activity.

Australia’s central bank governor, Glenn Stevens, warned of such sentiment recently by calling on markets to begin pricing in the impending correction to the latest surge in asset prices. Gov. Stevens’ concern is connected to the fact that Australia’s economy is closely aligned with the value of precious metals and an overextension of investment could create a nasty backlash on the Economy Down Under.

The technical factor is, as usual, a theoretical prediction. The daily and weekly charts on Silver show what may end up being the first shoulder and the head of a head-and-shoulders formation. If true, we may expect a retracement back towards $27 before a secondary surge, likely reaching as high as $31. If it does end up being such a formation, we may see Silver prices breaking out of its uptrend over the next few months, possibly falling back into the low $20s.

Silver – Weekly Chart

Forex Market Analysis provided by ForexYard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

Feb. 25 (Bloomberg) — Beat Siegenthaler, a senior foreign exchange strategist at UBS AG, discusses the outlook for the euro. He talks with Linzie Janis on Bloomberg Television’s “Global Connection.”

The US dollar remained under pressures on Thursday and fell to its ever low versus the Swiss franc. The investors were more focused towards the Japanese Yen and Swiss franc as the surge in oil price made them to look for other safe haven investments.

Moreover the recent hike in US Treasury yields further added to the misery of the greenback as both currencies the Yen and Swiss franc are highly sensitive to US interest rates.

The US dollar declined to 81.92 versus the greenback on Thursday as compared to 82.46 on Wednesday’s North American trading session. The US dollar declined to it’s ever low against the Swiss franc on Thursday and reported the fall of 0.6 percent to 0.9316. The greenback touched it’s lowest of 0.9238 in yesterday’s trading session.

The dollar index DXY which measures the US dollar’s performance versus its major six rival currencies fell to 77.086 as compared to 77.373 on Wednesday.

In opinion of most analysts the Forex market currently seem highly sensitive to US Treasury yields in reaction to which the yen and the Swiss franc are most favorable choices.

The US dollar also weakened against the Euro and British Pound as European Central Bank and Bank of England both are opting for tightened monetary measures like increase in interest rates to address the regions sovereign debt problems. The Euro gained to 1.3802 against the US dollar as compared to 1.3761 on late Wednesday while the British Pound traded around 1.6139 versus the greenback on Thursday slightly changed as compared to 1.6211 on Wednesday.

About the Author

Daily forex trading news written by Rehan from DailyForexTrade.com

By GCI Forex Research

Fundamental Outlook at 0800 GMT (EDT + 0400)

USD

The dollar continued to surrender ground during the Asia session, and USDCHF set a new all-time low. EURUSD traded 1.3787-1.3838, USDJPY traded 81.68- 82.07. The euro and sterling remain supported by the prospect of rate hikes to tame inflationary pressures, especially as oil prices stay firm due to tensions across the Middle East and North Africa. Even a better initial jobless claims could not boost the dollar as Treasury yields remained subdued and oil prices elevated. Jobless claims fell more than anticipated, continuing the recent downtrend. January headline durable goods orders rose, while orders ex-transportation were much weaker. New home sales also fell more than expected, declining 12.6% m/m. St Louis Fed President Bullard, a non-voter in 2011, said the economic outlook has improved since QE2 was announced and that “the natural debate now is whether to complete the program, or to taper off to a somewhat lower level of asset purchases.” Our analysts team notes that this is significant because he is historically a hawk but has been very supportive of the QE2 program. He isn’t making a strong argument for curtailing the QE2 program, but is certainly highlighting the risk that the Fed might do that.
EUR

