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Japan imported U.S. oil for the first time in four years as companies find ways around a four-decade ban on American exports and the Asian nation seeks to cut its dependence on Middle East suppliers. Japan, which relies on Saudi Arabia for 33 percent of its supply, imported about 300,000 barrels of oil from the […]
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Falling commodity prices – noticeably iron ore and oil – are putting further downward pressure on AUD/USD. Stakeholder interests are largely aligned here. The RBA, the government and business all have a lower exchange rate on their Christmas wish list. The current drop has pushed the pair below the four year lows, and a big […]
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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: 1.2360, 1.2213, 1.1974
- Resistance:1.2522, 1.2599, 1.2770
The Euro advanced to re-test the upper boundary of its 8-week down trend against the US Dollar having found a floor below the 1.24 figure. A daily close above trend line resistance at 1.2522 exposes the November 19 high at 1.2599. Alternatively, a reversal below the 14.6% Fibonacci expansion at 1.2360opens the door for a test of the 23.6% level at 1.2213.
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 is trading flat ahead of the ”Black Friday” event. After opening at $363.78, prices fell slightly to $361 per coin but BTC recovered soon after. In the next few hours, a high of $369.99 was reached. This is where most of the action stopped however and BTC/USD spent the rest of the day in […]