Top Global Market Stories
Oil prices opened up weak on Thursday in Asia after record U.S. stockpiles sent it tumbling to near six year lows in the previous session, and analysts said that the outlook remained weak. U.S. crude prices tumbled on Wednesday after the U.S. reported record-high inventories that raised anxieties about the global oil glut that had […]
Top Trade Ideas
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
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:1.1444, 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.
Bitcoin (BTC/USD) has fallen below $250, now testing its next support point of $240, which has been held for over 72 hours. It is currently trading at $248 on BTC-e. The $240 mark has provided some stability and served as the platform for BTC’s sharp rise to over $300. That rally, which was possibly motivated […]