Bundesbank President Weber said interest rates can only go up in the future, which briefly boosted the euro. Bundesbank board member Dombret was also hawkish, saying that second-round price effects cannot be ruled out.
German GDP for Q4 was confirmed at 4.0% y/y, 0.4% q/q, driven by strong export growth and public spending. Our European economists note that the release shows a less balanced growth picture than in Q3, with capex down and private consumption sluggish.
Italy is planning on selling approx. EUR5 bn in 2021 bonds, EUR3 bn in 2013 bonds and EUR1.5 bn in 2017 bonds. Recent auctions have gone well, though their impact on euro sentiment has diminished given that rate hike expectations are currently dominant. Our fixed income strategy colleagues point out that the behaviour of Italian spreads appears to have become more ‘core-like’ over the past year, which could mean these auctions are well received.
GBP

BoE MPC Member Sentance stuck to his hawkish line repeating that the time has come to increase interest rates. Fellow policymaker Posen said that his view on the need for more Gilt purchases has not changed.
We expect no revision to Q4 GDP growth. The initial estimate severely disappointed, triggering a sterling selloff. However, today sterling is likely to remain supported as the market continues to focus on the prospect of an early BoE rate hike.
CHF

We expect a slight dip in the KOF leading indicator but external developments remain the key driver for the Swiss franc these days, as it continues to benefit from safe haven flows. Nevertheless, keep an eye on the data as an accommodative SNB and the end of Swiss economic outperformance could put some downward pressure on CHF.
NZD

An RBNZ spokesman denied speculation that the RBNZ is planning to hold an emergency policy meeting to address the aftermath of this week’s earthquake.
S&P became the third major ratings agency to say that New Zealand’s credit rating has not been affected by the quake.

TECHNICAL OUTLOOK
USDCHF clears 0.9329/01.
EURUSD BULLISH Rise through 1.3744 exposes 1.3826 and 1.3862 next. Near term support is at 1.3647.
USDJPY NEUTRAL Decline through 82.34 has exposed 81.78, while resistance lies at 82.89.
GBPUSD BULLISH Bullish pressure holds below 1.6279/99 resistance zone. Near-term support comes in at 1.6101.
USDCHF BEARISH Negative momentum continues; breach of 0.9329/01 support area has exposed 0.9241. Near-term resistance at 0.9506.
AUDUSD NEUTRAL 1.0158 and 0.9944 mark the near-term directional triggers.
USDCAD BEARISH Initial support is at 0.9816 ahead of 0.9745/12 area. Resistance at 0.9959.
EURCHF BEARISH Push below 1.2774 would expose 1.2709. Initial resistance at 1.2958.
EURGBP NEUTRAL Move above 0.8514 would expose 0.8533. Near-term support lies at 0.8384.
EURJPY BULLISH Focus is on 114.19, breach of this level would expose 114.94. Support holds at 112.09.

Forex Daily Market Commentary provided by GCI Financial Ltd.

GCI Financial Ltd (”GCI”) is a regulated securities and commodities trading firm, specializing in online Foreign Exchange (”Forex”) brokerage. GCI executes billions of dollars per month in foreign exchange transactions alone. In addition to Forex, GCI is a primary market maker in Contracts for Difference (”CFDs”) on shares, indices and futures, and offers one of the fastest growing online CFD trading services. GCI has over 10,000 clients worldwide, including individual traders, institutions, and money managers. GCI provides an advanced, secure, and comprehensive online trading system. Client funds are insured and held in a separate customer account. In addition, GCI Financial Ltd maintains Net Capital in excess of minimum regulatory requirements.

DISCLAIMER: GCI’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be U.S.ed as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

Source: ForexYard

The yen was about 0.4% from its strongest level in three weeks against the dollar and the Swiss franc climbed to a record as an uprising in Libya sent oil prices to a 29-month high, boosting demand for safe haven assets.

Economic News

USD – Dollar Weakens on all Fronts

The dollar fell broadly against most of its major currency pairs on Thursday, with further losses seen as likely, pressured by a surge in oil prices as investors feared civil unrest in Libya could spill over to other top producers including Saudi Arabia. By yesterday’s close, the USD fell against the EUR, pushing the oft-traded currency pair to 1.3800. The dollar experienced similar behavior against the JPY and closed at 81.85.

