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Top Global Market Stories

Oil Near Six Year Low as Supply

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

Top Trade Idea For January 29th, 2015 – USDCHF

January was clearly the CHF month as the SNB dropping the 1.20 eurchf peg brought a higher chf all over the dashboard. However, I started to like the usdchf pair as from a technical point of view the whole move lower seems to be an impulsive move that ends a flat pattern on the bigger […]

MT4 Trading & Education

How To Trade The Parabolic SAR in MT4

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 […]

Featured Chart

Chart Of The Day For January 29th,2015 – EUR/USD

  • EUR/USD Technical Strategy: Flat
  • Support: 1.1206, 1.1074, 1.0859
  • Resistance:1.1444, 1.1659, 1.1832

The Euro may have completed a bottom against the US Dollar marked by the formation of a bullish Morning Star candlestick pattern. A daily close above the intersection of the 23.6% Fibonacci retracement and a falling trend line at 1.1444 exposes the 38.2% level at 1.1659. Alternatively, a drop below the 14.6% Fib expansion at 1.1206 opens the door for a challenge of the 23.6% threshold at 1.1074.

Our fundamental outlook calls for broad-based Euro weakness as the ECB introduces aggressive stimulus expansion. With that in mind, we will opt to treat any on-coming gains as an opportunity to enter short rather than a long trade setup. In the meantime, we remain flat.

EUR/USD Technical Analysis: Euro Recovery in the Cards?

Bitcoin

bitcoin brokers

Bitcoin Decline Pauses, More Exchange News

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 […]

Global Market Commentary

EUR/USD Tests 6-Week Trend as SNB Meddles with EUR/CHF

Talking Points: EURUSD tests strength of trend since December 17. NZDUSD breakdown eyes move towards 0.7100. See the DailyFX Economic Calendar for Thursday, January 29, 2015. Traders are grappling with a seemingly contradictory FOMC statement, the RBNZ’s neutral pivot, and potential SNB intervention. The lack of central bank transparency has been quite shocking in the […]

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