Top Global Market Stories
WTI crude rose more than 3 percent on Tuesday as a weaker dollar propped up commodities priced in the currency, prompting short-covering in a market that has sold off with little pause over the past seven months. Even so, gains in oil were capped by fears of another large build in U.S. crude stocks, traders […]
Top Trade Ideas
The sun rises on a new trading day, and traders rolled out of bed particularly eagerly today in anticipation of the Fed’s monetary policy announcement. With a staggering number of central banks across the world turning more dovish over the past two weeks, traders are starting to wonder if the Fed can maintain its moderately […]
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: Flat
- Support: 1.1311, 1.1096, 1.0958
- Resistance:1.1444, 1.1659, 1.1832
The Euro may be readying to turn upward against the US Dollar after producing a bullish Morning Star candlestick pattern. Near-term resistance is at 1.1444, the intersection of the 23.6% Fibonacci retracement and a falling trend line, with a break above that on a daily closing basis targeting the 38.2% level at 1.1659. Alternatively, a turn below the 14.6% Fib at 1.1311 clears the way for a test of the January 26 low at 1.1096.
We expect any on-coming EURUSD strength to be corrective, in line with our long-term outlook. With that in mind, we will treat upside momentum as an opportunity to enter short at a more attractive level and remain on the sidelines in the interim.
Bitcoin continued the decline today, falling by another $12 dollars. After opening the day at $264.08 BTC/USD traded down to a low of $241 by mid-day. The fledgling cryptocurrency spent the rest of Tuesday recouping some of the losses, eventually closing at $252 flat. We are currently quoted at $254 on BTC-E, $263.50 on BitStamp […]