The safe-haven Swiss franc, on the other hand, hit a record high against the greenback, benefiting from the ongoing geopolitical turmoil in the Middle East. The franc has gained in eight of the last nine sessions versus the dollar. In the last two weeks, the Swiss currency has gained 5.1% so far, its best showing since late June last year.

A leading indicator released yesterday was U.S. Unemployment Claims. This number handedly beat last week’s result but failed to provide strength to the Dollar as investors may be waiting for key data due to be released today to implement their trading strategies.

Looking ahead to today, there are several important news releases coming out of the U.S. These include the Prelim GDP and Revised UoM Consumer Sentiment at 13:30 GMT and 14:55 GMT respectively. Better-than-expected results may help the Dollar recover some of yesterday’s losses against some of its crosses such as the EUR and JPY. On the other hand, if the results turn out to be lower than forecasts, then the Dollar may record a fairly bearish session in today’s trading. Traders should pay close attention to the market as there is an opportunity for traders to capitalize on the fluctuations which are likely to follow these releases.

EUR – German Prelim CPI on Tap

The euro extended gains versus the U.S. dollar to hit a session high during early trading on Thursday on expectations interest rates in the euro zone will rise earlier than those in the United States. The euro rose as high as $1.3819, its strongest level since Feb. 3, before retreating to $1.3800, up 0.4% on the day.

A leading indicator released yesterday was the German Final GDP. Germany holds the largest and strongest economy in the Euro-Zone, and thus the relevant publications from this economy usually have a hefty impact on the EUR. The German economy may gather strength in the current quarter after the coldest winter since 1969 curbed construction activity in the final three months of 2010. Business confidence jumped to a record high this month and unemployment is the lowest in almost two decades. Bundesbank President Axel Weber last night indicated the central bank has raised its 2011 growth forecast to 2.5% from 2%. The economy expanded a record 3.6% in 2010.

Looking ahead to today, the most important economic indicator scheduled to be released from the Euro-Zone is the German Prelim CPI. Analysts are forecasting this figure to increase from its previous reading. Traders will be paying close attention to today’s announcement as a stronger than expected result may boost the EUR in the short-term. Traders are also advised to follow the Revised GDP figures coming out of Britain at 9:30 GMT, and the U.S GDP figures at 13:30 GMT as these results may set the EUR’s main currency crosses for the day.

JPY – Yen Continues to Strengthen

The yen experienced a bullish trading session yesterday, as it appreciated against most of its major currency pairs. The JPY extended gains versus the USD during yesterday’s trading session and closed at 81.85. The Japanese yen also saw bullishness against the GBP as it jumped around 90 pips and closed at 0.8560.

Investors worry over a recent rise in the JPY as it makes Japanese products less competitive abroad and hurts the value of overseas sales when translated back into the Japanese currency. With steady gains primarily against the Dollar, much of the Yen’s bullish movement could be contributed to the repatriation of overseas earnings by Japanese companies into the local economy. This has had a positive effect on major JPY currency pairings, as the rising turmoil in the market is leading to more investment in the Japanese currency.

OIL – Crude Oil Trades at 29-Month High

Crude oil jumped to a 29-month high of $103 a barrel , before retreating to $97.50 on Thursday, as investors weighed the risk of Middle East unrest spreading from Libya to bigger exporters including Saudi Arabia.

The standoff between an increasingly isolated Libyan strongman Muammar Gaddafi and rebel factions now in control of oil-rich eastern Libya has cut output in the world’s No. 12 crude exporter by at least 25%, or 400,000 barrels a day.

As for today, the US Prelim GDP will likely determine crude’s next move, with any mildly positive elements within them likely to keep the crude price on its upwards direction.

Technical News

EUR/USD

The EUR/USD cross has experienced a bullish trend for the past week. However, it seems that this trend may be coming to an end. For example, the 8-hour chart’s Stochastic Slow signals that a bearish reversal is imminent. A downward trend today is also supported by the 4-hour chart’s RSI. Going short with tight stops may turn out to pay off today.

