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Top Global Market Stories

EUR/USD Breaks Channel from November Low, AUD/USD Skewed by PBoC

Talking Points: EURUSD slides after Draghi’s comments on a QE program. AUDUSD jumps after PBoC announces surprise rate cut. See the ‘high’ importance events on the DailyFX Economic Calendar. The People’s Bank of China’s decision today to cut its key interest rates in an effort to liberalize the exchange rate and boost consumption (their words, […]

Top Trade Ideas

Top Trade Idea For November 21st, 2014 – EUR/AUD

The Euro is forming a Gartley 222 pattern against the Aussie Dollar. The Gartley is a 3 part correction “A” to “B”; “B” to “C” and finally “C” up to “D”. The move being corrected is usually labelled XA In this case the CD swing has arrived at a 78.6% Fibonacci correction of XA  My […]

MT4 Trading & Education

How To Trade The Parabolic SAR in MT4

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 […]

Featured Chart

Chart Of The Day For November 21th,2014 – EUR/USD

  • EUR/USD Technical Strategy: Short at 1.2710
  • Support: 1.2482, 1.2397, 1.2334
  • Resistance:1.2559, 1.2621, 1.2684

The Euro advanced against the US Dollar as expected after prices put in a bullish Piercing Line candlestick pattern. A daily close above the intersection of a falling trend line and the 38.2% Fibonacci retracementat 1.2559 exposes the 50% level at 1.2621. Alternatively, a reversal below rising trend line support at 1.2482opens the door for a test of the 38.2% Fib expansion at 1.2397.

We sold EURUSD at 1.2710 in line with our long-term fundamental outlook subsequently booked profit on half of the position. The remainder of the trade is open to capture any further downside momentum with a stop-loss trailed to breakeven (1.2710).

EUR/USD Technical Analysis: Short Held at Trend Resistance

 

Bitcoin

bitcoin brokers

Bitcoin Range Continues as Auction Draws Near

Bitcoin’s range around $350 continues for another day, although the last 24 hours showed a bullish bias. After opening at $354.10 prices fell to $348.42 only to rise back above the $350 mark one hour later. The rally took BTC/USD to a daily high $360.99, just shy of yesterday’s high at $362.13. We are currently […]

Global Market Commentary

EUR/USD Breaks Channel from November Low, AUD/USD Skewed by PBoC

Talking Points: EURUSD slides after Draghi’s comments on a QE program. AUDUSD jumps after PBoC announces surprise rate cut. See the ‘high’ importance events on the DailyFX Economic Calendar. The People’s Bank of China’s decision today to cut its key interest rates in an effort to liberalize the exchange rate and boost consumption (their words, […]

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