Top Global Market Stories
U.S. crude futures edged up on Wednesday, following a more than 7 percent decline over the past three days, as Iran and world powers negotiated beyond a Tuesday deadline, raising uncertainty over a nuclear deal that could add to a global crude glut. Nymex crude for May delivery was up 9 cents at $47.69 a […]
Top Trade Ideas
Many traders will refuse an each way bet. That is, if a trade goes against them, they won’t reverse and go in the new direction. Usually this is a result of at least one painful “whipsawing” as an inexperienced trader. Yet experienced traders know when to break the rules,, and the Mexican peso’s positioning at […]
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: 1.0640, 1.0456, 1.0386
- Resistance:1.0797, 1.0894, 1.1051
The Euro is aiming at support below the 1.07 figure against the US Dollar after putting in a Bearish Engulfing candlestick pattern. Near-term support is at 1.0640, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing the 1.0456-1.0513 area (50% level, March 16 low). Alternatively, a reversal above the 23.6% Fib at 1.0797 clears the way for a test of the 14.6% expansion at 1.0894.
Prices are wedged too closely between near-term support and resistance levels to justify taking a trade in line with our long-term outlookfrom a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.
Bitcoin is continuing the yo-yo price action. After yesterday’s gain of $7 dollars today we are down by $4. The cryptocurrency just can’t seem to string together a few days of either gains or losses. We have been trading between the $235 and $250 mark for the past few days. Here’s a chart of today’s […]