Top Global Market Stories
Markets rally after monumental effort on Thursday; S&P looking more bullish after 10% correction; Economic data, earnings and speeches to test new bullish sentiment; Yellen speech could stir things up again in the markets. Equity markets are finally back in the green on Friday, following more than a week of extreme negativity that saw the […]
Top Trade Ideas
Lower oil prices are bad news for Norway but good news for the Eurozone. This makes EURNOK sensitive to oil prices which have every chance of remaining volatile for a while yet. With that in mind this triangle formation might be useful for traders. A run up to and rejection of the triangle resistance could […]
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: 1.2750, 1.2619, 1.2500
- Resistance:1.2852, 1.3070, 1.3246
The Euro recovered against US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 1.2852 exposes the 38.2% level at 1.3070. Alternatively, a turn back below the October 13 close at 1.2750 opens the door for a test of the October 1 close at 1.2619.
We took profits on a Euro short position last week and will aim to re-enter the trade in line with ourlong-term fundamental outlook when the opportunity presents itself. The absence of a defined bearish reversal signal suggests pulling the trigger is premature for now.
Bitcoin is trading down $5 dollars in a slow weekend session. The daily range has shrunk from yesterday’s 14 to a mere 9 points today. But the lower volatility is not solely due to the weekend. The 20 Day Daily Range has fallen from $32 dollars on October 7th to $25 dollars today. After a […]