AUDUSD Yet To Be Decided

The faith of the AUDUSD pair is yet to be decided as it reached a heavy milestone by hitting near 0.73 and then returning back into the downward trend started on September 4. The pair reached as high as 0.7282 on November 25 and is currently trading at 0.72.

If the strength of the U.S. Dollar continues then this level would be hard to breach and price may continue falling below 0.70.

Currently, support rests at 0.7138, while resistance is last high of 0.7282.

Chart: AUDUSD D1

Trading Tool

Trading tools are especially useful, given the fact that you have defined a clear and reliable strategy. One of those tools is called Pivot Point Indicator. Basically what that means is that it does the job in selecting Support and Resistance levels. If price is above the given pivot point, market is considered bullish, below it - bearish.

This tool might be really useful for spotting a change in trend, a market turn, where the biggest money are made.

To know about this visit ActivTrades' Pivot Point Indicator page HERE.

GBPUSD At Support

Is the downtrend in the Cable gone? According to daily chart the pair has reached the support line and has stayed there for the past four days.

Should we witness a close below the support line price may try and reach levels around 1.49 which would be a continuation of the bearish movement started on November 19.

On the other hand, as we can see prices are trying to hold onto the level of support and if they manage to bounce from there we can have a green light to go to 1.5370.

It is important to follow what price will do today and on Monday.

Have a beautiful weekend, everyone.

Chart: GBPUSD D1

USDCHF above resistance

The pair is trading higher in today's trading session witnessing a lot of bulls giving rise to prices. With an opening price of just below 1.0200 USDCHF made a high of 1.0247 thus far for the day.

Expectations are that prices will continue to gain. So far we are witnessing a 7th consecutive day in which prices are trading above the resistance.

Sentiment remains strongly bullish and if we get above the 1.0250 level price may want to try and top 1.0300.

Chart: USDCHF D1

Gold Unchanged

The precious metal is trading at the same range between $1,080 and $1,068. Not much has happened thus far this week as traders and investors are holding to the price which is at the support level just a little below $1,080 - $1,076.

Currently, price is still to decide a direction, so I would wait before entering into a position.

First support is $1,065, first resistance is $1,082.

Chart: XAUUSD D1

EURUSD At 8-Month Low

The Euro is trading at an 8-month low in today's trading session. Fundamentals and technicals combined are the reason for eurusd to trade as low as 1.0600. This is the lowest since April 15 this year when the pair was in a bullish trend since March 16.

This time, however, the end is nowhere to be found as Europe does not have anything to offer which could back up their currency. The US Dollar is bound to thrive in such case.

First level of support is seen at 1.0550. First resistance is to be found at 1.0700.

Chart: EURUSD D1

Paul Tudor Jones Quotes Pt 2

We continue with our second part of Paul Tudor Jones' wisdom, so here are a few more one-liners from this brilliant trader.

"Losers average losers."

"You adapt, evolve, compete or die."

"If trading is like chess, then macro is like three-dimensional chess."

"Failure was a key element to my life’s journey."

"At the end of the day, the most important thing is how good are you at risk control."

Paul Tudor Jones Quotes Pt 1

Today we take a look at one of the most successful traders of all time - Paul Tudor Jones. With current net worth of above $4 billion he is considered to be the best trader of our time. Here are some of his best wisdom nuggets:

"Don't focus on making money. Focus on protecting what you have."

"I try to avoid any emotional attachment to a market."

"Your job is to buy what goes up and to sell what goes down."

"The most important rule in trading is to play great defense, not great offense."

And my favorite one:

"Every day I assume every position I have is wrong."

Stay tuned for part two!

Is Oil Going To Hold?

For just a brief moment two days ago Oil touched its lowest low of $40. This was taken as the necessary level of support by traders and price reacted by going more than $2 higher to reach a high of 42.17. Currently, Oil is trading around the $41 level and is still unsure of a definite direction.

Daily volatility is very high with price fluctuating more than $2 up and down so if you plan to open a position, make sure volume is low and stop is wide.

First level of support is 40.20 while first level of resistance is 42.20.

Chart: USOil D1

EURUSD Close To Support

The pair went as low as 1.0630 in yesterday's trading session to slightly recover and is currently trading at 1.0660. Traders and investors are still optimistic about the U.S. Dollar and the Euro is losing ground amid bearish sentiment since its last high at 1.1497.

With the possible rate raise on the table the Euro is destined to continue falling, while according to some analysts it will dive below parity should we witness a raise this December.

Have in mind that in less than 5 hours high volatility might stir the markets as we have the FOMC Minutes.

Until then, support rests at 1.06. Resistance is 1.07.

Chart: EURUSD D1

Gold Gained and Lost It All

In today's trading session Gold opened at $1,083.48 and climbed to the impressive $1,098.

On the one hand, this was because of the attacks in Paris and the reaction of all political leaders in Europe, as well as the US President to tighten the measures against terrorist attacks and provide better control.

On the other hand, Gold rose because of technical factors. Price reached $1,074, the low since August 24 thus forming a double bottom.

