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Bitcoin in Limbo After Break Higher

Bitcoin is still struggling to rally, even after prices cleared the $238 resistance on OKCoin. On BTC-E, we have yet to clear the $243.86 swing high. Prices today got as high as $243.92 but quickly sold-off once the new high was reached. Here’s a 1 hour snapshot of today’s price action on BTC-E. On OKCoin, […]

Top Trade Ideas

The People’s Currency – Top Trade Idea for May 1st, 2015

Never traded the Chinese yuan? The real possibility that USD/CNY will one day be as important as EUR/USD means it’s never too early to start. At the moment, the Remnimbi (or “the people’s currency”) is a dirty float – the rate is allowed to fluctuate but ultimately is controlled by the central bank.  The People’s […]

MT4 Trading & Education

How To Trade The Parabolic SAR in MT4

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 […]

Featured Chart

Chart Of The Day For May 1st,2015 – EUR/USD

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Support: 1.1040, 1.0712, 1.0461
  • Resistance:1.1266, 1.1515, 1.1764

The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the 38.2% Fibonacci retracementat 1.1266 exposes the 50% level at 1.1515. Alternatively, a reversal below the 1.0959-1.1040 area (23.6% Fib, March 18 high) opens the door for a challenge of the March 31 low at 1.0712.

Our long-term outlook calls for broad-based Euro weakness. With that in mind, we will treat any on-coming gains as corrective in the context of a larger structural decline and look for opportunities to enter short after upward momentum has been exhausted.

EUR/USD Technical Analysis: Rally Meets Hurdle Below 1.13

Bitcoin

bitcoin brokers

Bitcoin in Limbo After Break Higher

Bitcoin is still struggling to rally, even after prices cleared the $238 resistance on OKCoin. On BTC-E, we have yet to clear the $243.86 swing high. Prices today got as high as $243.92 but quickly sold-off once the new high was reached. Here’s a 1 hour snapshot of today’s price action on BTC-E. On OKCoin, […]

Global Market Commentary

The People’s Currency – Top Trade Idea for May 1st, 2015

Never traded the Chinese yuan? The real possibility that USD/CNY will one day be as important as EUR/USD means it’s never too early to start. At the moment, the Remnimbi (or “the people’s currency”) is a dirty float – the rate is allowed to fluctuate but ultimately is controlled by the central bank.  The People’s […]

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