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Top Global Market Stories

Gold – Drops Sharply Below Key $1240 Level

Gold for Friday, October 24, 2014 Over the last few days to finish out last week Gold ran into the previous key level at $1240, however it then surged higher to a five week high at $1255 a few days ago.  In the last couple of days however it has fallen strongly back down below […]

Top Trade Ideas

Top Trade Idea For October 23rd, 2014 – AUD/USD

It is time to give the old audusd a bit of credentials to the upside as from my point of view market is screaming to break higher out of the contracting triangle that can be seen at the bottom of the chart in the above picture. The whole move seems to be a d wave […]

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 October 23rd,2014 – EUR/USD

  • EUR/USD Technical Strategy: Pending Short at 1.2710
  • Support: 1.2500, 1.2316, 1.2140
  • Resistance:1.2731, 1.2852, 1.3070

 The Euro appears to be resuming the dominant down trend against the US Dollar after rebounding from the 1.25 figure, as expected. A daily close below support in the 1.2500-34 area marked by the October 3 low and the 23.6% Fibonacci expansion exposes the 38.2% level at 1.2316. Alternatively, a turn above channel support-turned-resistance at 1.2731 clears the way for a challenge of the 23.6% Fib retracement at 1.2852.

 Risk/reward considerations are skewed against entering short at current levels and we will establish a pending order to sell the pair at 1.2710 in line with our long-term fundamental outlook. If triggered, the trade will initially target 1.2534 with a stop-loss activated on a daily close above 1.2886.

EUR/USD Technical Analysis: Short Entry Setup Established

Bitcoin

Bitcoin: BTC/USD Technical Analysis – 23rd October 2014

Bitcoin (BTC/USD) has just broken through $361 to $358 on BTC-e, setting a new 10-day low and suggesting a possible return into the low $300’s during the next 2-4 weeks. BTC has declined by over 5% during the past 12h, a relatively large move during what has become a fairly quiet 2 weeks of trading. […]

Global Market Commentary

Traders turn to US data following mixed bag in Europe

Encouraging PMIs from Germany and eurozone but France continues to disappoint; UK retail sales fall more than expected in September; Plenty of data and earnings for traders to get their teeth stuck into today. US futures are pointing to a strong open despite receiving little direction from Europe on Thursday. Stocks in Europe are quite […]

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