Top Global Market Stories
EURUSD The euro is looking a little more bullish against the dollar again, but the lack of momentum is a concern. Not only did the pair fail to make a new higher during the previous rally before correcting, the bounce off the 50 fib level wasn’t very convincing. Clearly 1.40, not far above the current […]
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Time will tell if this analysis will turn to bear fruits as it implies the current gap in the eurusd is not going to be filled anytime soon. The reason for calling such a thing is the fact that the whole pattern there, in the green labeling, is supposed to be a flat and the […]
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Hi, this is Shaun Overton with ForexNews.com and OneStepRemoved.com. In this 5 minute video, I’m going to show you how to interpret backtesting results in MetaTrader 4. You can follow along using a free OANDA demo account by clicking the link below this video. Register For A Free OANDA Demo Account Video Script: Before we […]
By Ilya Spivak,
- EUR/USD Technical Strategy: Pending Short
- Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.)
- Resistance: 1.3905 (Apr 11 high)
The Euro continues to tread water above near the 1.38 figure against the US Dollar, with back-to-back indecision candles offering mixed direction cues. A daily close below the 38.2% Fibonacci expansion 1.3793 initially exposes the 50% level at 1.3758. The first layer of significant resistance is at 1.3905, the April 11 swing high.
We continue to look for a selling opportunity in line with our long-term fundamental outlook but doing so at current levels is unattractive from a risk/reward perspective as prices hover just above near-term support. As such, we will remain flat until an actionable setup presents itself.
Bitcoin carries on from where it left off yesterday, with certain support and resistance zones continuing to act as barriers for price. Let’s take a closer look at the latest BTC/USD Daily chart below: I’ve performed the Fibonacci study from the low of the month at 343, until the high of the […]