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 trims gains, nears 1.1700
The EUR/USD pair eases in the American afternoon and approaches the 1.1700 mark. The pair surged earlier in the day after the ECB left interest rates unchanged and upwardly revised inflation and growth figures. The US CPI rose 2.7% YoY in November, nearing Fed’s goal.
GBP/USD returns to 1.3370 after BoE, US CPI
The GBP/USD pair jumped towards the 1.3440 early in the day, following the BoE decision to cut rates, and US CPI data, which was much softer than anticipated. The US Dollar, however, managed to regain the ground lost during US trading hours.
USD/JPY rises to near 156.00 ahead of US CPI data, BoJ policy decision
USD/JPY moves higher to near 156.00 in the countdown to the US inflation data. Fed’s Bostic sees inflation more worrying than the job market. The BoJ is expected to raise interest rates by 25 bps to 0.75% on Friday.
Editors’ Picks
EUR/USD trims gains, nears 1.1700
The EUR/USD pair eases in the American afternoon and approaches the 1.1700 mark. The pair surged earlier in the day after the ECB left interest rates unchanged and upwardly revised inflation and growth figures. The US CPI rose 2.7% YoY in November, nearing Fed’s goal.
GBP/USD returns to 1.3370 after BoE, US CPI
The GBP/USD pair jumped towards the 1.3440 early in the day, following the BoE decision to cut rates, and US CPI data, which was much softer than anticipated. The US Dollar, however, managed to regain the ground lost during US trading hours.
Gold extends its consolidative phase around $4,330
The bright metal cannot attract speculative interest on Thursday, despite central banks announcements and the United States latest inflation update. XAU/USD is stuck around $4,330, confined to a tight intraday range.
Crypto Today: Bitcoin, Ethereum hold steady while XRP slides amid mixed ETF flows
Bitcoin eyes short-term breakout above $87,000, underpinned by a significant increase in ETF inflows. Ethereum defends support around $2,800 as mild ETF outflows suppress its recovery. XRP holds above at $1.82 amid bearish technical signals and persistent inflows into ETFs.
Bank of England cuts rates in heavily divided decision
The Bank of England has cut rates to 3.75%, but the decision was more hawkish than expected, leaving market rates higher and sterling slightly stronger. It's a close call whether the Bank cuts again in February or March.
RECOMMENDED LESSONS
Making money in forex is easy if you know how the bankers trade!
I’m often mystified in my educational forex articles why so many traders struggle to make consistent money out of forex trading. The answer has more to do with what they don’t know than what they do know. After working in investment banks for 20 years many of which were as a Chief trader its second knowledge how to extract cash out of the market.
5 Forex News Events You Need To Know
In the fast moving world of currency markets where huge moves can seemingly come from nowhere, it is extremely important for new traders to learn about the various economic indicators and forex news events and releases that shape the markets. Indeed, quickly getting a handle on which data to look out for, what it means, and how to trade it can see new traders quickly become far more profitable and sets up the road to long term success.
Top 10 Chart Patterns Every Trader Should Know
Chart patterns are one of the most effective trading tools for a trader. They are pure price-action, and form on the basis of underlying buying and selling pressure. Chart patterns have a proven track-record, and traders use them to identify continuation or reversal signals, to open positions and identify price targets.
7 Ways to Avoid Forex Scams
The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?
What Are the 10 Fatal Mistakes Traders Make
Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.
The challenge: Timing the market and trader psychology
Successful trading often comes down to timing – entering and exiting trades at the right moments. Yet timing the market is notoriously difficult, largely because human psychology can derail even the best plans. Two powerful emotions in particular – fear and greed – tend to drive trading decisions off course.