Top Global Market Stories
Talking Points: US Dollar Gains Amid Broad Liquidation Across Commodity Markets Follow-Through on Overnight Moves to be Tested as Liquidity Returns Yen Drops, Nikkei Gains as Soft Trade Data Drives BOJ Easing Bets The US Dollar advanced in overnight trade in a move that appeared to mirror a selloff in the commodities space. Crude oil […]
Top Trade Ideas
Time to take a look at the usdjpy pair as this resilience to break lower is leading us to a single possible scenario: running variation of a contracting triangle on the daily chart. This scenario is going to be invalidated only by a move below 100.75 level so this should be the stop loss for […]
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 is stalling at chart support just below the 1.38 figure against the US Dollar having found resistance near the 1.39 mark. A break below support at 1.3793 marked by the 38.2% Fibonacci expansion on a daily closing basis initially exposes the 50% level at 1.3758. The first layer of significant resistance is at 1.3905, the April 11 swing high.
Our long-term fundamental outlook continues to argue for Euro weakness. Prices are too close to near-term support to justify a short position at current levels from a risk/reward perspective. With that in mind, we will remain on the sidelines until a more attractive opportunity presents itself.
Bitcoin prices barely changed in the last 24 hours. On BTC-E, we opened at $486. After a failed break above the $500 mark, we are currently trading 50 cents above the daily open at $486.50. Prices are slightly higher on BitStamp at $496.53 for one bitcoin. Major online retailer Amazon.com declined to introduce a bitcoin […]