Top Global Market Stories
Oil prices surged Tuesday on profit-taking following a rally in the previous session triggered by signals that the world’s biggest producers of crude may act jointly to support prices, which have halved over the past year. Brent crude, the global oil benchmark, was up $1.28, or 2.6 percent, at $50.53 a barrel by 9:53 a.m. […]
Top Trade Ideas
The big news in global markets today is Anheuser-Busch InBev’s higher buyout offer to SABMiller. After the British-domiciled SABMiller turned down offers of £38 and £40 per share earlier, AB InBev raised its latest proposal to £42.15/share for a total value of $104B. If accepted and approved by anti-trust regulators (a big risk to any […]
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
- Euro Pausing to Digest Losses After Finding Support Above 1.11 Figure
- Lackluster Follow-Through, Choppy Ranges Make for Inconclusive Setup
The Euro paused to consolidate having declined as expected after prices put in a bearish Dark Cloud Cover candlestick pattern. The pair has struggled with directional conviction since spiking to a seven-month high in late August. Seemingly noteworthy technical breaks have not found follow-through and sliding ATR readings are pointing to ebbing volatility.
Looking ahead, a break below horizontal shelf support at 1.1113 exposes 1.1016, a barrier marked by a rising trend line in play since March and the August 18 low. Alternatively, a move above the September 24 high at 1.1296 clears the way for a challenge of the September 18 swing top at 1.1459.
Positioning is inconclusive at this point. Prices are oscillating in an increasingly choppy range, offering no actionable trade setups to compel us to take a trade. With that in mind, we will remain on the sidelines and wait for greater clarity to emerge before establishing exposure.
Bitcoin is slowly closing in on the $250 dollars handle. Today we opened at $239.61 on OKCoin. We stayed flat for most of the session until an afternoon rally took BTC/USD to a daily high of $248.36. We are currently quoted at $246 dollars per coin. The 15 minute OKCoin chart below is from TradingView, […]