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Talking Points: Australian Dollar Plummets as Soft CPI Erodes RBA Rate Hike Bets Euro May Decline if Soft PMI Data Boosts ECB Stimulus Speculation Minutes from April’s BOE Meeting Unlikely to Stir Pound Volatility The Australian Dollar sank in overnight after first-quarter CPI data fell short of expectations, pouring cold water on investors’ RBA interest […]
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The results of the April eurozone purchasing managers’ indices were released this morning and on balance have been better than expected. The headline eurozone services sector PMI rose to 53.1 from 52.2 last month while the manufacturing PMI edged up to 53.3 from 53.0 previously. Significantly for the single currency it was Germany, the euro […]
MT4 Trading & Education
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 […]
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 continues to tread water above near the 1.38 figure against the US Dollar, with back-to-back indecision candles offering mixed direction cues. A daily close below the 38.2% Fibonacci expansion 1.3793 initially exposes the 50% level at 1.3758. The first layer of significant resistance is at 1.3905, the April 11 swing high.
We continue to look for a selling opportunity in line with our long-term fundamental outlook but doing so at current levels is unattractive from a risk/reward perspective as prices hover just above near-term support. As such, we will remain flat until an actionable setup presents itself.
Bitcoin carries on from where it left off yesterday, with certain support and resistance zones continuing to act as barriers for price. Let’s take a closer look at the latest BTC/USD Daily chart below: I’ve performed the Fibonacci study from the low of the month at 343, until the high of the […]