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Top Global Market Stories

Oil Gains As OPEC Thinking About Supply Cut

After nearly two years without a single resignation from Japanese Prime Minister Shinzo Abe’s cabinet, two female ministers — appointed only last month — stepped down on the same day. Yuko Obuchi, 40, trade and industry minister, resigned over allegations of improper use of political funds, and Justice Minister Midori Matsushima, 58, quit over claims […]

Top Trade Ideas

Top Trade Idea For October 20th, 2014 – USD/JPY

During October, USD/JPY has fallen almost 500 pips and to date, has been the strongest of the G10 currencies. Over the past few trading days, we’ve seen a 200 pip move higher which we feel is only a correction within the current downtrend. Therefore, we’re keen to trade USD/JPY to a new October low. The […]

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 October 21th,2014 – EUR/USD

  • EUR/USD Technical Strategy: Flat
  • Support: 1.2750, 1.2619, 1.2500
  • Resistance:1.2852, 1.3070, 1.3246

The Euro recovered against US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 1.2852 exposes the 38.2% level at 1.3070. Alternatively, a turn back below the October 13 close at 1.2750 opens the door for a test of the October 1 close at 1.2619.

We booked profits on a Euro short position earlier this month and will aim to re-enter the trade in line with our long-term fundamental outlook when the opportunity presents itself. The absence of a defined bearish reversal signal suggests pulling the trigger is premature for now.

EUR/USD Technical Analysis: Digesting Below 1.29 Figure

Bitcoin

bitcoin brokers

Bitcoin Falls After Break of $380

After a short-lived battle with $380, bitcoin broke the support level in the early Asian session today. The break lead to a quick fall to $372.50. In our article yesterday, we mentioned the possibility of this exact scenario. After hitting a daily low of $372, BTC/USD quickly rallied back and is currently retesting $380 again. […]

Global Market Commentary

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

By Ilya Spivak EUR/USD Technical Strategy: Flat Support: 1.2750, 1.2619, 1.2500 Resistance:1.2852, 1.3070, 1.3246 The Euro recovered against US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 1.2852 exposes the 38.2% level at 1.3070. Alternatively, a turn back below the October 13 close at 1.2750 opens the door for a test […]

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