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UsaRus: Bounces off a daily resistance

The US stock index tried to rally for the second straight day, building on Wednesday's rally, on the back of an upbeat session in Asia, where the volatile Chinese markets are closed for two days. Investors were also waiting for US nonfarm payrolls data, as well as the latest unemployment rate from the US.
 
The recent data from the US labour market showed that the weekly jobless claims rose by 282K in August, above market expectations for an increase of 275K. The number of people filing first-time claims for state unemployment insurance in July was 271K, whose figure was downwardly revised from a previously reported 270K.
 
Today on the economic data front, we will have the Nonfarm payrolls that are expected to rise from 215K to 220K and the unemployment rate should drop from 5.3% to 5.2%. Above expectations will provide further confidence in the US economy for an interest rate rise.
 
Since the start of September the UsaRus Index fell more than 0.4% and is in a bearish phase after the death cross that was generated when the 50-day moving average (green) crosses below the 200-day moving average (red). On yesterday session the UsaRus tried to rally but found enough resistance at 1,154 to turn south and close in the red near the open of the day, with a narrow range but still managed to close above the 10-day moving average. The stochastic is displaying bearish momentum and is crossing downward the 50 mid line.
 
Leveraged products carry a high degree of risk to your capital and any forecasts given are not a reliable indicator of future performance.
 
UsaRus is a CFD written over Russell 2000 futures.
 
Hugo O’Neill
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Beway Opa's profile photoAbdulaziz Abdulaziz's profile photoFX .Strategist's profile photoGeorgi Piskov's profile photo
 
Looks like a temporary bounce to continue falling further.
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LCrude: Halts at the 50-day moving average
 
Crude oil takes a rest on yesterday session after strong gains seen in the last three sessions as worries about China's economy resurfaced. 
 
Official and private measures of Chinese manufacturing activity in August slipped to multi year lows, indicating that the country's lethargic economy is continuing to contract. After years of economic boom, the Asian locomotive is slowing as it tries to switch gears from an investment-led economy to one which is consumer-driven. 
 
In the meantime, markets remain cautious on the EIA’s report on crude inventories due today, following last week’s number of 0.7 million barrels. Today we have the release of US Energy Information Administration (EIA) latest survey. The report is expected to show a fall in crude oil stocks with estimates at -5.4 million barrels.
 
The commodity managed to close the month of August in a positive note and is still in a bearish phase since the end of June. On yesterday session, crude oil tried to rally but found enough selling pressure just above the 50-day moving average at 48.44 to turn around and closed in the red near the low of the day on a narrow range day, creating an inside day. The stochastic is showing an overbought market although is displaying a slight bullish momentum.
 
Leveraged products carry a high degree of risk to your capital and any forecasts given are not a reliable indicator of future performance.
 
LCrude is a CFD written over Light Crude futures.
 
Hugo O’Neill
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Abdulaziz Abdulaziz's profile photoVictoria Jensen's profile photoFX .Strategist's profile photoVeselka Nikolova's profile photo
 
A pullback was expected on profit taking, also the downtrend is still in place.
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USDCHF: Inside day at a daily resistance
 
The long-anticipated interest rate hike in US is likely to slow the pace of expansion in the widespread economy, and while the robust increase in Q2 Gross Domestic Product (GDP) of 3.7% allows for such a move, the ongoing appreciation of the US dollar, as causing additional deflationary pressure, might turn out to be a heavier blow to economic activity.
 
Switzerland's economy unexpectedly grew in the Q2, avoiding a recession as the country's exporter’s stand up to pressures from a strong franc better than some had expected.
The State Secretariat for Economic Affairs (SECO) said on Friday, that the economy grew by 0.2% from the previous quarter, topping the most optimistic forecast of market analysts.
 
Since the start of August the USDCHF fell 0.41% and last Friday made a phase change from a warning to a bullish phase. Past Friday the currency went back and forward on a choppy action and closed in the middle of the daily range, on a narrow range day, creating an inside day. The Stochastic is showing strong bullish momentum and crossed above the 50 mid line.
 
Leveraged products carry a high degree of risk to your capital and any forecasts given are not a reliable indicator of future performance.
 
Hugo O’Neill
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Beway Opa's profile photoFX .Strategist's profile photoVeselka Nikolova's profile photoPaulo Cleto Silva's profile photo
 
Nice pullback, but the bearish trend is still in place, it may try to go lower.
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GBPUSD: Diving on US durable goods orders
 
According to a YouGov/Citi survey published yesterday, the UK public's expectations for inflation in the next 12 months fell to 1.4% in August after hitting an 8-month high during July of 1.6%.The falling oil prices have helped keep price pressures in check in the UK, reducing the need for an imminent rate increase.

