Top Global Market Stories
U.S. oil scored modest gains on Thursday on news that U.S. crude stocks fell for a fourth week, suggesting the U.S. market was rebalancing after a long period of oversupply. U.S. crude closed up 17 cents, or 0.3 percent, at $57.68 a barrel. Front-month Brent was 40 cents higher at $62.50 a barrel, after earlier […]
Top Trade Ideas
This is a continuation of our previous usdcad analysis from last week as the take profit on the long trade we recommended was hit and then we said that we want to sell the 1.2520 level. Well, it may be that that area is not going to come so today’s trade idea is to sell […]
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: 1.0804, 1.0647, 1.0394
- Resistance:1.0930, 1.1056, 1.1213
The Euro may be preparing to turn higher against the US Dollar following the appearance of a bullish Morning Star candlestick pattern. A daily close above the 14.6% Fibonacci expansion at 1.0956 exposes the 23.6% threshold at 1.1042. Otherwise, a turn below the 61.8% level of an alternate Fib expansion setup at 1.0804 opens the door for a challenge of the 76.4% barrier at 1.0647.
Ourlong-term outlook calls for broad-based Euro weakness. With that in mind, we will treat any on-coming gains as corrective and wait for the move higher to offer a selling opportunity. In the meantime, we will remain on the sidelines.
Bitcoin is nearing decision time as the daily range continues to drop. Today we hit a new multi-year low of only $2.11 dollars. After opening at $238.34 we slowly moved up to $239.99, then drifted to the downside to hit the daily low at $237.87. We closed at $239.21, just 87 cents above the open. […]