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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 […]
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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 […]
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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: 1.1311, 1.1096, 1.0958
- Resistance:1.1444, 1.1659, 1.1832
The Euro may be readying to turn upward against the US Dollar after producing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1444, the intersection of the 23.6% Fibonacci retracement and a falling trend line, with a break above that on a daily closing basis targeting the 38.2% level at 1.1659. Alternatively, a turn below the 14.6% Fib at 1.1311 clears the way for a test of the January 26 low at 1.1096.
We expect any on-coming EURUSD strength to be corrective, in line with our long-term outlook. With that in mind, we will treat upside momentum as an opportunity to enter short at a more attractive level and remain on the sidelines in the interim.
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 […]