The US Commerce Department reported yesterday, that total durable goods orders, which include transportation, increased by a seasonally adjusted 2.0% in July, compared to the market expectations for a decline of 0.4%. Orders for durable goods in June were revised up to 4.1% from a previously reported increase of 3.4%.

Since the beginning of August the GBPUSD has fallen more than 1.0% and is in a potential phase change from bullish to warning phase. During yesterday session the currency tried to rally but found enough selling pressure to reverse and closed in the red near the low of the day, breaking below the daily support. The stochastic is showing a strong bearish momentum although is above the 50 mid line.
 
Leveraged products carry a high degree of risk to your capital and any forecasts given are not a reliable indicator of future performance.
 
Hugo O’Neill
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Victoria Jensen's profile photoFX .Strategist's profile photosherif fares's profile photoBeway Opa's profile photo
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Still, it has hit a good support area. It may try to bounce or pullback a little bit from there.
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Ger30: Making new lows for the year

European markets started the week tumbling but trimmed some losses in afternoon trade, as the sharp selloff in stock markets around the world continued, following China's Shanghai Composite that plunged over 8%, its biggest one-day fall since February 2007.

Yesterday, a German Economy Ministry spokeswoman said that they are following developments in China very closely and they do not see immediate consequences for the German economy although the exports to China are important for Germany but only account for 6.6%, of the total. The export dynamic is currently coming from the EU-28 countries.

Europe’s top 5 markets all reported robust demand in July, with sales in Germany jumping 7.4%, while registrations in the UK increased 3.2% and the French market was up 2.3%. Spain’s registrations rose 24% while in Italy, sales increased by 15%.

Today on the economic front we will have the German Gross Domestic Product (GDP) numbers and the IFO – business climate, current assessment and expectations in Germany.

Since the beginning of the month the European locomotive has plunged more than 14.0% and is in a distribution phase since mid-August. The Ger30 plunged but found enough buying pressure just below year low at 9,378.1, trimming some of its losses and close at the middle of the daily range. The stochastic is showing an extreme oversold market but is displaying some bullish momentum and is well below the 50 mid line.

Leveraged products carry a high degree of risk to your capital and any forecasts given are not a reliable indicator of future performance.
 
Ger30 is a CFD written over DAX30 futures.
 
Hugo O’Neill
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sherif fares's profile photoVictoria Jensen's profile photoVeselka Nikolova's profile photoBeway Opa's profile photo
 
Good pullback, though on the DAX, it may be a breather to continue dropping.
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USDCAD: Potential symmetrical triangle in the making
 
The USD-Index plunged after yesterday’s FOMC minutes that showed a much more dovish view on the economic growth and external factors, namely China as traders pushed back their expectations of rate hike in September by the Fed. Some Fed officials pointed to slowing growth in China's once-booming economy as a reason for caution.
 
Today one the economic calendar we have the Canadian July consumer inflation data for the country. After two rate cuts by the Bank of Canada (BoC) year-to-date, there is increasing discussion among bond investors that the central bank may be forced to follow the lead of the Federal Reserve and Bank of England and begin a program of quantitative easing (QE) due mostly to the impact of declining oil prices on Canada’s economy.
 
The pair is still in a bullish phase since mid-May and now is creating a potential symmetrical triangle pattern. On yesterday session the USDCAD tried to rally but found enough selling pressure at a daily resistance to turn things back around and closed in the red, near the low of the day on a narrow range day, creating an inside day. The stochastic in showing lack of momentum but is still above the 50 mid line.
 
Leveraged products carry a high degree of risk to your capital and any forecasts given are not a reliable indicator of future performance.
 
Hugo O’Neill
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Abdulaziz Abdulaziz's profile photosherif fares's profile photoFX .Strategist's profile photoVictoria Jensen's profile photo
 
Price may beakout of a symmetrical triangle in any direction, but since the trend is bullish, it may try to break to the upside.
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USDBRL: Still making new highs
 
The dollar pushed higher on yesterday session, despite the release of disappointing economic reports from the US, as concerns over China's economic outlook began to ease.
 
The Automatic Data Processing (ADP) showed that the non-farm private employment rose by 190K in August, below market expectations for an increase of 201K. The economy created 177K jobs in July, whose figure was downwardly revised from a previously reported increase of 185K.
 
Now all investors turned their eyes to the upcoming US jobs report for August on Friday, for more indications on the strength in the job market and the likelihood of a near-term interest rate hike by the Federal Reserve (Fed).
 
Brazil’s real slipped for a fourth straight day and fell to a new 12-year low after an unexpectedly big drop in industrial output adding concerns that the nation is facing its longest economic contraction since the 1930s.
 
