Ming Jong Tey
Independent Analyst
Breakout trading is one of the most popular techniques adopted by both professional and retail traders. Yet, we often see retail traders are still struggling to profit when trading the breakout mainly because in general they just memorize the pattern but fail to interpret the trading context.
In this video, you will find out a profitable breakout trading strategy like the textbook plus a few details to help you interpret and confirm the trading context before you execute. Watch the video below:
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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.
When is the BoJ rate decision and how could it affect USD/JPY?
The Bank of Japan will announce its interest rate decision between 03.30 and 05.00 GMT, followed by Governor Kazuo Ueda's press conference at 06.30 GMT. USD/JPY trades on a negative note on the day in the lead up to the BoJ interest rate decision. The pair loses ground after data showed a softer-than-expected rise in US Consumer Price Index inflation.
Editors’ Picks
When is the BoJ rate decision and how could it affect USD/JPY?
The Bank of Japan will announce its interest rate decision between 03.30 and 05.00 GMT, followed by Governor Kazuo Ueda's press conference at 06.30 GMT. USD/JPY trades on a negative note on the day in the lead up to the BoJ interest rate decision. The pair loses ground after data showed a softer-than-expected rise in US Consumer Price Index inflation.
AUD/USD consolidates above 0.6600 amid mixed cues
AUD/USD steadies above 0.6600 during the Asian session following the previous day's two-way price swings and a positive close. Against the backdrop of the RBA's hawkish stance, a positive risk tone is seen acting as a tailwind for the Aussie. The US Dollar, on the other hand, reverses the softer US CPI-led slide and stands firm near the top end of its weekly range, acting as headwind for the currency pair amid China's economic woes.
Gold edges lower despite Fed rate cut hopes on cooling US inflation
Gold price declines to below $4,350 during the early Asian trading hours on Friday. The precious metal edges lower due to some profit-taking and weak long liquidation from shorter-term futures traders.
Bitcoin, Ethereum, XRP face sharp volatility as US posts lowest inflation rate in years
The latest inflation report released on Thursday in the United States sparked a wave of volatility in the crypto markets. The US Consumer Price Index rose 2.7% YoY in November, below forecasts of 3.1%, and lower than September's 3.0% reading, according to the Bureau of Labour Statistics.
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.
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