Top Global Market Stories
European futures are pointing to a higher open on Wednesday ahead of the FOMC decision and statement this evening, which could offer clues on the timing of the first rate hike in more than nine years. While indices are expected to open higher, reflecting a higher risk appetite among investors, there is likely to be […]
Top Trade Ideas
FOMC the other day brought nothing but more uncertainty in an FX world dominated by ranges this July as no one really wants to take a chance ahead of the September rate hike or at least ahead of the NFP to come next week. Fed suggested it still wants to see more jobs being created […]
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: 1.1047, 1.0955, 1.0899
- Resistance:1.1121, 1.1195, 1.1287
The Euro corrected modestly lower after an apparent upside breakout marked by a push through falling trend line set from mid-June. A daily close above the 50% Fibonacci retracementat 1.1121 exposes the 61.8% level at 1.1195. Alternatively, a reversal back below the 38.2% Fib at 1.1047 opens the door for a challenge of the 23.6% retracement at 1.0955.
Prices are wedged too closely between near-term support and resistance levels to justify taking a trade in line with our long-term outlook from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.
Bitcoin ended its five-day winning streak today. Prices are trading down by $6 dollars or just above 2 percent on OKCoin. The last four of the five days saw a combined gain of <$7 dollars however. This means that today’s sell-off nearly wiped out all the gains accrued during those days. We are currently quoted […]