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Draghi’s Dovish Remarks Suffocate EUR Market expects ECB to announce new measures in December Greater Euro/U.S rate divergence needs to be priced The euro bear got a subtle hint yesterday to consider “not” booking any EUR profits just yet, all because the EUR bull happened to be blinded by flash purchasing mangers’ index (PMI) numbers. […]
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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 […]
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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 1.2710
- 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).
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 […]