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West TX Oil up to $83 on Cut in Saudi Oil Supply

West Texas Intermediate surged from its lowest closing price in more than two years as Saudi Arabia trimmed crude oil supply in September. Futures gained as much as 1.7 percent in New York, recording the biggest increase since Oct. 17 and erasing an earlier fall of 0.6 percent. The biggest producer in the Organization of […]

Top Trade Ideas

Top Trade Idea For October 24th, 2014 – Sell the Tasman Twins

AUD/NZD has traded in a sideways range for more than 3 months, bounded by 1.0917 and 1.1293. This week, inflation data in NZ came in weaker than expected; leading analysts to suggests that the RBNZ may pause in its current lifting of cash rates.  Under this scenario, Mr Market may expect the Kiwi dollar to […]

MT4 Trading & Education

How To Trade The Parabolic SAR in MT4

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 […]

Featured Chart

Top Trade Idea For October 24th, 2014 – Sell the Tasman Twins

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AUD/NZD has traded in a sideways range for more than 3 months, bounded by 1.0917 and 1.1293. This week, inflation data in NZ came in weaker than expected; leading analysts to suggests that the RBNZ may pause in its current lifting of cash rates.  Under this scenario, Mr Market may expect the Kiwi dollar to fall.

Instead, the NZD is strengthening, pushing AUD/NZD lower:

Untitled

Some traders interpret this sort of “against the news” move as a sign of an underlying current or impulse. The chart looks like a reversal to me. Candles turning red from blue, two “hanging man” style dojis, and a (short) series of lower highs and lower lows.

I’m a seller on a breach of the low of the previous 4 hour candle, at 1.1157. My stop goes above the high of the hanging man, at 1.1227. While it is nice to think the bottom of the range at 1.0917 is the target, the repeated bounces of 1.0980 mean my target will be closer to 1.1000.

Bitcoin

Bitcoin: BTC/USD Technical Analysis – 23rd October 2014

Bitcoin (BTC/USD) has just broken through $361 to $358 on BTC-e, setting a new 10-day low and suggesting a possible return into the low $300’s during the next 2-4 weeks. BTC has declined by over 5% during the past 12h, a relatively large move during what has become a fairly quiet 2 weeks of trading. […]

Global Market Commentary

Top Trade Idea For October 24th, 2014 – Sell the Tasman Twins

AUD/NZD has traded in a sideways range for more than 3 months, bounded by 1.0917 and 1.1293. This week, inflation data in NZ came in weaker than expected; leading analysts to suggests that the RBNZ may pause in its current lifting of cash rates.  Under this scenario, Mr Market may expect the Kiwi dollar to […]

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