Greg Michalowski
Independent Analyst
Summary
Trading is not gambling. When i think of gambling, I think of betting black or betting red on a roulette wheel. Either you are going to win or you are going to lose. That is how I feel before a key economic event or release. Should retail traders take that bet? Should they risk it all on a red or black result? Greg Michalowski, Director of Client Education and Technical Trading at Forexlive.com and author of Attacking Currency Trends gives his views on trading key events and releases and outlines his steps that will take the gamble out of your trading.Latest Live Videos
Editors’ Picks
EUR/USD clings to daily gains, still below 1.1900
EUR/USD manages to reverse two daily pullbacks in a row and advances modestly on Thursday, hovering around the 1.1880 zone amid the inconclusive price action around the US Dollar. Meanwhile, weekly Initial Claims rose more than expected last week, while attention is expected to shift to the upcoming US CPI data on Friday.
GBP/USD picks up pace, hits 1.3640
GBP/USD trades with modest gains around 1.3640 so far on Thursday. Indeed, Cable looks to leave behind the weakness seen in the first half of the week in a context of an equally erratic performance in the Greenback and disappoting UK data releases.
Gold stays offered below $5,100
Gold keeps the choppy trade well in place on Thursday, navigating the area below the $5,100 mark per troy ounce amid the lack of clear direction in the Greenback, declining US Treasury yields across the curve and caution ahead of Friday’s publication of US CPI.
LayerZero Price Forecast: ZRO steadies as markets digest Zero blockchain announcement
LayerZero (ZRO) trades above $2.00 at press time on Thursday, holding steady after a 17% rebound the previous day, which aligned with the public announcement of the Zero blockchain and Cathie Wood joining the advisory board.
A tale of two labour markets: Headline strength masks underlying weakness
Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.
Here is what you need to know on Thursday, February 12:
The US Dollar stays resilient against its rivals in the second half of the week, supported by the upbeat labor market data for January. The US economic calendar will feature weekly Initial Jobless Claims and January Existing Home Sales data on Thursday.