Top Global Market Stories
It’s been a very quiet week in the financial markets and European indices are on course to end on a mixed note, while US futures are pointing to a slightly weaker open. The FTSE and the pound are being well supported again today after the latest YouGov poll showed a u-turn in the voting on […]
Top Trade Ideas
I love it when a triple signal comes together! EUR/AUD has rallied almost 5 big figures over the last 5 trading days. This looks like a stunning reversal of an established down trend: The rally brings the pair back to the 50 day moving average, the trend line, and previous support/resistance at 1.4275. Fundamentally, both […]
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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: Short at1.3644
- Support: 1.2864, 1.2794, 1.2708
- Resistance:1.2981, 1.3057, 1.3104
The Euro may be preparing to correct higher against the US Dollar after prices completed a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2981, the 14.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 23.6% level at 1.3057. Alternatively, a reversal below the 50% Fib expansion at 1.2864 clears the way for a challenge of the 61.8% threshold at 1.2794.
We sold EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. The rest remains open to capture any further downside momentum with a stop-loss at 1.3583, our initial objective.
Bitcoin is still stuck inside the congestion area between $460 and $485. This is now the 10th day of range-bound trading. In the past 24 hours, BTC/USD fell to a daily low of $464.94 only to bounce right back above the $470 mark two hours later. One coin is currently selling for $470 on BTC-E, […]