Trading Psychology | Webinar Review

An exciting webinar hosted by ActivTrades' guest speaker Malte Kaub was presented yesterday. Speaker Kaub talked about trading psychology regardless of trader's level or whether they are working part-time or full-time.

Only by trading and being in the market can you know what type of psychology you have when trading the markets. Trading psychology is one of the most difficult elements to master so that's why it requires special attention and preparation.

For more free webinars and events feel free to check HERE.

GBP/JPY Massive Drop

GBP/JPY is trading lower in today's session after the decision of BoJ not to expand its monetary policy. Nikkei dropped 3.2 percent as investors were caught by surprise and the Yen rallied against all its competitors.

The pair went down from 162.57 to 157.07 in less than a few hours. It's currently trading around 157.80. It's also important to note that the pair hit prior pivot point at 157.10 and then bulls reacted turning the price in the opposite direction.

Main trend has shifted with this sudden change and now first bear target is to go under the support zone.

Chart: GBP/JPY H4

Warren Buffet Through The Years | Chart

Warren Buffet is widely considered as one of the most successful investors in history. Born in Omaha, Nebraska in 1930, the so-called "Sage" or "Oracle" of Omaha, he started buying stock at the age of 11 with the money he saved from his paper route. By the time he was 14 he had a net worth of about $5,000. At the age of 85 he had turned that amount into $67,000,000,000

Throughout the years his net worth only grew larger with only one bad year. On the chart is pictured the immense success of a man who is willing to wait and play the game by the rules. 

"The stock market is a device for transferring money from the impatient to the patient." ~WB

Gold Rising

Gold is going up today for a third consecutive day of gains. Price is currently $1,246, $3 up from opening price of $1,243. First bull target is seen at $1,265, second is $1,281 and third target is the psychological level of $1,300.

On the other hand, before first resistance is visited, Gold bears might attempt to depreciate Gold and take it to first level of support at $1,236. Should this level give away, then Gold is standing on the edge of a cliff with flat ground at $1,120.

Chart: XAU/USD D1

GBP/JPY Time To Go Down

GBP/JPY made a huge climb in the last few sessions going to 162 from 152 in less than three weeks. Price got out of the descending channel and made a high of 161.81 but is now again entering into the pattern currently trading at 160.30.

Main trend in the long-term remains bearish with first support seen at 160, second support 157.70, third support 156.50. Main goal for GBP bears is 149. 

On the other hand, if bulls manage to keep price above 161 we might see an attempt to visit the level of 162 and go for higher grounds.

Chart: GBP/JPY H4

USD/CAD 20 Cents Down

The Canadian Dollar appreciated with more than 20 cents against its major competitor - the US dollar. The pair is down to 1.2670 from a high of 1.4690. In less than three months, from Jan 20 until today Apr 20, the USD/CAD has lost a significant amount which makes it one of the biggest losers for the first quarter.

However, a correction might be expected any time as the pair has been trading into a descending channel for three months. First bull target can be seen at 1.2900. First support can be found at 1.2600.

Chart: USD/CAD D1

Gold Higher

Gold is trading higher in today's early trading hours making a high of $1,246.27 with an opening price of $1,233.29. Technical factor impacted price movement as the precious metal was resting on a short-term support at $1,237.

This boost raised price with more than 1% thus making Gold the second asset to register the highest gains so far today right after it's smaller brother, Silver which made a climb with more than 2% going from 16.15 to 16.73.

First resistance for Gold is $1,245, major bull target is $1,267 and then $1,277.

Chart: XAU/USD H4

EUR/USD Held Support

The pair traded at support level for the past few days around 1.1260. Lowest low was 1.1232 while highest high was 1.1344. It appears that the level of support was strong enough to deter ambitious bears from bringing price below 1.12.

Currently the EUR/USD is trading at 1.1330 and if we see a close above 1.1300 this would be the third consecutive day of gains for the Euro against the US dollar.

First resistance is seen at 1.1350 and major bull target is the level of 1.1530.
First support is seen at 1.1290 and major bear target remains the level of 1.1065 which is also the 200SMA.

Chart: EUR/USD D1

USD/CHF Up

The pair witnessed heavy buying last week when it reached support zone at the 0.95 level. Bulls saw an opportunity and went all in pushing price to almost 0.97 in less than three days.

USD/CHF is now trading at 0.9657 and seems to has no intentions of going down soon. A consolidation might be expected around current levels.

First bull target is a close above 0.97. If we get to this level then a rally to 1.03 becomes a possibility. First support is the level of 0.95. Below that it's an open area with a long-term target of 0.87.

Chart: USD/CHF D1

AUD/CHF At Resistance

The pair is trading at resistance at current market price at the level of 0.74. AUD/CHF made a huge climb going from 0.65 to 0.75 in less than nine months. However, the pair is currently facing a resistance as its having a hard time breaking above this level.

Right now is the second time price has attempted to break away from the descending channel and has been unsuccessful in doing so.

Price appears to have been caught in the range between 0.71 and 0.75. A break and a close out of this channel would indicate a beginning of the next move.

Chart: AUD/CHF D1

Trade Execution | Webinar Review

A free webinar was presented at ActivTrades by guest speaker Paul Wallace yesterday. He showed how users can use ActivTrades' special tools like SmartOrder and SmartLines. Trade executions should come when the trader has already devised a proper strategy and follows each step according to plan.

