Gold Made New Low

Today's trading session brought new losses in Gold's price. The precious metal went from opening price $1,127.61 to $1,115 (cmp). The lowest thus far is $1,113 and it looks like Gold is not going to stop there. On the H1 chart it's visible that Gold is trading in a really tight downward channel, implying that this would not hold long and would break easily.

Bearish sentiment continues to drive prices lower and lower. Next support level is $1,112, then $1,096. Resistance can be found at $1,122 and then $1,132.

Chart: XAUUSD H1

Gold, Technically Speaking

  

The precious metal has been trading lower today and seems to have troubles going above $1,135. Bearish charts may be regarded as the main reason for this decline, as technical bears take advantage of the price going back into the long-term bearish channel on Daily and well below the 200SMA.

It is too early to confirm whether the bearish trend will continue as prices got well above the main resistance line and stayed there for a while which means that a bull attack may be at hand. 

Chart: XAUUSD D1

Gold Lower

The precious metal is trading lower at today's session with a sell-off by $19. Gold went from $1,147 to $1,128 in just seven hours. Currently, some backing up is giving Bulls some hopes. Although sentiment remains bearish for the long-term, a spike to the upside could be expected as Gold broke the strong resistance on Friday and is currently floating above resistance line on Daily.

First level of support now is $1,122 and first level of resistance is $1,138. After that S2: $1,115, S3: $1,102. R2: $1,149, R3: $1,168.

Gold in an Uptrend Channel

Gold broke the resistance level on Daily hinting a possible exit from the downward channel. It's currently forming a short-term H1 upward channel with its move from yesterday going strong above $20 rise.

Today, however, the precious metal is trading $10 lower due to technical resistance and profit taking. Next level of support would be the area around $1,132 and resistance lays at around $1,160.

Have in mind the meeting between President Obama and Vladimir Putin scheduled for Monday!

Charts: XAUUSD D1, XAUUSD H1

Sincere advice

Use only 10% of margin capacity to trade for next few days even if you are dead sure of what the market is going to do. There are the rest of the 365 days to make your money if it's safe...  Once your loss capacity is over leave the market for the day or even week this is no ordinary data this is going to cause lots of ignition enough to burn any size of accounts. No matter how good an adviser is they can fail in the face of the markets so please ensure lowest possible risk and safe traders better stay away for next few days because the impact may be immediate or may take some days waiting to strike when you may not be anticipating it at all.. Best time to stay away from the market from today till September 29.

Issued in the general interest of your health, wealth and peace of mind.

Gold Recovered Some Losses

Since yesterday Gold has been trading a little higher than its last low. The yellow metal fall to $1,122 yesterday and is currently trading $6 higher at $1,128. Market sentiment remains bearish for the long-term with a slight chance to try and reach higher to $1,142 before going down again.

First support and resistance levels: $1,124 & $1,132
Second support and resistance levels: $1,116 & $1,142

Chart: H1 XAUUSD

Has Oil Bottomed?

Oil has been returning back to its previous highs. Since 8/27/2015 Oil has been swinging madly losing and gaining 3%, 5% and even 10% on a daily basis. The direction is still uncertain and we might be in the last third of the move, which according to some experts is the hardest part of a move to trade.

For the month of September Oil has been trading in the range of $43 to $48. What would be best right now is to wait for a clear trend confirmation, which would mean that Oil has to break either one of these levels.

Chart: D1 USOil

Gold At Resistance On Daily

The precious metal is trading lower in today's session due to technical bears who overcame the bulls in their rally last week. Gold reached its highest point at $1,142 which occurs to be a strong resistance level and then bounced off to currently trade at $1,132-$1,133/oz.

This week isn't packed with a lot of economic data so technicals might be the only reason for the yellow metal to move.

Current resistance level is $1,143-$1,146 while support rests at $1,128, $1,116, $1,100.

Chart: D1 XAUUSD

Five Interesting Facts on FOREX

#1) In the mid 1980’s a form of electronic FOREX trading existed which allowed banks to contact each other electronically and request price quotes. This system of communication was very advanced at the time, it was basically a closed network real-time chat system, it was developed by Reuters and was called Reuters Dealing.

#2) The FOREX market trades in excess of $4 trillion dollars per day ($4,000,000,000).

#3) The majority of trading activity happens on what is known as the Major currency’s these are the USD bloc, EUR bloc and JPY bloc. These blocs represent the three largest global economies.

#4) The FOREX market trades 24 hours per day from Monday morning in the Asia-Pacific time zone until Business close on Friday afternoon in New York. The FOREX market doesn’t even close for holidays with the exception of New Year’s Day and even that depends what day it falls on.

#5) The US dollar index is a futures contract listed on the New York Board Of Trade (NYBOT) and the Dublin based Financial Instruments Exchange (FINEX) futures exchange. The US Dollar index is usually found under the symbol @DX and represents the average value of the US Dollar against other major currencies. The dollar index is heavily weighted to the Eurozone.