Since the beginning of the month the USDBRL rose more than 3.5% and is in a bullish phase since late May. The currency is continuing to make new long term highs and the yesterday session was no different as the currency rose and closed in the green near the high of the day. The stochastic is showing an overbought market although is still displaying bullish momentum.
 
Leveraged products carry a high degree of risk to your capital and any forecasts given are not a reliable indicator of future performance.
 
Hugo O’Neill
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Beway Opa's profile photoFX .Strategist's profile photoVictoria Jensen's profile photoGeorgi Piskov's profile photo
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Brazil is entering a recession, no wonder the Real keeps dropping.
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Apple Inc: Holding above the 10-day moving average
 
The Apple Inc. is quoted on the New York Stock Exchange and is one of the largest companies in the NASDAQ 100 index.
 
Apple Inc. is one of the world's leading consumer electronics and personal computer, established in 1977. Apple has remained focused on developing its own hardware, software, operating systems and services to provide its customers with the best user experience possible, having retail stores around the world, with more than 300 locations as of 2012.
 
On the 21st of July the company released the financial results for its fiscal 2015 third quarter that ended June 27 of 2015. The Company posted quarterly revenue of $49.6 billion and quarterly net profit of $10.7 billion. These results compare to revenue of $37.4 billion and net profit of $7.7 billion, in the year-ago quarter. Gross margin was 39.7% compared to 39.4% in the year-ago quarter. International sales accounted for 64% of the quarter’s revenue.
 
Since the beginning of the year Apple rose 2.10% and is in a bearish phase since 26 of August but is trading above the 10-day moving average. Yesterday, the stock tried to rally but found enough selling pressure to give most of its gains back to the market and closed in the green near the open of the day, with below average volume. The RSI is showing bearish momentum and is below the 50 mid line.
 
Leveraged products carry a high degree of risk to your capital and any forecasts given are not a reliable indicator of future performance.
 
AAPL.US is a CFD written over Apple Inc. stock.
 
Hugo O’Neill
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Paulo Cleto Silva's profile photoAbdulaziz Abdulaziz's profile photoVictoria Jensen's profile photoFX .Strategist's profile photo
 
Well, the downtrend is still in place and it could be supported by the death cross.
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Usa500: Bounce for a second consecutive day

European markets closed sharply higher on yesterday session, as US attempted a bounce for a second consecutive day.
 
On the economic data front, the second estimate of Q2 Gross Domestic Product (GDP) for the US came in at 3.7% above expectations and providing further confidence in the US economy. Although the US economy looks more than ready for an interest rate rise, the Federal Reserve (Fed) may not raise rates in September while there are reasonable concerns over the recent turmoil in the financial markets.
 
Since the start of August the Usa500 Index fell more than 6.5% and is in a bearish phase after the death cross and is generated when the 50-day moving average (green) crosses below the 200-day moving average (red). On yesterday session the Usa500 rallied and close in the green near the high of the day but did not managed to close above the daily resistance. The stochastic is displaying bullish momentum but is still below the 50 mid line.
 
Leveraged products carry a high degree of risk to your capital and any forecasts given are not a reliable indicator of future performance.
 
Usa500 is a CFD written over S&P500 futures.
 
Hugo O’Neill
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Victoria Jensen's profile photoVeselka Nikolova's profile photoFX .Strategist's profile photoBeway Opa's profile photo
 
Stocks are still weak, the bounce may be short lived.
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LCrude: Looking for the bottom
 
A series of steep declines in the Shanghai were met by reactive efforts by the Chinese government to slow the fall. The People's Bank of China (PBoC) said yesterday it was cutting its interest rate for financial institutions and its benchmark rate in its latest effort to hold off further declines. The Japanese plunging economy added to concerns about the health of developed Asia.
 
In April, Saudi Oil Minister Ali al-Naimi said he expected Asian oil demand would "remain strong," lending support to a decision to maintain strong oil production, but now Saudi Arabia begins quest for austerity as its economy sinks due to the massive falling in oil prices and earlier this month, the International Monetary Fund (IMF) predicted that Saudi Arabia would post a budget deficit of 20% of Gross Domestic Product (GDP) in 2015, and that economic growth would slow down to 2.4%, down from its current level of 2.8%.
 
In the meantime, markets remain cautious on the EIA’s report on crude inventories due today, following last week’s number of 2.620 million barrels. Today we have the release of US Energy Information Administration (EIA) latest survey. The report is expected to show a fall in crude oil stocks with estimates at 2.000 million barrels.
 
