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What will come of the weak EUR bear position holders as the 18-member single unit trades up through the psychological €1.3200 handle? Clouding some of this morning’s price action will be month-end demand but with word that Russian forces have seized a coastal town inside of Ukraine on Thursday morning, geopolitical risk is once again […]
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For the audusd pair there is still trouble ahead as the path of least resistance seems to be still to the downside and not the upside like recent price action might indicate. The thing is that the pair is consolidating for the last 5 months around 0.95 and 0.9300 levels, so 200 pips range that […]
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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 at 1.3644
- Support: 1.3151, 1.3041-64, 1.2977
- Resistance:1.3232, 1.3281, 1.3361
The Euro may on the verge of a rebound against the US Dollar after forming a Bullish Engulfing candlestick pattern. A daily close above the 14.6% Fibonacci retracementat 1.3232 exposes the 23.6% level at 1.3281. Alternatively, a reversal below the 76.4% Fib expansion at 1.3151 clears the way for a challenge of the 100% threshold at 1.3064.
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 in play with a stop-loss at breakeven. We will look to any on-coming strength as an opportunity to add to the trade.
Bitcoin is still well supported by the round $500 handle. Earlier in the day, prices tried to break lower but after a short move to $498.06, BTC/USD climbed back above the round figure. One coin is currently selling for $506 on BTC-E. Bitcoin is still trading inside the large congestion marked by a low at […]