Kathy Lien
BK Asset Management
Here's your daily 60 seconds trading tip.
Price action Tips - How I use wing lows and swing highs to trade.
Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.
Editors’ Picks
EUR/USD comes under pressure near 1.1600
EUR/USD is now facing increasing selling pressure, abandoning the area of recent daily highs and refocusing on the 1.1600 region amid decent losses for the day. The pair’s correction comes in response to the acceptable bounce in the US Dollar, while traders gear up for upcoming key data releases in the US.
GBP/USD recedes to 1.3140 on USD rebound
GBP/USD remains on the back foot on Friday, retreating to the 1.3140 region on the back of the marked upside impulse in the Greenback. In the meantime, worries about the UK’s fiscal discipline and political stability keep the British Pound under scrutiny, weighing on Cable. Adding to the noise, reports suggested PM Starmer and Chancellor Reeves have shelved plans to raise income tax rates.
Japanese Yen struggles near nine-month low against USD as BoJ rate-hike doubts persist
The Japanese Yen struggles to attract any meaningful buyers and languishes near a nine-month trough, touched against its American counterpart the previous day. Japan's Prime Minister Sanae Takaichi on Wednesday expressed her administration's preference for interest rates to stay low and asked for close coordination on policy with the Bank of Japan.
Editors’ Picks
EUR/USD comes under pressure near 1.1600
EUR/USD is now facing increasing selling pressure, abandoning the area of recent daily highs and refocusing on the 1.1600 region amid decent losses for the day. The pair’s correction comes in response to the acceptable bounce in the US Dollar, while traders gear up for upcoming key data releases in the US.
GBP/USD recedes to 1.3140 on USD rebound
GBP/USD remains on the back foot on Friday, retreating to the 1.3140 region on the back of the marked upside impulse in the Greenback. In the meantime, worries about the UK’s fiscal discipline and political stability keep the British Pound under scrutiny, weighing on Cable. Adding to the noise, reports suggested PM Starmer and Chancellor Reeves have shelved plans to raise income tax rates.
Gold meets some contention just above $4,000
Gold trade with heavy losses, approaching the key $4,000 mark per troy ounce on the back of the marked bounce in the US Dollar, higher US Treasury yields across the curve and fading expectations for a Fed rate cut in December.
Crypto Today: Bitcoin, Ethereum, XRP sell-off persists amid low institutional and retail demand
Bitcoin is trading above $97,000 at the time of writing on Friday amid a sticky bearish wave in the broader cryptocurrency market. The sell-off extends to altcoins, with Ethereum and Ripple hovering below $3,200 and $2.30, respectively.
Weekly focus: Looking towards post-shutdown US data
The end of US government shutdown was not enough to drive a lasting recovery in markets' risk appetite, with equity and bond markets weakening towards the end of the week.
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.