GBP/USD

The GBP/USD has gone increasingly bearish yesterday, and currently stands at the 1.6140 level. The daily chart’s Slow Stochastic supports this currency cross to fall further today. However, the 2-hour chart’s Stochastic Slow signals that a bullish reversal will take place today. Entering the pair when the signs are clearer seems to be the wise choice today.

USD/JPY

The price of this pair appears to be floating in the over-sold territory on the 8-hour chart’s RSI indicating an upward correction may be imminent. The upward direction on the 4-hour chart Slow Stochastic also supports this notion. When the upwards breach occurs, going long with tight stops appears to be preferable strategy.

USD/CHF

The cross has been dropping for the past week now, as it now stands at the 0.9250 level. The Slow Stochastic of the 8-hour chart shows a bullish cross has recently formed, indicating that an upward correction is imminent. This view is also supported by the RSI of the 4-hour chart. Going long with tight stops may turn out to be the right choice today.

The Wild Card

Gold

Gold prices rose significantly in the last week and peaked at $1417 an ounce. However, daily charts’ RSI is floating in an overbought territory suggesting that a recent upwards trend is losing steam and a bearish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage.

Forex Market Analysis provided by ForexYard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

After this past week’s surging price of precious metals, traders appear to be expecting some level of retracement in value for Silver.

In an earlier article it was argued that Silver prices may outpace the spiking price of Gold, which has so far panned out. Gold reached just shy of its all-time nominal high, whereas Silver jumped to a 30-year peak and held steady, for the most part.

As of yesterday, however, Silver prices appear to be coming back down. So far, it seems, there appear to be two fundamental factors and one technical aspect fueling this retracement.

First, profit-taking among the precious and noble metals yesterday constituted the bulk of the sudden plummet in Silver prices. As several industries which apply Silver in their production posted above-expected profits in Q4, many analysts seem to be anticipating a pull-back as part of an impending cyclical downturn.

Second, the flaring tensions in Libya, which have driven oil traders bonkers this week, have also created a capital shift towards safe-haven stores of value, like Gold. Gold’s upward mobility pulled other associated metals higher along with it, but Silver’s spike was given impetus by a multitude of other factors associated with growth among industry and hi-tech.

As long as Libya’s president, Muammar Qaddafi, fights to hold onto power, commodity prices will likely continue to find support. But traders should be cautious since revolutions like those spreading throughout the Middle East may end as abruptly as they began, creating a whiplash turnaround in market activity.

Australia’s central bank governor, Glenn Stevens, warned of such sentiment recently by calling on markets to begin pricing in the impending correction to the latest surge in asset prices. Gov. Stevens’ concern is connected to the fact that Australia’s economy is closely aligned with the value of precious metals and an overextension of investment could create a nasty backlash on the Economy Down Under.

The technical factor is, as usual, a theoretical prediction. The daily and weekly charts on Silver show what may end up being the first shoulder and the head of a head-and-shoulders formation. If true, we may expect a retracement back towards $27 before a secondary surge, likely reaching as high as $31. If it does end up being such a formation, we may see Silver prices breaking out of its uptrend over the next few months, possibly falling back into the high $20s.

Silver – Weekly Chart

Listen to an updated outlook for 2011 from senior equity analyst Per Hansen.

Legal information

Video by en.jyskebank.tv/

By Sara Nunnally, Editor, Smart Investing Daily, taipanpublishinggroup.com

Back in September 2010, at our annual Taipan Publishing Group Global Opportunities Summit, I presented the “Lost Chapter” of Barbarians of Wealth.

Our executive publisher Sandy Franks and I had embarked on a mission of epic proportions. We dug through thousands of years of history, ages of ancient battles and modern-day assaults on American prosperity.

What we ended up with was a scathing report on how our government, our banks, the Federal Reserve and the filthy lobbying business all colluded to steal your wealth. We hunted through the annals of notorious barbarians like Genghis Khan and Rollo the Viking to find out how true barbarians tick…

And found that today’s Barbarians of Wealth have learned a lot from their predecessors.

