Top Global Market Stories
America’s oil in storage just hit another record after rising for the 11th consecutive week. Stockpiles rose 8.2 million barrels, or 1.8 percent, to 466.7 million barrels last week, the EIA reported today. Analysts had expected an increase of 4.75 million barrels. The amount of oil the U.S. is cranking out also edged up slightly, […]
Top Trade Ideas
Insisting on a higher usdcad as the recent move to the downside failed to take the previous lows at the end of the contracting triangle, namely the 1.2400 lows. This gives us quite a nice rr ratio as the stop for this trade is the 1.2400, but the target is quite handsome: above 1.2900, making […]
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: 1.0955, 1.0456, 1.0233
- Resistance:1.1263, 1.1513, 1.1762
The Euro rose as expected against US Dollar, with prices now poised to make a move above the 1.12 figure. Near-term resistance is at 1.1263, the 38.2% Fibonacci retracement, with a break above that on a daily closing basis exposing the 50% level at 1.1513. Alternatively, a reversal below 1.0955 (trend line resistance-turned-support, 23.6% retracement) clears the way for a test of the 1.0456-541 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 traded below the $243 mark today but prices were quick to rebound. The move lower took BTC/USD to a daily low of $235.40. The subsequent rebound lead to a $13 dollars rally that hit $248.66 two hours ago. We are currently quoted at $245.45 on BTC-E, $245.12 on OKCoin and $246.00 on BitStamp. The […]