Top Global Market Stories
Crude oil prices gained marginally in Asia onb Tuesday ahead of U.S. industry data on supplies that will set a tone. The American Petroleum Institute will release its estimate of U.S. crude, distillate and gasoline stockpiles last week, with more closely watched data from the U.S. Department of Energy due on Wednesday. On the New […]
Top Trade Ideas
Tuesday’s trend peak in Dollar: CAD confirmed the resistance line of a descending triangle formation. This looks to me like a situation that might provide a trade setup in either direction. The bullish scenario comes out of the Elliot wave playbook. The last major swing higher has the potential to be an impulsive 3rd wave […]
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: 1.1185, 1.0970, 1.0796
- Resistance:1.1318, 1.1533, 1.1659
The Euro is digesting losses after moving sharply lower to threaten the January swing low against the US Dollar. Near-term support is at 1.1185, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 1.0970. Alternatively, a turn above the 1.1276-1318 area (January 30 close, 14.6% Fib expansion) opens the door for a challenge of the February 3 high at 1.1533.
Prices are too close to support to justify entering short in line with our long-term outlookfrom a risk/reward perspective. On the other hand, the absence of a defined bullish reversal signal suggests that taking up thelong side is premature. With that in mind, we will remain flat for now.
Bitcoin rallied $14 dollars today. After opening at $252.20, BTC/USD slowly gained ground until it reached a daily high of $268.51. After closing the session at $266.34, prices are currently stalling around the important $266 mark on BTC-E. Despite two hourly closes above $266, bitcoin has yet to clear the area and move higher. The […]