You see, you can sit glued to the TV or Internet waiting for any snippet of news, or stare fixated at the price charts instead if that’s what you would rather do; but either way these are not the healthiest of practices. In my humble opinion, we have to except that no matter the amount of news we read or study of charts we engage in, none of us will ever truly know what is going to happen next, so in the long run, relying upon anything but price to tell us what to do often becomes folly. No matter how you decide to interpret the news you read about any given financial situation, when you take action you are placing your trade on your perception of the events and not the reality of price itself, and these are two very different things indeed. (...)
Doing what everyone else does typically only gives us what everyone else gets. That’s always a great point to remember in all walks of life. If that doesn’t resonate with you then maybe think about this. The only reason why markets truly exist is to give people the opportunity to make money; and the best money will always be made when you buy at the lows and sell at the highs. Read More
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REPORT: How to trade the news - Rob Colville
VIDEO: How to Trade Against the Crowd and Make Money Trading News - Boris Schlossberg
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Editors’ Picks
EUR/USD holds losses below 1.1850 ahead of FOMC Minutes
EUR/USD stays on the back foot below 1.1850 in the European session on Wednesday, pressured by renewed US Dollar demand and reports that ECB President Lagarde will step down before the end of her term. Traders now look forward to the Minutes of the Fed's January monetary policy meeting for fresh signals on future rate cuts.
GBP/USD defends 1.3550 after UK inflation data
GBP/USD is holding above 1.3550 in Wednesday's European morning, little changed following the UK Consumer Price Index (CPI) data release. The UK inflation eased as expected in January, reaffirming bets for a March BoE interest rate cut, especially after Tuesday's weak employment report.
USD/JPY price continues to hold key support level around 152.00
The USD/JPY pair trades 0.27% higher to near 153.70 during the European trading session on Wednesday. The pair gains as the Japanese Yen underperforms its major peers on expectations that Japan’s Prime Minister Sanae Takaichi will announce big spending plans in the fiscal budget to boost economic growth. Theoretically, a higher fiscal deficit weakens the appeal of the domestic currency.
Editors’ Picks
EUR/USD holds losses below 1.1850 ahead of FOMC Minutes
EUR/USD stays on the back foot below 1.1850 in the European session on Wednesday, pressured by renewed US Dollar demand and reports that ECB President Lagarde will step down before the end of her term. Traders now look forward to the Minutes of the Fed's January monetary policy meeting for fresh signals on future rate cuts.
GBP/USD defends 1.3550 after UK inflation data
GBP/USD is holding above 1.3550 in Wednesday's European morning, little changed following the UK Consumer Price Index (CPI) data release. The UK inflation eased as expected in January, reaffirming bets for a March BoE interest rate cut, especially after Tuesday's weak employment report.
Gold retains bullish bias amid Fed rate cut bets, ahead of Fed Minutes
Gold sticks to modest intraday gains through the early European session, reversing a major part of the previous day's heavy losses of more than 2%, to the $4,843-4,842 region or a nearly two-week low. That said, the fundamental backdrop warrants caution for bulls ahead of the FOMC Minutes, which will look for more cues about the US Federal Reserve's rate-cut path.
Pi Network rally defies market pressure ahead of its first anniversary
Pi Network is trading above $0.1900 at press time on Wednesday, extending the weekly gains by nearly 8% so far. The steady recovery is supported by a short-term pause in mainnet migration, which reduces pressure on the PI token supply for Centralized Exchanges. The technical outlook focuses on the $0.1919 resistance as bullish momentum increases.
Mixed UK inflation data no gamechanger for the Bank of England
Food inflation plunged in January, but service sector price pressure is proving stickier. We continue to expect Bank of England rate cuts in March and June. The latest UK inflation read is a mixed bag for the Bank of England, but we doubt it drastically changes the odds of a March rate cut.
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