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Talking Points: EURUSD peeking out of triangle to upside, faces trendline test from March and April highs. GBPUSD holding in flag/double top pattern still, trade entry nears nevertheless. Forex economic calendar heavy with significant US event risk – mainly Durable Goods (MAR). The major European currencies could be close to a crucial turning point versus […]
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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 […]
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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.
Nobuaki Kobayashi, the lawyer in charge of failed bitcoin exchange MtGox, announced today that the Tokyo District Court issued an order for the commencement of bankruptcy proceedings. At the same time, the court appointed him as the bankruptcy trustee. ‘’The power and authority to administer and dispose of the assets of the Company is vested […]