Fed Leaves Rates Unchanged

Investors will have at least one more month to worry about whether the Federal Reserve is raising rates.

During a conference after the announcement, Federal Reserve Chair Janet Yellen stressed the path of the Fed's first rate hike in nearly a decade is more important than its timing.

"One of the reasons for not hiking, I think, is that they didn't want to continue to increase the strength of the dollar, which would reverberate back into the United State," said Bill Gross, manager of the Janus Global Unconstrained Bond Fund.

On Wall Street, the Fed's deliberations have been 2015's biggest drama.

Trading Tips

What's a pin bar? A pin bar is a very important element in trading. When used correctly it can define the market direction. Some traders use only pin bar setups and have good success. 

Pin bar is short for Pinocchio bar. It implies that the market is lying. What that means is that the market price went to a certain level then came all the way back near the opening price. It lied as to where the price was going. 

This was the main topic in the latest ActivTrades webinar. If you missed it, despair not. You can view all next webinars HERE. 

ActivTrades News - Every Wednesday

What's even more interesting is that ActivTrades introduces a new service called ActivTrades News. It's a brand new feature which allows you to stay in touch and keep up with the latest economic developments, market movers and game changers. Make sure you check that also!

Gold Slightly Up

Yesterday's session brought some gains in the yellow metal due to US CPI Data and bargain hunting. The dormant commodity didn't do anything for the past few days and market participants were only waiting for the spark in Gold. 

The precious metal went up to $1,124 gaining a good amount of $19. Currently, Gold is trading at $1,120 while short-term and medium-term sentiments remain bearish. However, with maybe the most important FOMC meeting for the year scheduled for today, things may change in a second. 

Chart: H4 XAUUSD

Gold Awaiting Direction

With the FOMC meeting scheduled for Thursday, Gold has not made a lot of moves. Currently the yellow metal is trading at the previous week levels around $1,105-$1,107. It is expected that it will hold to these levels until we have a conclusion from the Fed's two-day policy meeting.

Until then resistance could be seen at $1,109 while support lays at the psychological level of $1,100. If this level is broken a trip down to $1,075 is the next stop.

Chart: H4 XAUUSD

Calm Before the Storm?

Quieter market today was the case for traders and investors. Although the EURUSD climbed a little and Gold revisited yesterday's low of $1,100, traders and investors are cautious going into the weekend. Next week we have the big Fed meeting. Also, the Bank of Japan and the Swiss National Bank will also announce rate decisions. 

Next week is expected to be extremely volatile. Buckle up and remain in your seats, please. Have a nice weekend!

Gold Sell-Off Continues

The precious metal kept going south in yesterday's trading session ending the losing streak at $1,101.61. That level is the lowest since mid-August when Gold recovered from its multi-year low at $1,074 reached in the end of July.

The big picture isn't looking bright for Gold as it doesn't seem to be able to find strong support unless it visits the low of $1,075 and then decide its own way. Minor support now is $1,095 and minor resistance lays at $1,119.

The Gold market is too uncertain to define a possible scenario, but bearish sentiment continues to play the leading role.

Chart: H4 XAUUSD

Part 3: Fascinating Facts on U.S. Currency

Here's the third and final part of our series Fascinating Facts on U.S. Currency:

23. Apparently, enough people go to banks and other businesses to find $2 bills that there's a name for it: Tom Crawl.

24. "White cents" were made from 88 parts copper to 12 parts nickel, which gave them a light or white color. 

25. All U.S. notes are made from cotton-linen combination. 

26. The U.S. prints 37 million bills a day, or $696 million dollars. 

27. A mile of pennies laid out is $844.80, by this standard, America is about $2.5 million wide, coast to coast. 

28. The estimated lifespan of a $10 bill is 3.6 years, $5 bill is 3.8 years, $1 bill is 4.8 years and $100 bill is 18 years. The life expectancy of a circulating coin is 30 years. 

29. Five-cent coins minted from 1942 to 1945 aren't nickels because they don't have any nickel in them. 

30. Counterfeit dollars are frequently detected because they are more perfect than authentic money. 

31. One million $1 bills would weigh almost as much as a 1966 Beetle. 

32. No African Americans have ever appeared on paper money. 

33. The largest note ever printed was the $100,000 Gold certificate, used for transactions between Federal Reserve Banks and did not circulate. 

Here it is, 33 fascinating facts about the notes and coins of the largest and most powerful economy in the world. 

Part 2: Fascinating Facts on U.S. currency

Here is part two of three on Fascinating Facts on U.S. currency:

12. A farm in Delaware mulches more than 4 tons of U.S. cash into compost every day.

13. A website called "Where's George?" can track where a bill has been via its serial number.

14. Featured on the bison nickel is an image of Chief Iron Tail, Oglala Lakota.

15. "Silly Head" is the popular name for a U.S. cent minted in 1839, because people thought the picture of Miss Liberty looked silly.

