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Top Global Market Stories

UK Unemployment Drops Below 7% – Pound Blasts Above 1.6800

Market Drivers April 16, 2014 UK unemployment dips below 7% Chinese data mixed Nikkei 3.01% Europe .97% Oil $104/bbl Gold $1301/oz. Europe and Asia: CNY GDP 7.4% vs. 7.4% CNY IP 8.8% vs. 9.1% CNY Retail Sales 12.2% vs 11.9% GBP claimant count -30K vs. -30K GBP 6.9% vs. 7.1% GBP Average earnings 1.7% vs […]

Top Trade Ideas

Top Trade Idea For April 15th, 2014 – Gold

Gold – the most emotive of trades is on the slide. The base at $1180 formed at the latter part of last year following a fairly staggering 29% fall in a single year led to a fairly decent recovery in the first quarter of 2014. The failure to move through the $1330/oz level despite rising […]

MT4 Trading & Education

How To Interpret Backtesting Results In Metatrader 4

Hi, this is Shaun Overton with ForexNews.com and OneStepRemoved.com. In this 5 minute video, I’m going to show you how to interpret backtesting results in MetaTrader 4. You can follow along using a free OANDA demo account by clicking the link below this video. Register For A Free OANDA Demo Account Video Script:  Before we […]

Featured Chart

Chart Of The Day For April 16th, 2014 – EUR/USD

By ,

  • EUR/USD Technical Strategy: Pending Short
  • Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.)
  • Resistance: 1.3905 (Apr 11 high)

The Euro has turned lower anew against the US Dollar having found resistance just above the 1.39 figure. Prices are testing support at 1.3793, the 38.2% Fibonacci expansion, with a break below that targeting the 50% level at 1.3758. Near-term resistance is at 1.3905, the April 11 swing high.

We continue to see the long-term fundamental outlook as favoring Euro weakness against the greenback. Risk/reward considerations ague against entering short with prices sitting squarely at near-term support however. With that in mind, we will remain on the sidelines for the time being, waiting for a more attractive selling opportunity to present itself.

dailyclassics_eur-usd_body_Picture_12.png, EUR/USD Technical Analysis – Initial Support Met Sub-1.38

Bitcoin

Bitcoin: BTC/USD Technical Analysis – 15th April 2014

  Bitcoin’s alignment of firm bullish technicals (as discussed yesterday), have proven strong enough to take the crypto-coin’s value soaring over the past 48 hours. In my analysis on BTC/USD yesterday, I performed the following Fibonacci study (click to expand): Where I mentioned, “how much strength do these bulls have? Well, due to the recent […]

Global Market Commentary

Chart Of The Day For April 16th, 2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Pending Short Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.) Resistance: 1.3905 (Apr 11 high) The Euro has turned lower anew against the US Dollar having found resistance just above the 1.39 figure. Prices are testing support at 1.3793, the 38.2% Fibonacci expansion, with a break below that targeting the 50% level at 1.3758. Near-term […]

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