Hot off the press — you’re hearing it here first! Your host, Rob Booker, has a very big, wild and crazy announcement for this episode! You don’t want to miss this show. Starting April 1, Rob is hitting the road, and he wants to come and visit YOU (and maybe sleep on your couch…). Listen to this episode to find out how you can participate or at least follow The Rob Booker Trade-for-a-Living Road Tour! No, Rob’s not crazy; he’s a trader!
Editors’ Picks
EUR/USD posts modest gains near 1.1650 amid Fed rate cut bets
The EUR/USD pair posts modest gains around 1.1645 during the early Asian session on Monday. The prospect of a US Federal Reserve rate cut at its December meeting on Wednesday could weigh on the US Dollar against the Euro. Later on Monday, the German Industrial Production and Eurozone Sentix Investor Confidence reports will be published.
GBP/USD consolidates around 1.3330 as traders await Fed rate decision
The GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow trading band, around the 1.3320-1.3325 region, during the Asian session. Spot prices, however, remain close to the highest level since October 22, touched last Thursday, with bulls awaiting a sustained strength and acceptance above the 100-day Simple Moving Average before placing fresh bets.
USD/JPY holds losses around 155.00 as Japanese Yen recovers
USD/JPY keeps the red near 155.00 in Asian trading on Monday. The Japanese Yen stages a minor recovery, helped by a cautious mood amid Japan-China geopolitical tensions and the expectations of Fed-BoJ monetary policy divergence. The pair also faces headwinds from a broadly weaker US Dollar.
Editors’ Picks
AUD/USD inches higher to near 0.6650 after China's Exports surge
AUD/USD is picking up small bids to test 0.6650 in the Asian session on Monday. The pair capitalizes on upbeat China's Trade data for November, which showed a solid growth in the country's Exports, easing concerns over the world's second-largest economy. The Aussie also remains supported ahead of Tuesday's RBA policy verdict.
USD/JPY holds losses around 155.00 as Japanese Yen recovers
USD/JPY keeps the red near 155.00 in Asian trading on Monday. The Japanese Yen stages a minor recovery, helped by a cautious mood amid Japan-China geopolitical tensions and the expectations of Fed-BoJ monetary policy divergence. The pair also faces headwinds from a broadly weaker US Dollar.
Gold continues its struggles with $4,200 as the Fed week kicks in
Gold treads water around $4,200 early Monday, while within the previous week’s trading range. US Dollar holds lower ground amid looming Fed rate cut call and a cautious mood. Gold’s daily technical setup suggests that buyers are not ready to give up yet.
Top Crypto Losers: Monero extends losses below $370 as Aster and Bonk risk record lows
Altcoins, including Monero, Aster, and Bonk, are at risk of extending their losses as the broader cryptocurrency market stalls amid the dragging peace talks between Ukraine and Russia.
The Silver disconnection is real
Silver just hit a new all-time high. Neither did gold, nor mining stocks. They all reversed on an intraday basis, but silver’s move to new highs makes it still bullish overall, while the almost complete reversals in gold and miners make the latter technically bearish.
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.