Summary
James Chen, CMT, Chief Technical Strategist at City Index Group, teaches high-probability trade entry and exit techniques when trend-following in the forex market. Learn how to identify effective trade setups and methods through detailed explanations and comprehensive chart examples.Latest Live Videos
Editors’ Picks
EUR/USD revisits 1.1780, or daily lows
EUR/USD now comes under further selling pressure, breaking below the 1.1800 support to reach daily troughs on Thursday. The pair’s decline comes in response to a sudden bout of USD strength amid steady geopolitical tensions. Ealier in the day, the ECB’s Lagarde delivered cautious remarks, although the currency remained apathetic.
GBP/USD makes a U-turn, challenges 1.3500
GBP/USD rapidly leaves behind Wednesday’s strong advance, putting the 1.3500 support to the test on Thursday. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.
Gold sticks to the bid bias, flirts with $5,200
Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The precious metal adds to Wednesday’s optimism despite the Greenback trades in a firm fashion, although geopolitical tensions in the Middle East keep the yellow metal bid for now.
Stellar: Relief bounce fades as bearish undertone persists
Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.
Changing the game: International implications of recent tariff developments
The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.
Here is what you need to know on Thursday, February 26
Financial markets adopt a cautious stance early Thursday as focus shifts to US-Iran nuclear talks in Geneva. The European economic calendar will feature business and consumer sentiment data for February. Later in the day, the US Department of Labor will publish the weekly Initial Jobless Claims data, and the Federal Reserve Bank of Kansas City will release the regional Manufacturing Activity Index for February.