Top Global Market Stories
Market selloff continues as markets look towards key week; Spanish CPI leads thoughts to tomorrows headline CPI reading; US pending home sales figure released later today. US markets look set to run into further downside today following a disappointing start to the week in Asia and Europe. With the busiest week of the month ahead […]
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In early August, SGD/JPY (the Singapore dollar against the Japanese yen) hit a low near 81. Five weeks later, it began a serious uptrend which saw a rise of more than 500 pips. For the past week or so, it has consolidated within a narrow range. This should provide us an opportunity to join the […]
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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: 1.2659, 1.2602, 1.2532
- Resistance:1.2760, 1.2813, 1.2900
The Euro continues to face heavy selling pressure, with prices now approaching the weakest levels in close to two years against the US Dollar. A daily close below the 1.2659-73 area marked by the November 2012 low and the 38.2% Fibonacci expansion exposes the 50% level at 1.2602. Alternatively, reversal above the 1.2754-60 zone bracketed by the July 2013 bottom and the 23.6% Fib opens the door for a test of the 14.6% Fib at 1.2813.
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 now on a six day losing streak. The highly volatile trading session started with prices at $374. From here, BTC/USD fell to a new multi-day low of $361 only to rally 24 dollars to a high of $385 just six hours later. For a while it looked like the cryptocurrency may end its […]