Ming Jong Tey
Independent Analyst
Pattern trading is one of the most popular techniques traders use every day. Yet, most of the retail traders are not able to profit consistently in the long run mainly because they do not have a system for confirmation when trading.
In this video, you will find out how to trade the descending wedge pattern with this two-step trend reversal technique that will boost your winning rate while following a systematic approach. Watch the video below:
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Editors’ Picks
EUR/USD retreats from tops post-US PCE, back near 1.0540
The bearish sentiment in the US Dollar remains in place and supports EUR/USD's constructive outlook, keeping it in the 1.0540 region after the release of US inflation data, as measured by the PCE, on Wednesday.
GBP/USD recedes to 1.2640 on US PCE data
GBP/USD remains positively oriented in the 1.2640 zone as the Greenback experiences a marked pullback following the PCE inflation release.
USD/JPY plunges to near 151.50 as US Dollar corrects further
The USD/JPY pair is down around 1%, plummets to near 151.50 in European trading hours on Wednesday. The asset plunges as the US Dollar (USD) extends its correction triggered as market participants anticipated Scott Bessent, United States (US) President-elect Donald Trump’s nomination for Treasury Secretary, will maintain fiscal discipline and political steadiness despite focusing on fulfilling Trump’s economic agenda.
Editors’ Picks
EUR/USD retreats from tops post-US PCE, back near 1.0540
The bearish sentiment in the US Dollar remains in place and supports EUR/USD's constructive outlook, keeping it in the 1.0540 region after the release of US inflation data, as measured by the PCE, on Wednesday.
GBP/USD recedes to 1.2640 on US PCE data
GBP/USD remains positively oriented in the 1.2640 zone as the Greenback experiences a marked pullback following the PCE inflation release.
Gold remains sidelined near $2,640 following US inflation prints
Gold remains on the positive foot near $2,640 per troy ounce, as US inflation data matched initial estimates in October, while US yields display a negative performance across the curve.
The clock is ticking for France
A French political problem is turning into a problem for financial markets. The budget deficit in France is 6% of GDP, if the planned reforms are not enacted, then the deficit could rise to 7% of GDP next year. This is the level when bond vigilantes start to sniff around.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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