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Crude oil prices settled up 3 percent on Thursday, hitting 2015 highs, while U.S. gasoline reached 5-month peaks after Saudi Arabia and its allies maintained a bombing blitz in Yemen that heightened concerns about the security of Middle East oil supplies. Oil buyers also stoked the rally with bets that U.S. crude output will shrink […]
Top Trade Ideas
The Euro recently dropped out of a double top pattern against the Pound. Since moving below the double top support (“B”) , it has fallen by an amount almost exactly equivalent to 61.8% of the pattern height. 61.8% is the Fibonacci ratio and it’s quite common for price to stop at this point after completing […]
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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: 1.0712, 1.0461, 1.0246
- Resistance:1.1040, 1.1266, 1.1515
The Euro is trying to mount a recovery against the US Dollar as expected after showing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1040, the March 18 high, with a break above that on a daily closing basis exposing the 38.2% Fibonacci retracement at 1.1266. Alternatively, a move back below the March 31 low at 1.0712 clears the way for a test of the 1.0461-1.0554 area (March 13 low, 23.6% Fibonacci expansion).
We see the Euro trend as broadly bearish, in line with our long-term outlook. As such, we will approach on-coming gains as corrective in the context of a larger structural decline and position for opportunities to enter short after the move higher is exhausted. In the meantime, we remain flat.
Bitcoin is trading up by $1 dollar in a calmer trading session. After opening at $231.98, BTC/USD first fell to a low of $230.32, only to rally back and hit a high of $233.71 later in the day. Eventually the cryptocurrency closed the day at $231.50, just 48 cents below its opening price. The slow […]