Kathy Lien
BKTraders and Prop Traders Edge
Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.
Editors’ Picks
EUR/USD continues its rise as Dollar retreats on Fed action and soft data
EUR/USD advances during the North American on Thursday up 0.41% after the Fed decided to cut rates, alongside the release of weaker than expected job data in the United States. The pair trades at 1.1742 after bouncing off daily lows of 1.1682.
GBP/USD steadies at fresh near-term highs
GBP/USD is holding firmly in bullish territory heading into the tail end of the week, but Cable bidders ran into a technical resistance point at the 1.3400 handle on Thursday. The Federal Reserve delivered a third straight interest rate cut this week, bolstering broad-market risk appetite and pushing the US Dollar into the low side across the board.
USD/JPY finds buyers near 155.50, tracks USD bounce
USD/JPY finds fresh buyers just under 155.50 in the Asian session on Friday, reverting toward 156.00. The pair tracks a modest rebound in the US Dollar, as traders resort to repositioning heading toward the weekend in the aftermath of a less hawkish Fed outcome, anticipating the US NFP data and a BoJ rate cut next week.
Editors’ Picks
AUD/USD consolidates weekly gains above 0.6650 amid divergent RBA-Fed outlooks
AUD/USD sits at the highest level in three months above 0.6650 in Friday's Asian trading. Despite mixed Australian employment data, the RBA's hawkish outlook continues to underpin the Aussie amid the risk-on mood. Meanwhile, the US Dollar selling remains unabated amid bets for more rate cuts, providing additional support to the pair.
USD/JPY finds buyers near 155.50, tracks USD bounce
USD/JPY finds fresh buyers just under 155.50 in the Asian session on Friday, reverting toward 156.00. The pair tracks a modest rebound in the US Dollar, as traders resort to repositioning heading toward the weekend in the aftermath of a less hawkish Fed outcome, anticipating the US NFP data and a BoJ rate cut next week.
Gold remains poised to regain $4,300 and beyond
Gold sits at seven-week highs after having settled above $4,275 key resistance on Thursday. US Dollar sees a modest rebound amid profit-taking following the two-day Fed-led slump. Gold’s daily technical setup suggests that there is scope for more upside.
Top Crypto Gainers: Zcash, MYX Finance, MemeCore extend gains as market recovers
Zcash, MYX Finance, and MemeCore lead the cryptocurrency market recovery with double-digit gains over the last 24 hours. The technical outlook for Zcash and MemeCore suggests upside potential, while the MYX Finance token remains trapped between converging moving averages.
FOMC Summary: A split cut and a clear shift toward caution
The Federal Reserve (Fed) went ahead with a 25 basis points rate cut, taking the target range to 3.50–3.75%. But the tone around the decision mattered just as much as the move.
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.