The commodity made a new low for the year at 37.74 on Monday and is still in a bearish phase since the end of June. On yesterday session, crude oil rose after the sharp drop on Monday and closed in the green near the high of the day on a narrow range, creating an inside day. The stochastic is showing an extreme oversold market although is displaying a slight bullish momentum.
 
Leveraged products carry a high degree of risk to your capital and any forecasts given are not a reliable indicator of future performance.
 
LCrude is a CFD written over Light Crude futures.
 
Hugo O’Neill
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Victoria Jensen's profile photoFX .Strategist's profile photosherif fares's profile photoBeway Opa's profile photo
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The 40.00 level could act as resistance. The bearish trend is still in place.
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CADCHF: Continues downside momentum due to a safe-haven demand

Canadian consumer price index (CPI) in July was up 1.3% from 1% printed in June, but missed economists’ expectations of 1.4%.The retail sales for June increased 0.6% to $43.2 billion, topping expectations for a gain of 0.2%, however, after removing the effects of price changes, retail sales in terms of volume were flat in June.

The strength of the Swiss franc, which is impacting on exports and prices, the consumer prices are set to fall the most in 6 decades this year, exports are suffering and joblessness is set to rise after the Swiss National Bank (SNB) dropped its currency peg on the franc of 1.20 per euro on Jan. 15. According to the recent forecast, issued in June, economics see gross domestic product expanding 0.8% this year, accelerating to 1.6% in 2016. Unemployment is set to rise from 3.3% this year to 3.5% next year.
 
Since the beginning of this year CADCHF has fallen more than 15.5% and is in a bearish phase since late April. The pair plunged during Friday’s session and closed near the low of the day on a wide range. The currency broke below the daily support and the stochastic is showing an extreme oversold market with volume picking up.
 
Leveraged products carry a high degree of risk to your capital and any forecasts given are not a reliable indicator of future performance.
 
Hugo O’Neill
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Veselka Nikolova's profile photoVictoria Jensen's profile photoGeorgi Piskov's profile photoFX .Strategist's profile photo
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The CAD getting hurt by the fall in oil, it doesnt seem to stop for now.
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UK100: Running towards the low of the Year

European markets closed in the red on yesterday session after a wild trading session in China dragging other Asian markets down and oil prices tumbled after the US EIA reported an unexpected rise in crude stockpiles.
 
There were substantial falls in Chinese stock markets on yesterday session, as fears about the country's economy continued to worry investors. However, markets rose in the final hour of trading, with the Shanghai Composite cutting its losses from as low as 4.3% down, to rise 1.1%.
 
The economic recovery appears to continue on track in the UK, as the inflation rate turned positive in July, with the Consumer Prices Index (CPI) rising to 0.1% from June's 0%, but could easily fall back next month partly due to the drop in oil prices. The CPI has been almost flat for the past six months, having turned negative in April for the first time since 1960.
 
Since the beginning of August the UK100 fell more than 3.4% and is in a bearish phase since the end of July. On yesterday session the UK100 opened in a gap down, plunging afterwards and close in the red near the low of the day on a wide range day. The stochastic is showing an oversold market although is still displaying bearish momentum.
 
UK100 is a CFD written over FTSE100 futures.
 
Leveraged products carry a high degree of risk to your capital and any forecasts given are not a reliable indicator of future performance.
 
Hugo O’Neill
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FX .Strategist's profile photoVictoria Jensen's profile photoVeselka Nikolova's profile photoAbdulaziz Abdulaziz's profile photo
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Another down day for today also on the FTSE100, stocks getting hit by risk aversion.
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Introduction

ActivTrades is a London based broker regulated by the Financial Conduct Authority (FCA), and it is also affiliated to the Financial Services Compensation Scheme (FSCS). 

ActivTrades real strengths are competitive prices, the ability to stay abreast of the latest industry technologies, tools and platforms, reliability and outstanding customer service. A highly skilled Support Desk operates 24 hours a day, 5 days a week, providing a timely response to inquiries in English, Italian, German, French, Spanish, Portuguese, Russian, Bulgarian, Chinese,  Arabic, Hungarian, Bulgarian and Dutch.

Our spreads starts from 0.8 pips and our clients can trade 50 currency pairs, alongside with indices, financials, commodities and shares. All available through the powerful and globally respected MetaTrader 4 and MetaTrader5 trading platforms, which are also available on the most widely used mobile devices.

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The thoughts and opinions expressed here are solely those of the writer and do not necessarily reflect the view of ActivTrades Plc. All commentaries are for information purposes only and should not be considered as investment advice. The decision to act on any ideas and suggestions presented is at the sole discretion of reader.

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ActivTrades PLC is authorised and regulated by the Financial Conduct Authority, FCA registration number 434413.