Sandy and I felt like we needed to expose these modern-day villains for what they are — barbaric thieves, with one hand in your pocket, and the other pleading innocence.

In our book, Barbarians of Wealth: Protecting Yourself from Today’s Financial Attilas, we show you how politicians such as former U.S. Treasury Secretary Henry Paulson are no better than the terrifying Attila the Hun, who extorted millions in tribute from the Eastern Roman Empire. Their tactics may have changed… The tools are no longer trebuchets or Mongolian bows… They’re computer programs and toxic assets and stimulus programs. But they’re designed to leave you penniless and dumbfounded as surely as a barbaric invasion.

And readers are loving it. Barbarians of Wealth reader B.O. wrote in to say:

I am sending this email to say a huge “Thank You” to both Sandy Franks and Sara Nunnally for their thoroughly researched book Barbarians of Wealth. Whilst I can’t honestly say I understood all of it I was in awe of its contents and in particular of all the incredible work that went into the writing of the book. We need more like you girls with the courage to tell it as it is, for without the truth I believe we face a bleak future and in addition I would like to say as a member of your great organization, thank you.

Reader D.M. said:

I just want to say… how much I am enjoying reading the Barbarians of Wealth! Thank you so much Sara and Sandy for writing this book, it has been a real eye-opener for me — I think everyone needs to read your book and I hope it stays on the No. 1 best-selling book list for a very long time. I am so impressed by all the research you have both put into this book and also it is written in a style that is easy to read and enables me to understand what would normally be a very complicated topic.

In September, I decided to release a “chapter” that was not published in the book. It centered around the idea of putting a tollbooth on the Silk Road, as an analogy to how to play today’s markets.

What I mean by that is an investment that makes money from the two sides of a trade. More specifically, a financial tollbooth is the market itself.

(By the way, investing doesn’t have to be complicated. Sign up for Smart Investing Daily and let me and my fellow editor Jared Levy simplify the stock market for you with our easy-to-understand investment articles.)

For example, we could be talking about exchanges… I listed six publicly traded exchanges and specifically highlighted one of them: the NYSE Euronext (NYX:NYSE). Why this one in particular? It was one of the best-performing exchanges at that time, and compared to IntercontinentalExchange (ICE:NYSE) it was a better value.

Many of the exchanges had experienced big pullbacks after the global financial crisis, and NYSE Euronext (NYX) was starting to make a comeback.

Here’s what I said specifically:

A break above $31.50 for NYX could mean the start of a new uptrend. It would also mean a break through resistance from this level back in 2009. That might be a good point at which you can hop into the NYX.

On Jan. 12, 2011, the NYSE Euronext (NYX) closed at $32.23 after a huge day.

Now the NYX is trading at about $37, and news of a merger between it and Deutsche Boerse (DB1:XETRA) has thrust the company into the spot light.

Here’s the thing… You might think that NYX was the bigger company, but it’s not. At the time merger talks started up (again, as the two were in talks two years ago that fizzled) the NYX would have made up 36% of the merged company.

And that has me thinking there’s plenty of upside potential for NYX until the deal is done.

Indeed, Bloomberg reports that Deutsche Boerse might not be the only party interested in buying NYX.

This weekend the Sunday Times, covered by Bloomberg, said Nasdaq OMX Group (NDAQ:NASDAQ) and IntercontinentalExchange might make a joint offer for the NYX.

I think this could be just a simple “play the news” opportunity. With other potential bidders coming to the table, the NYX is bound to become more attractive to investors. The stock blew through the previous high price of $34.36, and if it can get past $40 a share, it’s got a clear rise to $50 or $60, particularly if there’s a bidding war.

Editor’s Note: The markets have made huge strides higher, and have erased 72% of the losses of the global financial crisis. But Barbarians of Wealth may be more relevant than ever before. Banks are hording mounds of cash, just like Attila the Hun, and they’re ready to extort more from you and our economy. More than that, they are able… Nothing much has changed since the global financial crisis, and you need to be prepared for the next invasion.

