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AUDNZD at possible head and shoulders neckline

The AUDNZD pair is currently testing a key level of resistance, which forms the would-be neckline of a double top formation. The existence of bullish momentum indicators and a trendline break is bringing about the possibility of upside price pressure. The daily chart shows there is a significant degree of indecision around the highly notable […]

Top Trade Ideas

Top Trade Idea For April 22nd, 2014 – EUR/USD

Two weeks back we were looking for long set-up on the EURUSD pair when our target was meet just few days if not sessions after the announcement. Well, since then this market slowed down and made a nice pullback which technically speaking looks like another trading opportunitie. Notice that trend has changed at 1.3671 after […]

MT4 Trading & Education

How To Interpret Backtesting Results In Metatrader 4

Hi, this is Shaun Overton with ForexNews.com and OneStepRemoved.com. In this 5 minute video, I’m going to show you how to interpret backtesting results in MetaTrader 4. You can follow along using a free OANDA demo account by clicking the link below this video. Register For A Free OANDA Demo Account Video Script:  Before we […]

Featured Chart

Chart Of The Day For April 22nd, 2014 – EUR/USD

By ,

  • EUR/USD Technical Strategy: Pending Short
  • Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.)
  • Resistance: 1.3905 (Apr 11 high)

The Euro remains in consolidation mode against the US Dollar, with prices waiting for a clear-cut directional catalyst near the 1.38 figure. A daily close below the 38.2% Fibonacci expansion 1.3793 initially exposes the 50% level at 1.3758. The first layer of significant resistance is at 1.3905, the April 11 high.

Our long-term fundamental outlook calls for a weaker Euro but taking a short here is unattractive from a risk/reward perspective given the pair’s proximity to near-term support. As such, we will remain on the sidelines for the time being and wait for a more actionable selling opportunity to presents itself.

EUR/USD Technical Analysis – Waiting for Selling Opportunity

Bitcoin

Bitcoin: BTC/USD Technical Analysis – 22nd April 2014

Bitcoin continues to swim through key support and resistance zones, with this pattern likely to carry on for the short term at least. Let’s take a closer look at the latest BTC/USD four hour chart below (click to expand): I’ve performed today’s Fibonacci study from the low of the month at 343, until the high […]

Global Market Commentary

AUDNZD at possible head and shoulders neckline

The AUDNZD pair is currently testing a key level of resistance, which forms the would-be neckline of a double top formation. The existence of bullish momentum indicators and a trendline break is bringing about the possibility of upside price pressure. The daily chart shows there is a significant degree of indecision around the highly notable […]

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