Top Global Market Stories
Bitcoin has managed to climb above the $500 support level mentioned in our previous daily roundup. Prices should now remain supported by the this figure, at least in the near term. Yesterday BTC rallied 27 dollars, from $474 to $500. During today’s morning session bitcoin continued the rally upward, hitting a daily high of $528. […]
Top Trade Ideas
It is a while now since we looked at the eurusd pair and it is time to see what recent moves indicate for the short/medium term. From the moment the pair almost touched the 1.40 level price new nothing but the downside with some vicious moves, leaving bulls not the slightest chance to exit a […]
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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, 1.3195-204, 1.3151
- Resistance:1.3291, 1.3345, 1.3432
The Euro accelerated downward against the US Dollar after carving out a Triangle chart formation, hitting the lowest level in 11 months. A daily close below the 50% Fibonacci expansion at 1.3248 exposes the 1.3195-1.3204 area, marked by the 61.8% level and a falling channel floor. Alternatively, a turn above the 38.2% Fib expansion at 1.3291 opens the door for a test of the 23.6% threshold at 1.3345.
We sold EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. The rest remains open to capture continued downside momentum. The stop-loss is now at breakeven level.
In short, it’s a tough call. There are factors pointing in both directions. BTC/USD is coming off a rise of 10% within 24h and a 67% recovery from its flash crash to $309 on BTC-e. The question is if the rally is slowing down and Bitcoin settling for the mid-term, effectively doing enough justice to mirror the pace and […]