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Oil prices dipped in Asian morning trading on Monday, adding to steep losses in the previous session, as Iran and six world powers tried to reach a deal that could add oil to the market if sanctions against Tehran are lifted. Iran and six world powers tried to break an impasse in nuclear negotiations on […]
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Many traders will refuse an each way bet. That is, if a trade goes against them, they won’t reverse and go in the new direction. Usually this is a result of at least one painful “whipsawing” as an inexperienced trader. Yet experienced traders know when to break the rules,, and the Mexican peso’s positioning at […]
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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: Flat
- Support: 1.0832, 1.0456, 1.0244
- Resistance:1.1051, 1.1263, 1.1513
The Euro rose as expected against US Dollar after producing a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.1051, the March 26 high, with a break above that on a daily closing basis exposing the 38.2% Fibonacci retracement at 1.1263. Alternatively, a push below trend line resistance-turned-support at 1.0832 clears the way for a test of the 1.0456-1.0552 area (March 16 low, the 23.6% Fib expansion).
Our long-term outlook envisions Euro weakness. With that in mind, we will treat any on-coming upswing as corrective and look to enter short once signs of a renewed turn lower emerge. In the meantime, we will remain on the sidelines.
Bitcoin is trading down by $12 dollars today. After opening at $249.15 prices rose slightly to $250.75 but from here it was down all the way. By mid-day we had hit $238.12. A second arch lower took BTC/USD to $235.99, just 59 cents away from the March 25th swing low. We are currently trading at […]