Good morning Traders Podcast listeners! Today on Episode 428 your host Rob Booker interviews Juan Colon, co-founder and CEO of Darwinex. This is a great new up and coming way for traders and investors to make connections. Contact Darwinex at: info AT darwinex DOT com if you would like to receive more information! Thanks for listening!
Editors’ Picks
EUR/USD trades around 1.1700 after rebounding from 50-day EMA
EUR/USD gains ground after three days of losses, trading around 1.1700 during the Asian hours on Wednesday. On the daily chart, technical analysis indicates a potential for a bearish bias; the 14-day Relative Strength Index at 47 confirms waning momentum.
GBP/USD climbs above 1.3500 as US Dollar weakens ahead of ISM Services PMI
GBP/USD gains some ground after registering modest gains in the previous session, trading around 1.3510 during the Asian hours on Wednesday. The pair edges higher as the US Dollar struggles ahead of the US ISM Services Purchasing Managers’ Index and JOLTs job openings due later in the day.
USD/JPY turns lower to near 156.50 on fresh USD supply
USD/JPY has stalled its renewed upside near 156.80 in the Asian session on Wednesday, falling to test 156.50. The renewed US Dollar selling remains a drag on the pair even as a cautious market mood keeps the haven demand for the Japanese Yen somewhat underpinned. All eyes are on the key US data releases.
Editors’ Picks
EUR/USD trades around 1.1700 after rebounding from 50-day EMA
EUR/USD gains ground after three days of losses, trading around 1.1700 during the Asian hours on Wednesday. On the daily chart, technical analysis indicates a potential for a bearish bias; the 14-day Relative Strength Index at 47 confirms waning momentum.
GBP/USD climbs above 1.3500 as US Dollar weakens ahead of ISM Services PMI
GBP/USD gains some ground after registering modest gains in the previous session, trading around 1.3510 during the Asian hours on Wednesday. The pair edges higher as the US Dollar struggles ahead of the US ISM Services Purchasing Managers’ Index and JOLTs job openings due later in the day.
Gold pulls back from $4,500 amid profit-taking ahead of key US macro data
Gold struggles to capitalize on its strong weekly gains registered over the past two days and faces rejection near the $4,500 psychological mark, or over a one-week high touched during the Asian session on Wednesday. As investors digest the recent US attack on Venezuela, the prevalent risk-on environment prompts some profit-taking around the commodity.
Bitcoin, Ethereum and Ripple cool off as rally stalls near key resistance zones
Bitcoin, Ethereum, and Ripple prices are taking a breather on Wednesday near their key resistance levels following the recent surge. BTC faces rejection at the $94,253 level, while ETH and XRP follow BTC’s footsteps, struggling near $3,308 and $2.35, respectively.
Implications of US intervention in Venezuela
Events in Venezuela are top of mind for market participants, and while developments are associated with an elevated degree of uncertainty, we are not making any changes to our markets or economic forecasts as a result of the deposition of Nicolás Maduro.
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.