Top Global Market Stories
The euro gained on the U.S. dollar and the yen held steady in a thinned-holiday Asian trading session overnight. But as tensions rise between Russia and the West, and the violence in the Gaza Strip becomes increasingly bloody, geopolitical events remain the focal point for investors and all asset classes. The corporate earnings season is […]
Top Trade Ideas
Since mid-March, the euro has lost about 7% of its value against the Canadian dollar. This trend seems likely to continue but has paused around the 1.4441 level. While it seems poised to move higher in a countertrend move possibly towards the 1.50 level, we recognize the price action of the countertrend and see a […]
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: Short at 1.3644
- Support: 1.3502-12, 1.3454, 1.3396
- Resistance:1.3583-607, 1.3650, 1.3689
The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A daily close below support in the 1.3502-12 area, marked by the 38.2% Fibonacci expansion and the June 5 low, initially exposes the 50% level at 1.3454. Alternatively, reversal back above the 1.3583-1.3607 zone (23.6% Fib, trend line) targets 1.3650 (July 10 high).
We entered short EURUSD at 1.3644 in line with our long-term fundamental outlook. We have sincebooked profit on half of the position. The remainder remains active with a stop-loss at the breakeven level to capture any further weakness in the days ahead.
Bitcoin prices are still moving around aimlessly between $600 and $633. Today, the range from high to low was a total of 4 dollars as BTC/USD slashed between $616 and $620. Here is today’s uneventful trading session on BTC-E. Since nothing new is going on at the price front, see yesterday’s roundup for the possible […]