As trading ranges plummet with most currencies, Master trader, Rick Wright joins Merlin to discuss how he is adapting. He offers some personal insights into how traders should modify plans and tactics to find trading opportunities when seemingly none exist. Merlin and Rick also look at the Euro, Yen, and Pound for potential trading opportunities.
Editors’ Picks
EUR/USD: Further declines remain well in store
EUR/USD briefly tested fresh year-long lows on Thursday, piercing the 1.0500 handle for the first time in 54 weeks. A lack of meaningful EU data is doing very little to provide support for the Euro, and Fiber bids continue to tilt in favor of the safe haven US Dollar.
GBP/USD tumbles through 1.2700 on Thursday
GBP/USD fell to a fresh 19-week low on Thursday, piercing the 1.2700 handle before finding near-term technical support from 1.2650. The Pound continues to ease with a lack of meaningful faith behind it, while broader markets continue to bolster the Greenback higher across the board.
USD/JPY reverses Japan's GDP-led spike to 156.75
USD/JPY pares gains to near 156.50 in Asian session on Friday, revesing the early spike to 156.75 fuelled by unimpressive Japanese Q3 GDP data. The pair is facing headwinds from Japanese verbal intervention and a tepid risk tone, despite the sustained US Dollar strength.
Editors’ Picks
AUD/USD holds the uptick above 0.6450 after mixed Chinese data
AUD/USD is holding higher ground above 0.6450 in Friday's Asian trading, shrugging off mixed Chinese activity data for October. Traders are looking to cash in after the recent downfall even though the US Dollar stay firm and market mood remains cautious. US data is next in focus.
USD/JPY reverses Japan's GDP-led spike to 156.75
USD/JPY pares gains to near 156.50 in Asian session on Friday, revesing the early spike to 156.75 fuelled by unimpressive Japanese Q3 GDP data. The pair is facing headwinds from Japanese verbal intervention and a tepid risk tone, despite the sustained US Dollar strength.
Gold price struggles to gain ground on bullish US Dollar, US PPI data looms
Gold price struggles to gain ground around $2,570 on Friday after bouncing off a two-month low in the previous session. The precious metal remains under selling pressure amid the strong US Dollar and the rising uncertainty surrounding the Federal Reserve's pace of interest rate reductions.
Bitcoin Price Forecast: BTC eyes $100K, what are the key factors to watch out for?
Bitcoin trades below $90K in the early Asian session on Friday as investors realized nearly $8 billion in profits in the past two days. Despite the profit-taking, Bitwise CIO Matt Hougan suggested that BTC could be ready for the $100K level, fueled by increased stablecoin supply and potential government investment.
Trump vs CPI
US CPI for October was exactly in line with expectations. The headline rate of CPI rose to 2.6% YoY from 2.4% YoY in September. The core rate remained steady at 3.3%. The detail of the report shows that the shelter index rose by 0.4% on the month, which accounted for 50% of the increase in all items on a monthly basis.
RECOMMENDED LESSONS
Making money in forex is easy if you know how the bankers trade!
Discover how to make money in forex is easy if you know how the bankers trade!
5 Forex News Events You Need To Know
In the fast moving world of currency markets, it is extremely important for new traders to know the list of important forex news...
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...
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.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.