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Top Global Market Stories

OPEC Looking to Cut Daily Oil Output

OPEC needs to reduce crude output by at least 500,000 barrels a day, Libya’s governor to the group said, the first time since prices plunged into a bear market that a representative from a member nation has suggested how much production should be cut. Oil markets are oversupplied by about 1 million barrels a day, […]

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 22nd,2014 – EUR/USD

  • EUR/USD Technical Strategy: Flat
  • Support: 1.2668, 1.2534, 1.2316
  • Resistance:1.2852, 1.2931, 1.3070

The Euro is in a precarious position after bouncing as expected against the US Dollar having formed a bullish Piercing Line candlestick pattern. Prices are testing support in the 1.2668-1.2712 area (channel bottom, 14.6% Fibonacci expansion), with a daily close below that exposing the 1.2500-34 zone (October 3 low, 23.6% level). Alternatively, a reversal above the 23.6% Fib retracement at 1.2852 opens the door for a test of the channel top at 1.2931.

We are aiming to re-enter short in line with our long-term fundamental outlook. Confirmation of bearish trend resumption is absent for now however and risk/reward parameters are skewed against entering a trade as prices sit squarely at support. With that in mind, we will remain flat for now.

EUR/USD Technical Analysis: All Eyes on Support Sub-1.27

Bitcoin

bitcoin brokers

Bitcoin Developer Gavin Andresen Holds Reddit AMA

Bitcoin is currently quoted at $380, just $2 dollars weaker compared to yesterday. Prices first rallied to a high of $385 only to fall back to a low of $379 few hours later. Bitcoin is still in the middle of the emerging range between $362 and $388. The 1 Hour chart below that shows that […]

Global Market Commentary

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 […]

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