Today is Wed, May 6, 2015 13:43:05 GMT
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Top Global Market Stories

West TX Oil Above $60 as Libya Output Slows

Oil prices closed at 2015 highs on Tuesday after protests stopped crude flows to the eastern Libyan oil port of Zueitina, hampering exports. U.S. crude oil closed up up $1.47, or 2.49 percent, at $60.40 a barrel. That was its highest settle since December 10. Brent crude oil climbed to a high of $68.40 a […]

Top Trade Ideas

Top Trade Idea for May 6, 2015 – USD/CHF

US dollar bulls took one on the chin this morning with the release of the April ADP Non-Farm employment report. While not as widely-watched as the Friday’s marquee NFP report from the BLS, ADP’s report can still provide an accurate view of the health of the labor market, and based on this morning’s release, it […]

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 May 6th,2015 – EUR/USD

Talking Points:

  • EUR/USD Technical Strategy: Short at 1.1148
  • Support: 1.0982, 1.0793, 1.0487
  • Resistance:1.1271, 1.1517, 1.1766

The Euro put in a bearish Evening Star candlestick pattern, hinting a move lower against the US Dollar may be in the cards. A daily close below the 14.6% Fibonacci expansion at 1.0982 exposes the 23.6% level at 1.0793. Alternatively, a push above the 38.2% Fib retracement at 1.1271 opens the door for a challenge of the 50% threshold at 1.1519.

We entered short EURUSD at 1.1148 in line with our long-term outlook, initially targeting 1.0982. A stop-loss will be triggered on a daily close above 1.1289. We will book half of the trade and move the stop-loss to breakeven when the first target is hit.

EUR/USD Technical Analysis: Eyeing Support Below 1.10

 

Bitcoin

bitcoin brokers

Bitcoin Down, Ripple Labs Gets Fined by FinCEN

Bitcoin closed the day slightly down, after a sizable bounce near the end of the session. The initial leg down took BTC/USD to $232.72, before eventually closing at $236.05. This is about $2 dollars lower compared to the $237.98 open. The 4 hour chart below marks today’s trading session with a yellow rectangle. The price […]

Global Market Commentary

Top Trade Idea for May 6, 2015 – USD/CHF

US dollar bulls took one on the chin this morning with the release of the April ADP Non-Farm employment report. While not as widely-watched as the Friday’s marquee NFP report from the BLS, ADP’s report can still provide an accurate view of the health of the labor market, and based on this morning’s release, it […]

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