Top Global Market Stories
Strap in and be prepared for opportunities, as this is a big week for investors and capital markets. Geopolitical events, a few central bank meetings, and the Scottish referendum are supporting the recent uptick to both volume and volatility, especially in the forex asset class. The U.S. dollar remains king, as both the currency and […]
Top Trade Ideas
Last week, we recommended a USD/CHF long towards 0.9350 on a fourth wave pullback. While our target was reached, price didn’t pull back enough to trigger the entry. This time, we’ve waited for a euro fourth wave pullback to end and have designed a short trade around it. This one-hour chart includes a simple Elliott […]
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 at1.3644
- Support: 1.2864, 1.2794, 1.2708
- Resistance:1.2981, 1.3057, 1.3104
The Euro may be preparing to correct higher against the US Dollar after prices completed a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2981, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.3057. Alternatively, a reversal below the 50% Fib expansion at 1.2864 clears the way for a challenge of the 61.8% threshold at 1.2794.
We sold EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. The rest remains open to capture any further downside momentum with a stop-loss at 1.3583, our initial objective.
Bitcoin is retesting the lower end of the $460-$485 range. Prices got as low as $460.90 in the early part of today’s trading session. But the move lower was soon countered by yet another rally that brought up BTC back over $467 per coin. Bitcoin is currently quoted at $463.10 on BTC-E. As usual prices […]