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Top Global Market Stories

West TX Oil at $99.95 as U.S. Fuel Supplies Rise

West Texas Intermediate dropped for a fourth day and slipped below $100 as gasoline stockpiles rose and demand declined in the U.S., the world’s biggest oil user. Brent decreased in London. Futures fell as much as 1.1 percent in New York. Gasoline supplies expanded by 365,000 barrels last week to 218.2 million, the highest level […]

Top Trade Ideas

Top Trade Idea For July 31st, 2014 – USDJPY

Bullish break for the usdjpy pair as it is benefiting from better than expected US data (from a fundamental point of view) and a contracting triangle that broke higher (from a technical point of view). The fact that this contracting triangle is on the daily chart should be taken seriously as the b-d trend line […]

MT4 Trading & Education

How To Trade The Parabolic SAR in MT4

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 […]

Featured Chart

Chart Of The Day For July 31st, 2014 – EUR/USD

  • EUR/USD Technical Strategy: Short at 1.3644
  • Support: 1.3396, 1.3324, 1.3208
  • Resistance:1.3454, 1.3502-12, 1.3583

The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A daily close below support at 1.3396, the 61.8% Fibonacci expansion, clears the way for a decline to the 76.4% level at 1.3324. Alternatively, reversal back above the 50% Fib at 1.3454 opens the door for another challenge of the 1.3502-12 area, marked by the 38.2% expansion and the June 5 low.

We entered short EURUSD at 1.3644 in line with our long-term fundamental outlook. We have sincebooked profit on half of the position. The remainder of the trade remains active with a stop-loss at the breakeven level.

EUR/USD Technical Analysis: Pressuring Support Sub-1.34

Bitcoin

bitcoin brokers

Bitcoin Retests $563, Important $550 Level Eyed

Bitcoin is currently retesting the small support at $563. Earlier in the day, prices bounced of the figure and rallied to $572. We are again staging an attack and the odds are stacked to BTC heading lower. Below $563, the next significant level of support can be found at $550. Lower still, the round psychological […]

Global Market Commentary

Chart Of The Day For July 31st, 2014 – EUR/USD

By Ilya Spivak EUR/USD Technical Strategy: Short at 1.3644 Support: 1.3396, 1.3324, 1.3208 Resistance:1.3454, 1.3502-12, 1.3583 The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A daily close below support at 1.3396, the 61.8% Fibonacci expansion, clears the way for a decline to the 76.4% level at 1.3324. Alternatively, reversal back above the 50% […]

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