Top Global Market Stories
Crude oil fell to the lowest level in almost six years in New York as rising production swells U.S. stockpiles. West Texas Intermediate dropped as much as 2 percent, widening its discount to Brent to the most in a month. U.S. crude supplies rose to the highest level in weekly data going back more than […]
Top Trade Ideas
Buy gold if it rejects retracement level Yesterday wasn’t a pretty trading session for gold bugs but the latest pull back may have created an opportunity for potential buyers. At this stage gold has come to rest at the 38.2% Fibonacci retracement level. Two things add to the potential significance of this level as a […]
MT4 Trading & Education
Hi, this is Shaun Overton with ForexNews.com and OneStepRemoved.com. In this 3 minute video, I’m going to introduce you to the Parabolic SAR indicator for MetaTrader 4. If you don’t already have a demo account, you can follow along for free with an OANDA account by clicking the link below this video. Register For A […]
- EUR/USD Technical Strategy: Flat
- Support: 1.1206, 1.1074, 1.0859
- Resistance:1.1380, 1.1444, 1.1659
The Euro may be readying to turn upward against the US Dollar after producing a bullish Morning Star candlestick pattern. Near-term rising trend line resistance is at 1.1380, with a break above that on a daily closing basis exposing the 23.6% Fibonacci retracement at 1.1444. Alternatively, a turn below the 14.6% Fib expansion at 1.1206 clears the way for a test of the 23.6% threshold at 1.1074.
We expect any on-coming EURUSD strength to be corrective, in line with our long-term outlook. With that in mind, we will treat upside momentum as an opportunity to enter short at a more attractive level and remain on the sidelines in the interim.
Bitcoin paused the decline near the $226 mark today. On BTC-E prices got as low as $212 before reversing course. The subsequent rally took BTC/USD to a daily high of $233.52. We are currently trading just below the highs at $228 flat. As usual, prices are slightly higher on OKCoin at $331 and BitStamp at […]