Top Global Market Stories
ECB’s QE providing Greek buffer Central banks to dominate this week’s proceedings FOMC is the main event Forex unfazed with U.K. elections No significant news hit the markets regarding Greece over the weekend. Capital markets continue to witness the dealings of Greece acting like a petulant child being scolded by its guardian. The more the […]
Top Trade Ideas
(Global FX Club) The GBP/JPY remains in focus to start off this week as the pair slithers its way into a tight congested zone, with resistance located at the 181.00 – 181.90 area, and trend line support around 179.80. Indeed, last week we called for higher levels in the pair, with a turnaround to follow […]
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 […]
By Ilya Spivak,
- EUR/USD Technical Strategy: Flat
- Support: 1.0712, 1.0461, 1.0246
- Resistance:1.1040, 1.1266, 1.1515
The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a turn back below the March 31low at 1.0712 opens the door for a challenge of the 1.0461-1.0554 area (March 13 low, 23.6% Fibonacci expansion).
Our long-term outlook calls for broad-based Euro weakness. With that in mind, we will treat any on-coming gains as corrective in the context of a larger structural decline and look for opportunities to enter short after upward momentum has been exhausted.
Bitcoin rallied over $20 dollars since reaching a low of $210.86 yesterday. After opening at $217.35 BTC/USD dipped slightly to $215 flat. However in the afternoon trading session bitcoin’s fortunes turned as the virtual currency gained over $17 dollars to hit a daily high of $232.44. We have since eased up somewhat with BTC quoted […]