Let's Talk Common Patterns – A Webinar by ActivTrades

One of the most efficient ways to learn how to trade is to listen to the experienced professionals. My broker, ActivTrades,  regularly offers this opportunity in the form of free webinars on different trading topics, including trading psychology, strategies, news events trading, money and risk management,  indicators learning and so on. Anf of course  taught by leading experts in their fields with years of experience behind them.
On the 14th August 2018 ActivTrades is organizing a free online webinar on the Common Patterns in trading. The webinar will be led by Martin Walker, a former Royal Navy Commander and Chartered Engineer turned full time professional Trader, Educator and Mentor, who is passionate about perfecting and teaching his trading techniques.
Attending the webinar and the folling next ones is completely free of charge and in case you miss one of them you can always go back and watch it again through the Webinars Archive.

To sign up for the Common Patterns free webinar, follow this link.

USD/CHF Is facing near-term bearish breakdown

The USD/CHF pair looks to weaken today and follows the decline from Thursday. As seen on the four hour time frame the pair is down with 0.07% for the day and the price is developing below the flat moving averages. But on the other hand, RSI and stochastic are showing strong bullish momentum and both are close to their mid-lines. The ongoing downfall might be considered as a short-term bearish breakdown, despite the technical indicators.  

The downside remains supported by the 0.9900 handle, which if broken will open the door for further weakness towards the 0.9850 level and then 0.9800. The upside is providing resistance at 0.9950, followed by the 1.0000 psychological level.  All in all, the USD/CHF pair is facing further downside pressure.

NZD/USD Got rocked by the dovish RBNZ

The New Zealand Dollar got rocкed today after the RZNB’s decision to   keep interest rates at record low level of 1.75% until September 2020, a full year later than previously projected, which was a great surprise for the markets. The NZD/USD pair sharply plunged into the deep waters, losing around 125 pips and down with 1.85% for the day. 

Alongside the US Dollar  picked up its buying interest which further supported additional downward pressure and dragged the pair to its lowest level since March 2016.

Technically speaking the short-term outlook remains strongly bearish. On the four hour time frame the price is developing well below its moving averages, all aiming south. Technical indicators favour bears to grow stronger. RSI and stochastic are showing bearish momentum and had entered into extreme negative territories. 

From the current level 0.6624 the downside risk prevails and might send the pair towards the key support at 0.6600, which seems next obvious target. On the other hand any attempts by the bulls might now confront the 0.6680 area, which if flighted is followed by the 0.6900 handle.

GBP/USD Undermined by Brexit-related concerns

The GBP/USD pair entered into consolidation mode below 1.1300 handle following Monday’s range because of the the absence of UK data and no-deal Brexit keeps weighing on the Pound. Additionally the BOE's policymaker McCafferty reaffirms Carney's rule of thumb of small rate hikes for the next couple of years.

Technically speaking the short-term outlook remains bearish. On the four hour time frame the price is developing well below its moving averages. RSI has slowed down around its 30 level and has lost directional strength. Stochastic is showing strong bearish momentum and is nearing the extreme oversold territory. 

Strong support is lying at 1.2920 (the weekly low), which if broken to below increases the risk for downward slump and marking fresh yearly lows.

AUD/USD Pushing higher after RBA left rates unchanged

The Australian Dollar is trading up with 0.54% at above 0.7427 level against the US Dollar. In line with the expectations the Reserve Bank of Australia left its cash rate unchanged at 1.50%. Inflation and wages remain low and the statement of the bank was broadly unchanged from the previous monetary policy meeting.
Technically speaking the short-term outlook remains bullish. On the four hour time frame the price is developing above its flat 50-day and 100-day SMAs and the 20-day SMA has turned to north. RSI has eased around 65 level  while stochastic is showing strong bullish momentum and is entering extreme overbought conditions.
Now bulls are eyeing the resistance at 0.7445 which is broken will open doors for testing the next one - July 10 high at 0.7484 and higher at 0.7531. Looking to the downside the pair founds support at 0.7348 (Friday’s low), 0.7310 (July 2 bottom) and 0.7184.

AUD/USD Bearish pressure ahead of NFP

The AUD/USD pair moved higher during Asian session and marked daily high at 0.7372 after the upbeat Australian retail sales data. But during the pat hour lost upward traction and retreat to currently trade around 0.7363.  
Technically speaking the short-term outlook remains neutral to bearish. On the four hour time frame the price is developing its bearish 20-day SMA and flat 50-day and 100-day SMAs. RSI lacks direction around 40 level while stochastic has turned north although remains well below its mid-line.
The selling pressure has diminished for now as market participants became cautious ahead of today's key event risk – the US monthly jobs report release. So until then no significant moves are expected and it’ll become more interesting later on, especially in case with strong US jobs numbers which will further boost the bears. The short-term perspective turns towards key supports at 0.7340, 0.7320 and 0.7310.

GBP/USD Dovish BoE brought bearish sentiment

BoE raised its interest rate today for the second time since the financial crisis in 2008 amid a strong labor market, high inflation and growing concerns about Brexit. The Bank of England's nine-member monetary policy committee voted unexpectedly unanimously to raise the interest rate from 0.50 percent to 0.75 percent, which is the highest level since March 2009.
On this news the GBP/USD reacted with huge drop, losing 0.65% and marked daily low at 1.3045. The pair succeed to bounce from the low and currently is trading at 1.3058.
Technically speaking the short-term outlook remains neutral to bearish. On the four hour time frame the price is developing  below its slow bearish moving averages. RSI is showing strong downward momentum and is nearing 30 level. Stochastic has retreated from its extreme negative readings but has eased around 20.  
However to bring back the bullish mode the pair will need to fight first 1.3165 and next 1.3215 and eventually 1.3245. On the other hand bears will need to regain the 1.3000 handle in order to drive the pair down towards 1.2957 (the 2018 low).