Visit Barbarians of Wealth to learn how to get your copy of this book.

About the Author

Sara is Managing Editor of Smart Investing Daily. As Senior Research Director and global correspondent, Sara Nunnally’s diverse resume includes studies in art history, computer science and financial research. She has appeared on news media such as Forbes on Fox, Fox News Live, and CNBC’s Squawk Box, as well as numerous radio shows around the country. Most recently, Sara co-authored a book with Sandy Franks called, Barbarians of Wealth.

As Senior Research Director, global correspondent and managing editor of Smart Investing Daily, Sara has traveled all over the world in search of the best investment opportunities to recommend to her readers, be they in developed economies like France and Italy, in emerging markets like the Czech Republic and Poland, or in frontier terrain like Vietnam and Morocco. Her unique “holistic” approach of boots-on-the-ground research has given her an edge in today’s financial marketplace as she searches for the next investment opportunities in hot sectors like alternative energy, currency markets and commodities.

Senior strategist Ib Fredslund Madsen comments on the recent spike in oilprices.

Legal information

Video by en.jyskebank.tv/

By Zac, CountingPips.com

Today, I wanted to share a quick tip on how to create a pivot point moving average on the Metatrader4 forex trading platform that is fast and easy.

First off, what is a pivot point? A simple definition from Wikipedia:

“A pivot point is a price level of significance in technical analysis of a financial market that is used by traders as a predictive indicator of market movement”

Many traders use pivot points as a special support and resistance area in their trading and find it is worthwhile to pay attention to these levels. Some traders even use the pivot point as the day’s up or down point, price above the daily pivot suggests looking for long positions while below the daily pivot suggests looking for short positions. Daily, weekly and monthly pivot points are very commonly used but pivots can also be used on any other time frame.

Some reasons that a pivot point moving average may be of significance is to spot trend changes, reversals and trend strength. When prices continually close above or below the daily pivots, this would indicate a strong trend is happening while changes in this trend could indicate a reversal may be in order. Of course, it is always best to use this information in combination with other trading methods or indicators.

Pivot Point Calculation

The standard calculation of a pivot point uses the one period’s price information to “predict” a significant price point for the next period.

Pivot Point = (High + Low + Close) / 3

In addition to the pivot point, traders usually watch three support (S1,S2,S3) and three resistance (R1,R2,R3) levels that are based off the calculations of the pivot point. However, this moving average article will not deal with those levels.

Plotting on Metatrader

To plot a pivot point moving average you will not need any special indicators or downloads. You can use the standard moving average indicator that comes in Metatrader.

Open up your Metatrader platform

1. From the Insert tab on the top menu, select Indicators -> Trend -> Moving Average

2. The moving average box should pop up on the front of your screen

3. You want to set the period option to 1 to get the pivot level off just 1 candle. Next, scroll down to the Apply to: option and select the pivot point calculation named Typical Price (HLC/3).

4. Finally, since pivot points are calculated from the candle close of one period to be useful or “predictive” for the next period, you want to shift the moving average to the right. Go to the Shift option or window and put in 1.

The moving average window should look like this:

Click OK and you should see something like this:

Remember that the current candle has the current pivot point plotted right on it (using the previous candle’s price information). In this case below, the daily doji-type candle all the way to the right is currently above the day’s pivot point of 1.3748.

The moving average is also in the process of calculating tomorrow’s pivot based on today’s price action and that is seen by the moving average extending to the far right. This pivot will not be fully relevant until today’s close.

A quick calculation to confirm the accuracy of today’s moving average pivot level from the HLC prices from yesterday’s fuller candle (on the left of today’s doji-like current candle) shows:

1.3786 (high) + 1.3683 (low) + 1.3775 (close) / 3 = 1.3748 or Today’s Pivot Point

Finally, to see the pivot price, put your cursor over the moving average on your Metatrader chart and a price window should show up just like in the above image.

Happy Trading and Pivot Watching!