Top Global Market Stories
U.S. oil closed lower on Tuesday, pressured by the possibility that U.S. shale oil producers could increase drilling activity and by a stronger dollar. U.S. drillers cut the number of rigs by just one last week, data showed on Friday, and Goldman Sachs said prices were at a level that would spur activity. The dollar […]
Top Trade Ideas
The GBP/JPY last week peaked above the December high of 189.70, and for a time traded at its highest level since September 2008. But the pound sold off and subsequently the GBP/JPY fell back all the way to 187.85 before bouncing back. The cross has now recovered and it may go on to break out […]
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: 1.0804, 1.0647, 1.0394
- Resistance:1.0930, 1.1056, 1.1213
The Euro declined against the US Dollar as expected after negative RSI divergence hinted at ebbing upside momentum. A daily close below the 61.8% Fibonacci expansion at 1.0804 exposes the 76.4% level at 1.0647. Alternatively, a turn above the 50% Fib at 1.0930 opens the door for a challenge of the 38.2% expansion at 1.1056.
Prices are wedged too closely between near-term support and resistance levels to justify taking a in line with our long-term outlook from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.
Bitcoin is trading barely changed again, in yet another uneventful trading session. After opening at $238.12 on BTC-E, we rallied to a high of $240.32 before falling back to a daily low of $236.41. But ultimately prices closed near the open at $238.57. We are currently trading slightly below yesterday’s open at $237.88. Prices are […]