Top Global Market Stories
The dollar softened in afternoon trading as tensions in the Ukraine were ratcheted up after news that Ukrainian soldiers had killed up to five armed pro-Russian separatists. After which Russian President Vladimir Putin said that if the authorities in Kiev had used the army in eastern Ukraine, this would be a very serious crime against […]
Top Trade Ideas
Time will tell if this analysis will turn to bear fruits as it implies the current gap in the eurusd is not going to be filled anytime soon. The reason for calling such a thing is the fact that the whole pattern there, in the green labeling, is supposed to be a flat and the […]
MT4 Trading & Education
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 […]
By Ilya Spivak,
- 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.
Bitcoin carries on from where it left off yesterday, with certain support and resistance zones continuing to act as barriers for price. Let’s take a closer look at the latest BTC/USD Daily chart below: I’ve performed the Fibonacci study from the low of the month at 343, until the high of the […]