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Bitcoin is flirting with the round $500 figure. After reaching a high of $528.92 on BTC-E yesterday, the cryptocurrency is trading weaker, down 11 points in today’s session. One bitcoin can be bought for $499.70 on BTC-E and for $503 on BitStamp. The New York Department of Financial Services has decided to extend the comment […]
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After several months of sideways drift, the pound now has the potential to break down against the Canadian Dollar. Comments by Mr. Carney and well behaved UK inflation have recently exerted downward pressure. My trade idea is to sell on a clear break below the 200 day moving average looking for a deeper correction of […]
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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 at 1.3644
- Support: 1.3248, 1.3190-204, 1.3151
- Resistance:1.3291, 1.3345, 1.3432
The Euro managed to break a three-day losing streak against the US Dollar after slumping to the lowest level in eleven months. Near-term support is at 1.3248, the 50% Fibonacci expansion, with a daily close below that exposing the 1.3190-204 area marked by the 61.8% level and a falling channel floor. Alternatively, a turn above 38.2% Fib expansion at 1.3291 clears the way for a challenge of the 23.6% expansion at 1.3345.
We entered short EURUSD at 1.3644 in line with our long-term fundamental outlook and have sincebooked profit on half of the position. The rest is open to capture further weakness with a stop-loss at breakeven.
Analysis provided by Ashton Fraser, learn more about his trading strategies at the Forex Lasers forum. As we discussed yesterday, Bitcoin has been going through wild swings this week, hitting a month low of around 330, only to recover significantly, where it’s currently residing around 515; but as the weekend dawns upon us, it seems […]