Currently, Gold is trading at $1,086, $12 lower than today's high. Hopes are not yet lost for higher prices, but Bears might want one last dance to push prices below $1,070 and should this happen, the yellow metal might also test the so-spoken-about level of $1,000.

Chart: XAUUSD H1

Technical Analysis Webinar

As you probably know, two types of analysis exist in the Forex market. Fundamental and technical. In order to be successful, you have to master both of them and learn when to forget one and stick to the other and vice versa.

To my own understanding, it's best to use both in trading, but if I had to pick one over the other, I'd choose technical analysis. Patterns, channels, lines, support, resistance, formations such as tops and bottoms, head and shoulders, etc.

I'm sure that all who watched the ActivTrades webinar were not disappointed to find out about the vast opportunities these patterns allow. This week's seminar was called Price Action Patterns and was hosted by Rishi Patel on ActivTrade's page here.

If you are interested, you can simply follow next events on this page and make sure you register beforehand so you could be on the winning side of the trade next time!

Oil losing ground

Black Gold is again below $43 and is trading even below yesterday's low of 42.34. Today so far price reached a low of 42.15, the lowest since August 28. According to technicals, there is a possibility that Oil may try to reach the area around $41 before going on the upside again.

Currently, Oil is below the upside support at 43.68 and with no major news to stir the market, it is probably going to keep trading lower.

Chart: USOil H1

Oil At Support

Oil is trading lower in today's early European session with price below 43.80. Price is yet to test support at 43.50 as it has already done so a few times this week. Oil seems to hold strong above 43.50 so a break below this would indicate that further down move is to be expected.

First level of support is 43.50, while first resistance is 43.90. This is the range Oil should break in order to define a possible new short-term trend. Second level of support is 43.10 while second level of resistance is 44.40.

Chart: USOil D1

AUDUSD At Support

The pair is trading at the major support level for the past couple of days. AUDUSD reacted on the far above expectations NFP's and reached a low of 0.7023 on Friday. Currently it is trading around 0.7055 holding above the support level of 0.7020. Below 0.70 bears will have taken dominance and trend would turn bearish. So far, this has not happened and bulls still have a slight short-term advantage with price holding above support.

Strong resistance is seen at 0.72.

Chart: AUDUSD D1

Gold Below $1,100

Gold broke the psychological level of $1,100 on Friday with far above expectations NFP's. Immediately before the results were published, Gold was trading around $1,105 and then drastically declined more than $10 in less than a second circulating for a while around $1,092-$1,094.

This wasn't enough for the bears so they pushed the price further down with $7-9 more to form a bottom of $1,085.

Now, Gold is taking a breather trading around $1,094 with really tight volumes. First level of support is $1,077, second support is $1,073 and the strongest support is $1,062.

Chart: XAUUSD W1

GBPUSD Rally Is Over

The Cable posted its biggest loss for the past month and is close to its lowest since 1st of October when price was 1.5106. Note that this level of 1.5106 was the touch of support when price skyrocketed to 1.5508 on 15th of October and then again made a high of 1.5496 on 2nd of November thus forming a double top.

If price reaches levels around 1.5115-1.5100 this might be a good opportunity to go long with a tight stop right below 1.51.

Although price is well below the support line on the upward channel, this does not mean bulls have given up on the pair.

Chart: GBPUSD D1

Time to buy Gold?

Gold lost a few more dollars these past few days posting a loss of $36 total this week going from $1,142 to $1,106. With price well below the 200SMA and on a strong support level this might be a good time to go long on Gold and wait for the long projected $1,200.

First support level is $1,107, second appears to be $1,096. So if you have open positions you might want to consider closing them if price falls below $1,096. First resistance is $1,118, second resistance is $1,127. Above $1,127 bullish trend will be confirmed. Until then, use tight stops and have patience.

Chart: XAUUSD H4

GBPUSD Insecure

The Cable is trading insecurely for the past few days with prices above the resistance zone of 1.5390. In the coming days it would become clear whether the pair is going to hold above the resistance line. Note that yesterday the prior pivot point was reached and prices reverted back to the upside.

Strong resistance remains the 1.55 level. Considering market sentiment is strongly bullish we may see a break out of resistance but until we witness a close above 1.55, the pair is still in transition.

Chart: GBPUSD D1

Gold Posts New Losses

Today the precious metal kept the direction from the last week posting new losses. Gold went as low as $1,131 and is close to the strong support around $1,125-$1,130. It is possible that we will witness an attempt to break the support line but unless we close below $1,120 the support is still in play and a possible upward move could be expected.

Look for first support around $1,127, if this level is breached the possible scenarios are not positive for Gold. First resistance is $1,139.

Chart: H1 XAUUSD

Gold Below $1,140

The precious metal is trading lower in today's early European session. Partly the reason for Gold depreciating is the major loss it posted last week. The momentum is still present and Gold went below $1,140 for the first time since October 8th.

First level of support is $1,127, S2 is $1,105 S3 is $1,081. Below $1,073 we would probably be witnessing the FED raising rates.

Chart: XAUUSD H1