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West Texas Intermediate surged from its lowest closing price in more than two years as Saudi Arabia trimmed crude oil supply in September. Futures gained as much as 1.7 percent in New York, recording the biggest increase since Oct. 17 and erasing an earlier fall of 0.6 percent. The biggest producer in the Organization of […]
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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 […]
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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: Pending Short at 1.2710
- Support: 1.2500, 1.2316, 1.2140
- Resistance:1.2749, 1.2852, 1.3070
The Euro looks to be resuming the down trend against the US Dollar after correcting upward from the 1.25 figure. Near-term support is in the 1.2500-34 area, marked by the October 3 low and the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 1.2316. Alternatively, a reversal above channel support-turned-resistance at 1.2749 opens the door for a test of the 23.6% Fib retracement at 1.2852.
Risk/reward conditions are skewed against entering short at present and we will set a pending order to sell the pair in line with our long-term fundamental outlook at 1.2710. If triggered, the position will initially target 1.2534 with a stop-loss activated on a daily close above 1.2886.
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. […]