Technical Analysis - GOLD (XAUUSD) (2018-03-30)
The GOLD price has got doji candlestick confirmation in a support area and after that a bullish candle. The pair was on a downside movement previously. Now the price needs to retest the support in the H4 chart. If it gets a bullish sign in the retesting area, it might go up. Or the price might break this support area. If it successfully breaks this support, then it will go down to the next support. We should not take any entry in this pair now.
Technical Analysis - EURUSD (2018-03-30)
EURUSD price is now following the uptrend (from the Weekly chart). The price is moving up for a long time. It has broken very strong support become resistance level in the long time frame. Now the pair is on retrenchment. If it gets a bullish sign in the retrenchment area, it might go up to the resistance level we have marked. Besides, the Daily chart shows that the price had created a double top and went down. Now it is again going up. Hopefully, the pair will go up to the next resistance level.
Technical Analysis – AUDNZD (2018-03-30)
In the Weekly chart of AUDNZD, there is an upward trendline. The price is now going down, but the trendline shows that this pair is slowly going up for a long time. At present, the price is near to the trend support. Previously it went up from that support after getting the bullish sign (we have marked those signs). If the price gets a bullish sign again from this area, we can hope that it will go up to the resistance we have marked.
Technical Analysis - Crude Oil (2018-03-30)
Crude oil is now in the resistance area. From the Daily chart, we can see that this pair has created a double top and got the bearish sign in the resistance area. Now the price is on retrenchment. If it gets a bearish sign in the retrenchment area, hopefully, it will go down to the support. Previously also this pair went down from this area after getting bearish confirmation. The Weekly chart also shows that the price is now in the retrenchment area. We can notice a bearish sign there. Now the pair might go down.
3 Ways to Buy Stock without a Full-Service Broker
Trading a stock is in most cases done via brokerage firms. The investor first finds a reputable brokerage firm to facilitate the process. The full-service broker charges a hefty commission that eats into your investment returns. For these among other reasons, you may be compelled to decide not to use a stockbroker or avoid having a brokerage account to reduce the costs. The direct investment option has some pros and cons which you will need to weigh given your unique circumstances and preferences.
4 Things To Do Before You Trade Penny Stocks
Penny stocks are shares that are traded for $5 each or less. Majority of these penny stocks are on the major stock exchanges such as NASDAQ, NYSE, American Stock Exchange, and the Bulletin board. The Bulletin Board is the best to get higher quality penny stocks. However, there are a few smaller ones which trade on the dark markets such as Pink Sheets, OTCQX and OTCQB. Focus on the high-quality companies which trade on the major trading exchanges to avoid losses and refrain from trading in the dark markets. Also, avoid free stock picks that promoters are pushing you to buy as they could be scams. Most of the genuine companies increase in size and price without a promoter.
6 Major Types of Strategies Traders can Opt for in Forex Trading
Trading Forex (FX) involves trading of currencies where you can buy one currency while selling another for speculation purposes. Forex trading just like any other investment involves taking calculated risks. When trading forex, you can make profits or losses. You need to master the best forex strategies that can work for you to benefit from forex trading. Currencies tend to fluctuate due to various factors like geopolitical, economical and more. The aim of trading in currencies is to make profits from the changes in prices.
5 Significant Reasons to Trade Forex
Forex or the foreign exchange market is a decentralized or over-the-counter (OTC) market whereby currencies are traded at current or determined prices. This market brings together central banks, investment banks, commercial banks, hedge funds retail traders among other professions. According to the Bank of International Settlements (BIS) last triennial survey, the size of the forex market turnover was $5.2 trillion as of 2016. The forex market is thus the biggest financial market in the world. Here are top 5 reasons to trade forex/currencies: 1. Diversification Investing in FX market allows investors to balance their portfolio more particularly if it is heavily centered in the US equities. Currencies move relative to each other and therefore the returns in the forex trade are two ways, because an investor can make profits if the currencies drop or rise depending on how they had predicted the possible movement. 2. Market Transparency, Liquidity and Accessibility Forex traders have access to their account at all times 24/7 and on a real-time basis. The events and the news that impact the currency movements are available for every investor globally. It is possible for any investor from any part of the world to do their own analysis on how certain events are likely to impact a given currency by following the monetary flows and events that influence a country economic stability. The forex market is growing and is highly liquid and decentralized as there is no central trading location or exchange. Most of the forex trading is done through electronic trading networks and thus allowing market participants to react to economic events and currency movements. 3. Leverage FX trading allows for the use of leverage of up to 50-1 which means that investors have the ability to control a large amount of one currency using a small percentage of its true value. The use of leverage creates a greater opportunity to profit when used prudently though can work or fail you. 4. Regulation In the year 2000 and 2008, the U.S Congress passed legislation that require firms that act as counterparties to retail forex transactions, as well as forex pool operators, CTAs and introducing brokers to register with the Commodity Futures Trading Commission (CFTC) and to become members of the self-regulatory organization for the U.S. derivatives industry, the National Futures Association (NFA). Good regulation is an excellent boost to the confidence of the forex traders. 5. No Commission Fees Most FX accounts trade without exchange fees, data licenses, and commissions. Besides paying the cost of paying establishing spread between the buying and the selling price, there are no other major charges. There may be charges however if you opt to use a dealer as they can charge you for the services provided. Dealers are required to disclose their charges to their customer prior starting to trade and they should pay no more than two pips on majors. Among other reasons to trade forex are that it helps to hedge against the political and event risk, acts as a global economic hedge and also offers a potential for capital appreciation.
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