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Brent crude has been under intense pressure recently and continues to trade in the descending channel that it briefly broke above last month. It found some support yesterday from the middle of March lows around $52 but was not necessarily showing any signs of reversing the trend, despite a small rally later on in the […]
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FOMC the other day brought nothing but more uncertainty in an FX world dominated by ranges this July as no one really wants to take a chance ahead of the September rate hike or at least ahead of the NFP to come next week. Fed suggested it still wants to see more jobs being created […]
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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: Flat
- Support: 1.0888, 1.0814, 1.0740
- Resistance:1.1047, 1.1121, 1.1195
The Euro put in a bearish Evening Star candlestick pattern, hinting the down trend against the US Dollar may be resuming. Near-term support is at 1.0888, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing the 1.0814-18 area (50% level, May 27 low). Alternatively, a turn above the 38.2% Fib retracement at 1.1047 clears the way for a test of the 50% threshold at 1.1121.
While it is tempting to enter short in line with our long-term outlook, prices are too close to support to justify pulling the trigger at market from a risk/reward perspective. Instead, we will establish a pending order to sell the pair at 1.1008. If triggered, the trade will initially target 1.0888.
Bitcoin ended its five-day winning streak today. Prices are trading down by $6 dollars or just above 2 percent on OKCoin. The last four of the five days saw a combined gain of <$7 dollars however. This means that today’s sell-off nearly wiped out all the gains accrued during those days. We are currently quoted […]