Top Global Market Stories
Crude oil prices gained marginally in Asia onb Tuesday ahead of U.S. industry data on supplies that will set a tone. The American Petroleum Institute will release its estimate of U.S. crude, distillate and gasoline stockpiles last week, with more closely watched data from the U.S. Department of Energy due on Wednesday. On the New […]
Top Trade Ideas
Tuesday’s trend peak in Dollar: CAD confirmed the resistance line of a descending triangle formation. This looks to me like a situation that might provide a trade setup in either direction. The bullish scenario comes out of the Elliot wave playbook. The last major swing higher has the potential to be an impulsive 3rd wave […]
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: 1.1185, 1.0970, 1.0796
- Resistance:1.1318, 1.1533, 1.1659
The Euro continues to digest losses after issuing its largest daily decline in nearly a month against the US Dollar. A daily close below the 23.6% Fibonacci expansionat 1.1185 exposes the 38.2% level at 1.0970. Alternatively, a reversal above the 1.1276-1318 area (January 30 close, 14.6% Fib expansion) clears the way for a test of the February 3 high at 1.1533.
Risk/reward considerations argue against entering shortin line with our long-term outlook as prices sit squarely at support. We will remain on the sidelines for the time being, waiting for a more actionable opportunity to present itself.
Bitcoin rallied $14 dollars today. After opening at $252.20, BTC/USD slowly gained ground until it reached a daily high of $268.51. After closing the session at $266.34, prices are currently stalling around the important $266 mark on BTC-E. Despite two hourly closes above $266, bitcoin has yet to clear the area and move higher. The […]