This article written by Simon Betschinger was originally published in the August 2013 issue of Traders' Magazine.
- Mr Simon Betschinger holds a master's degree in economics and has been trading since 1998. Hes is a partner and founfer of Trader-Fox GmbH, a real-time stock-market software program for the systematic trading by chart patterns. In addition, he trades with a real-money portfolio on the trading portal Master Traders.
Editors’ Picks
EUR/USD clings to strong gains above 1.1850 on USD weakness
EUR/USD preserves its bullish momentum to start the week and trades above 1.1850. The US Dollar struggles to find demand ahead of Wednesday's critical January employment report and helps the pair continue to push higher.
GBP/USD hovers near 1.3600 as UK government crisis weighs on Pound Sterling
GBP/USD moves sideways after registering modest gains in the previous session, trading around 1.3610 during the European hours on Monday. The pair could come under pressure as the Pound Sterling may weaken amid a fresh government crisis in the United Kingdom.
USD/JPY slumps below 157.00 on intervention risks
The Japanese Yen outperforms the US Dollar to start the week on the back of speculations that authorities will step in to stem JPY weakness in the domestic currency following Prime Minister Sanae Takaichi's landslide win in Sunday's election.
Editors’ Picks
EUR/USD clings to strong gains above 1.1850 on USD weakness
EUR/USD preserves its bullish momentum to start the week and trades above 1.1850. The US Dollar struggles to find demand ahead of Wednesday's critical January employment report and helps the pair continue to push higher.
USD/JPY slumps below 157.00 on intervention risks
The Japanese Yen outperforms the US Dollar to start the week on the back of speculations that authorities will step in to stem JPY weakness in the domestic currency following Prime Minister Sanae Takaichi's landslide win in Sunday's election.
Gold holds steady above $5,000
Gold builds on the gains it posted to end the previous week and holds steady above $5,000 on Monday. Data released over the weekend showed that the People's Bank of China extended its Gold buying spree for a 15th month in January. Moreover, dovish US Fed expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.
Cardano steadies as whale selling caps recovery
Cardano (ADA) steadies at $0.27 at the time of writing on Monday after slipping more than 5% in the previous week. On-chain data indicate a bearish trend, with certain whales offloading ADA. However, the technical outlook suggests bearish momentum is weakening, raising the possibility of a short-term relief rebound if buying interest picks up.
Japanese PM Takaichi nabs unprecedented victory – US data eyed this week
I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.
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