16. The rare 1913 Liberty Head nickel was printed by a rogue mint employee who made only five of the coins.

17. A quarter dollar has 119 grooves around the edges.

18. The "All-seeing eye" was included as a reflection of Divine Providence. The Latin below the pyramid on the $1 bill, NOVUS ORDO SECLORUM, means "A NEW ORDER FOR THE AGES".

19.  90% of the bills have been contaminated by cocaine.

20. A $1 bill has 13 arrows, 13 leaves in the olive branch, 13 stars and 13 stripes on the shield, which represent the original 13 colonies.

21. Both "Ferris Wheel" and "Cartwheel" are nicknames for US silver dollars.

22. A stack of dollar bills one mile high would be worth 14.5 million dollar.

Tomorrow comes the third and final part on this series of posts. Stay tuned!

11 Fascinating Facts on U.S. Currency

1. The $10,000 bill is the highest denomination ever circulated by the Federal Government.

2. Mutilated dollar bills can be exchanged, as long as you still have more than 50% of the note.

3. The first U.S. coins were made in 1792.

4. The U.S. first issued paper currency in 1862 to make up for the shortage of coins.

5. The only woman to appear on a U.S. bank note is Martha Washington, on a $1 silver certificate.

6. Fractional currency was introduced by the United States Federal Government following the outbreak of the Civil war. The notes were issued in 3, 5, 10, 15, 25 and 50 cents denomination.

7. The first use of George Washington's portrait on the $1 note was on series 1869 United States note.

8. 94% of bills are contaminated with bacteria and 7% with dangerous pathogens.

9. The $1 note makes up about 45% of currency production.

10. "In God We Trust" was first used on coins during the Civil war and added to all coins in 1955.

11. The buffalo on a bison nickel once roamed the Bronx zoo.

Stay tuned for part two!

Evaluation in trading?

Do I need this, really? Well yes. If you want to be successful in trading, it requires having a plan, a strategy and a good execution. And even that cannot guarantee you success and profits. When these fail you have to do one thing - evaluate.

Evaluation in trading means much more than you think. Trading should be treated as the business it is, and as such it needs to be evaluated regularly.

This week's ActivTrades' webinar was exactly that - Evaluating Your Trading. Guest speaker Paul Wallace took the time to explain reasons for failure and how to cope with them.

To increase your probability of trading success make sure you participate in the other webinars of ActiveTrades. For more info and upcoming events click HERE.

Gold Lower

Gold is trading a bit lower in today's trading session slowly losing ground. Strong support can be found at the levels around $1,108-$1,102. Resistance is met at $1,140, then $1,153.

With no major news to move the Gold market, traders and investors are quickly losing interest in holding any Gold positions and are likely to get rid of them, reason being it's not bringing them any revenue. That's why according to some market experts and analysts Gold is yet to find the bottom below $1,000.

Chart: H1 XAUUSD

Quiet hours in anticipation of crucial events and data

Not much has happened today in the markets. The reason for this is that traders and investors are anticipating the events later today and tomorrow. Later today, at 11:45 GMT0 is expected the ECB Rate Decision to increase, decrease or maintain the interest rate.

A few hours after that ECB President, Mario Draghi, holds a press-conference (18:30 GMT0) where important topics would be discussed.

And the most important data is scheduled for tomorrow - NFP's (change in non-farm payrolls - monthly change in employment excluding the farming sector) and Unemployment Rate (the percentage of people considered unemployed in the United States).

Gold Price in 2015/2016

Here is an interesting take on what big financial companies had to say about the gold price. Let's see what their opinions are and how well they managed to predict the price so far - 

Murenbeeld of Dundee Capital Market said he sees the yellow metal averaging $1,202 in the first quarter, rising to $1,277 in Q4 and then hitting $1,311 in the second quarter of 2016. Other firms have come forward with similar predictions. A recent Kitco News article notes that Commerzbank (ETR:CBK) expects gold to average $1,200 in 2015, while Citi Research places it at $1,220. Meanwhile, TD Securities has set it at $1,225 and Natixis (EPA:KN) is estimating $1,140. The consensus of many firms seems to be that, similar to silver, gold will be weaker in the first half of 2015 as investors wait for the Fed to raise interest rates, with that pressure dissipating as the year comes to a close.

It’s interesting to note that while Thomson Reuters’ short-term gold price predictions are relatively in line with those from other firms, not all have the same longer-term outlook for the precious metal. For instance, in a recent article, Mineweb’s Lawrence Williams points out that Goldman Sachs (NYSE:GS) sees gold’s three-month average at $1,290, and its six- and 12-month averages at $1,270 and $1,175, respectively. However, it’s calling for the yellow metal to move down after that, ultimately averaging just $1,000 by the end of 2016.

Furthermore, Barclays (LSE:BARC,NYSE:BCS) anticipates an average 2015 gold price of $1,170, but like Goldman Sachs, it believes that while the yellow metal may enjoy some near-term strength, “the rally is likely to come under pressure in the coming months, after the Lunar New Year.” 

It’s too soon which — if any — of these scenarios will come to pass, but the differences in opinion are certainly worth keeping in mind.