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Late last week, we saw a 200 pip fall in EUR/GBP with the low almost reaching 0.78. While price has since pulled back towards 0.79, we expect the 0.78 level to be retested and surpassed later this week. Therefore, we’re looking to trade it. While sterling pairs aren’t our preferred instruments, it’s a light week […]
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Cable has been falling sharply since July of this year; pair lost more than 1000 pips from around 1.7180 high. Leg down was fast and extended so we believe it’s impulsive and part of a much larger bearish trend. As such, any contra-trend or upward reaction will be limited and only a correction within ongoing […]
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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: Short at1.3644
- Support: 1.2783, 1.2718, 1.2653
- Resistance:1.2864, 1.2913, 1.2994
The Euro slid to the lowest level in nearly 15 months against the US Dollar, with sellers now aiming below the 1.28 figure. Near-term support is at 1.2783, the 38.2% Fibonacci expansion, with a break beneath that on a daily closing basis exposing the 50% level at 1.2718. Alternatively, turn above the 23.6% Fib at 1.2864 clears the way for a challenge of the 14.6% expansion at 1.2913.
We sold EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. The rest remains open to capture any further downside momentum with a stop-loss at 1.3583, our initial objective.
Bitcoin is trading mostly unchanged today. In the past 24 hours, the total daily range of BTC/USD was a measly 12 dollars, a far cry from the $50 range days during the fall last week. The crypto seems to slowly easing into a new congestion area between $370 and $415. One coin is currently selling […]