Top Global Market Stories
Hang Seng hits near four year high on improving data; Japanese spending figures lift the Nikkei; Lack of economic data could mean more choppiness today; More earnings to come including GSK, BP and Pfizer. European futures are pointing to a slightly positive open on Tuesday following a strong Asian session overnight that saw Japan’s Nikkei […]
Top Trade Ideas
Good day traders! In today’s update we will take a look at USDJPY as this pair can be very interesting for trading in the next couple of days, maybe even weeks. We can see that market is moving sideways for the last six months. A sideways price action is referred as a correction, in our […]
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: Short at 1.3644
- Support: 1.3396, 1.3324, 1.3208
- Resistance:1.3454, 1.3502-12, 1.3583
The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A daily close below support at 1.3396, the 61.8% Fibonacci expansion, clears the way for a decline to the 76.4% level at 1.3324. Alternatively, reversal back above the 50% Fib at 1.3454opens the door for another challenge of the 1.3502-12 area, marked by the 38.2% expansion and the June 5 low.
We entered short EURUSD at 1.3644 in line with our long-term fundamental outlook. We have sincebooked profit on half of the position. The remainder of the trade remains active with a stop-loss at the breakeven level.
Bitcoin staged a reversal of the $562 handle yesterday. After hitting $562.98 on BTC-E, the crypto rallied 19 points to close the day at $581.97. From here, everyone’s favorite cryptocurrency moved somewhat lower to hit $572.50 in today’s trading session. One bitcoin is currently quoted at $581 on BTC-E and at $584 on BitStamp. Going […]