Top Global Market Stories
Talking Points: ST EURUSD triangle begins to break lower; $1.1085 critical support. USDJPY remains rangebound, although NFPs could change that. See the DailyFX economic calendar for Thursday, October 1, 2015. Coming into today, the USDOLLAR Index is trading in an intraweek bull flag just below the early-September highs. With the help of a strong September […]
Top Trade Ideas
Australia is one of those countries where England is referred to as “the old enemy”. These days, thankfully, the reference is usually confined to sporting contents. Over the weekend, Rugby World Cup hosts the English Red Roses will play against the Australian Wallabies. We turn to GBP/AUD to determine a winner. No doubt there will […]
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
- Euro Pausing to Digest Losses After Finding Support Above 1.11 Figure
- Lackluster Follow-Through, Choppy Ranges Make for Inconclusive Setup
The Euro paused to consolidate having declined as expected after prices put in a bearish Dark Cloud Cover candlestick pattern. The pair has struggled with directional conviction since spiking to a seven-month high in late August. Seemingly noteworthy technical breaks have not found follow-through and sliding ATR readings are pointing to ebbing volatility.
Looking ahead, a break below horizontal shelf support at 1.1113 exposes 1.1016, a barrier marked by a rising trend line in play since March and the August 18 low. Alternatively, a move above the September 24 high at 1.1296 clears the way for a challenge of the September 18 swing top at 1.1459.
Positioning is inconclusive at this point. Prices are oscillating in an increasingly choppy range, offering no actionable trade setups to compel us to take a trade. With that in mind, we will remain on the sidelines and wait for greater clarity to emerge before establishing exposure.
Bitcoin is trading in an exceptionally small range of only $2 dollars today. We opened at $236.34 and remained almost flat for the entire session. Bitcoin is currently quoted at $236.83, not even 50 cents higher on the day. Today’s low stands at $235.14 while the high is at $237.19. This puts the daily range […]