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Canadian growth quickens BoC to be pleased, but not impressed Poloz to remain with neutral stance next week Friday’s data revealed that the Canadian economy accelerated at the fastest pace in nearly three-years in Q2. The usual culprits supported the annualized +3.1% gain between April and June: exports, consumer spending and business investments (an area […]
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Despite the wishes of RBA Governor Glenn Stevens, the AUD continues to defy gravity. Lower commodity prices should see lower terms of trade, and a lower Aussie, yet the currency continues to frustrate short sellers. Eventually, USD strength as stimulus is withdrawn should see a lower AUD/USD. But the AUD/JPY chart is telling a different […]
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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: 1.3064, 1.3016, 1.2977
- Resistance:1.3151, 1.3204, 1.3248
The Euro continues to push downward against the US Dollar, with prices now targeting support below the 1.31 figure. Near-term support is at1.3064, 100% Fibonacci expansion, with a break below that on a daily closing basis exposinga falling channel floor at 1.3016. Alternatively, a reversal above the 76.4% Fib at 1.3151 clears the way for a challenge of the 61.8% expansion at 1.3204.
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 broke below $480 yesterday. The breakdown lead to quick losses toward $472 and today, the losses continued as bitcoin hit a new multi-day low of $469.47. From here, the crypto managed to regain some ground and is currently trading at $481 per coin on BTC-E. The retest of $480 in the next few hours […]