Traders all over the world use trend lines to project price into the future and identify potential turning points. In this video we teach you how to use trend lines and apply them to your trading.
Editors’ Picks
EUR/USD eases to daily lows near 1.1720
EUR/USD now comes under some mild downside pressure amid modest gains in the US Dollar, revisiting the 1.1720 region, or daily lows, as investors continue to assess the latest interest rate decision by the Federal Reserve, while gearing up for upcoming Fedspeak.
GBP/USD breaches below 1.3400 on USD bounce
Poor results from the UK calendar hurt the British Pound at the end of the week, sparking a correction in GBP/USD to the area below the 1.3400 support, hitting daily lows at the same time. Next of note across the Channel will be the BoE meeting on December 18.
Japanese Yen bulls have the upper hand as hawkish BoJ outlook offsets risk-on mood
The Japanese Yen remains on the back foot through the early European session on Friday, though it lacks bearish conviction amid hawkish Bank of Japan expectations. Traders have been pricing in the possibility that the BoJ will hike interest rates as early as next week.
Editors’ Picks
EUR/USD eases to daily lows near 1.1720
EUR/USD now comes under some mild downside pressure amid modest gains in the US Dollar, revisiting the 1.1720 region, or daily lows, as investors continue to assess the latest interest rate decision by the Federal Reserve, while gearing up for upcoming Fedspeak.
GBP/USD breaches below 1.3400 on USD bounce
Poor results from the UK calendar hurt the British Pound at the end of the week, sparking a correction in GBP/USD to the area below the 1.3400 support, hitting daily lows at the same time. Next of note across the Channel will be the BoE meeting on December 18.
Gold flirts with seven-week tops past $4,300
Gold picks up renewed upside traction and advances to multi-week highs north of the $4,300 mark per troy ounce, backed by prospects of further interest rate cuts by the Fed in the next year. The precious metal’s uptick comes despite the firmer Greenback and rising US Tresury yields.
Litecoin Price Forecast: LTC struggles to extend gains, bullish bets at risk
Litecoin (LTC) price steadies above $80 at press time on Friday, following a reversal from the $87 resistance level on Wednesday. Derivatives data suggests a bullish positional buildup while the LTC futures Open Interest declines, flashing a long squeeze risk.
Big week ends with big doubts
The S&P 500 continued to push higher yesterday as the US 2-year yield wavered around the 3.50% mark following a Federal Reserve (Fed) rate cut earlier this week that was ultimately perceived as not that hawkish after all. The cut is especially boosting the non-tech pockets of the market.
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