Top Global Market Stories
Nikkei rises despite less dovish minutes OPEC meeting expected to see oil output cut German GDP expected to confirm avoidance of recession BoE inflation report hearing put pressure on Carney over falling inflation. A cautious yet positive start to the day is expected for the European markets today, following the establishment of record highs in […]
Top Trade Ideas
Since late September, GBP/NZD (‘the pound’ against the New Zealand dollar) has fallen 1400 pips. We feel that this trend will continue and will discuss a trade for expected move lower. The recent move higher provides an opportunity to trade it short. This eight-hour GBP/NZD chart starts at the early November 2014 high of 2.0812 […]
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: Short at 1.2710
- Support: 1.2360, 1.2213, 1.1974
- Resistance:1.2549, 1.2599, 1.2770
The Euro may have resumed its longer-term decline against the US Dollar after prices completed a Flag continuation chart pattern last week. A daily close below the 14.6% Fibonacci expansionat 1.2360 exposes the 23.6% level at 1.2213. Alternatively, a reversal above falling trend line resistance at 1.2549opens the door for a test of the November 19 high at 1.2599.
We sold EURUSD at 1.2710 in line with our long-term fundamental outlook subsequently booked profit on half of the position. The remainder of the trade is open to capture any further downside momentum with a stop-loss trailed to breakeven (1.2710).
Bitcoin is trading down 1 percent today, after a mid-day reversal erased most of the gains from yesterday&today. After opening at $376.87, BTC/USD continued the rally, eventually hitting a high of $388.99. But prices didn’t stay high for long and one hour later BTC already lost 1.5%. As the day progressed, the losses continued and […]