Not having the right tools and plan would put you to a risk and expose your equity. On the other hand, a well-thought plan and useful tools would improve your chances of trading success as you would be able to execute your trades without any obstacles like slippage or requote.

For more information on what ActivTrades has to offer next - click here.

EUR/USD In A Narrow Range

The Euro depreciated against its main rival the US Dollar in today's session making a low of $1.1295. Currently the EUR/USD is caught in a tight range where it needs to make a decision which direction should come next.

The Euro bulls tried to push prices above resistance reaching 1.1470 but failed to keep momentum and Dollar bulls took control over the situation and lowered prices to today's low.

Now first support is seen at 1.1270, while first resistance is seen at 1.1440.

Main trend remains bullish with market sentiment predominantly bullish.

Chart: EUR/USD D1

Gold Declines

Gold is trading lower today after it reached a short-term resistance in the face of $1,263. Price then turned South and started to decline making a low of $1,240. Although Gold made a sharp move to the upside, Bears were able to stop the precious metal from breaking the first resistance level best seen on H4 and are currently trying to reach their first target at $1,230.

Long-term Gold seems ready to take it to $1,270-$1,300 and then depreciate to levels lower than what we had in the end of the last year.

Chart: XAU/USD H4

Sterling Stronger

The Sterling is getting momentum due to major Technical factors, particularly a strong support at the level of 1.4050. Price reached the 1.4050 level a few days ago which drew a triple bottom pattern best seen on H4 chart. It took a few days, however, for price to react to this level and bounce off.

This level of support was widely accepted by the Sterling bulls and massive buying occurred pushing price to 1.4286. If the trend is strong enough then we should see first bull target at 1.44. Then a correction would be expected that would drive prices slightly lower. Long-term trend remains bearish.

Chart: GBP/USD D1

EUR/USD Sideways

The EUR/USD is going sideways since the beginning of the month hinting that a possible turn to the downside is at hand. The price has been range bound between 1.1350 and 1.1450. Currently, price is 1.1425. A break above 1.1480 would invalidate potential correction to the downside, but for now market sentiment remains bearish with first target 1.1320 and a second target 1.1290.

Should we see a break above 1.1480 then the pair gets heavily bearish as there are no major resistance above that level and price will react strongly to this lack of limitations.

Chart: EUR/USD D1

GBP/USD Drops То 1.41

GBP/USD witnessed a lot of volatility going large volumes up and down in just a few days' time. The Sterling has been neglected as it has suffered losses against all of its competitors. The pair is again trading in the downward trend channel since today. 

Bears have to take out first support zone at 1.4053. If this level is breached, then we might see a sharp drop towards 1.35, the all-time low.

Currently, price is holding on to 1.41 with tight swings to 1.4115, 1.4095.

Chart: GBP/USD H4

GBP/JPY Losing Ground

The pair suffered a devastating loss in the last recent sessions exiting the major downtrend channel. Since mid-August last year, GBP/JPY has been depreciating going from 196 to below 155. Currently, this week is the fourth consecutive week for the pair to end up in the red.

As it looks like, investors have lost confidence in the Sterling against the Yen and further decline might be expected. Lowest low for the week - 155.75, current market price - 155.90.

First support zone - 154.80 (a good buy position with a tight stop at 154.50).
First resistance zone - 159.60.

Above 162 a bull trend would be confirmed.

Chart: GBP/JPY W1

Gold Up On Fundamentals

Heavy pressure on European markets as well as weakness in the US markets caused investors to boost Gold prices today. The precious metal reached as high as $1,237 and is currently trading at $1,227. Although price is again in its main downtrend in the short-term, aggressive bulls might make another attempt to push prices above $1,240.

However, with world indices in the red today, it is still to early to confirm that Gold is going down again. First support is seen at $1,225, second support $1,208. First resistance is seen at $1,237, second resistance $1,243.

Gold Today

Gold is trading to the downside in today's trading session after the bulls suffered a devastating loss with the announcement of the latest NFP data on Friday. With a thriving US economy, Gold was sold out and reached $1,208 before slightly recovering and going to $1,221 closing price on Friday.

Currently, Gold lost some $6 and is trading at $1,215. Main trend remains bearish for the short-term, first bear target $1,200, major bear target $1,188. First resistance $1,228, major resistance $1,250.

No major news are expected today so price might get range bound between $1,218 and $1,208.

Chart: XAU/USD H4

Silver Below $15

Silver fell off a cliff after upbeat US data was announced on Friday. The commodity lost almost a dollar going from 15.45 to 14.78 in less than a day. Currently, Silver is trading at 14.94 with a low of 14.83 which coincides with the 200SMA which acted as support and provided the needed push for bulls to go for $15 again. 

With the recent sharp drop in Silver price, the metal might be struggling for a few days in a consolidation phase before we see a move to either sides. It is still early to predict where it's headed, that's why we need to watch levels closely: first support 14.83, second support 14.50. First resistance 15.08, second resistance 15.53. 

Chart: XAG/USD D1

Closing Q1 | Webinar Review

It's April 1st and we have the first quarter of 2016 behind us. During this time a whole lot of things happened and a whole lot of trillions were traded. What and how are we going to remember this first quarter was discussed at a webinar hosted by ActivTrades, presented by Paul Wallace.

Speaker Paul Wallace also highlighted key moments and data that would shape the next quarter. Everyone who participated in the event got the chance to ask questions and are already more informed what to expect from the markets in the next quarter.

To know more about next free webinars feel free to visit their page HERE.