Top Global Market Stories
After a two-month hiatus, Russia’s appetite for buying gold is back. The nation increased foreign reserves of bullion to 39.8 million ounces, or about 1,238 metric tons, as of April 1, compared with 38.8 million ounces a month earlier, the central bank said on its website Monday. The 30-ton purchase was the most since September. […]
Top Trade Ideas
Today’s Top Trade Idea AUDUSD is turning up after a “failure” break to new low at the start of April. We have seen new low for only 30 pips or so, which makes us think that this is not wave (5) yet as leg seems to be too small. As such, we are tracking wave […]
MT4 Trading & Education
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: 1.0712, 1.0461, 1.0246
- Resistance:1.1040, 1.1266, 1.1515
The Euro pushed higher against the US Dollar as expected following the appearance of a bullish Morning Star candlestick pattern. A daily close above the March 18 high at 1.1040 exposes the 38.2% Fibonacci retracement at 1.1266. Alternatively, a turn back below the March 31low at 1.0712 opens the door for a challenge of the 1.0461-1.0554 area (March 13 low, 23.6% Fibonacci expansion).
Our long-term outlook calls for broad-based Euro weakness. With that in mind, we will treat any on-coming gains as corrective in the context of a larger structural decline and look for opportunities to enter short after upward momentum has been exhausted.
Bitcoin is up $1 dollar today as the zig-zag price movement continues. After opening at $220.69 BTC/USD rallied to a high of $224.56. But as you can probably guess, the rally proved unsustainable and near the end of the session bitcoin was trading back near the $220 mark. We are currently quoted at $221.60 on […]