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Billions of dollars are pouring into oil exchange-traded funds as investors, many of them small savers more familiar with stocks than commodities, risk big losses and focus on the chance of huge rewards. Five of the biggest oil ETFs have seen their assets more than quadruple since July to $5.4 billion as the oil market […]
Top Trade Ideas
Hunting the second wave of a falling wedge pattern and this kind of correction should take the most time in the whole five waves structure and, more importantly, it should break the previous lows. This means we should see a move below the 130 level, where the previous 1st wave ends and it also means […]
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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: Flat
- Support: 1.0970, 1.0796, 1.0623
- Resistance:1.1185, 1.1318, 1.1533
The Euro moved sharply lower against the US Dollar, with prices descending to the lowest level in over 11 years. A daily close below the 38.2% Fibonacci expansionat 1.0970 exposes the 50% level at 1.0796. Alternatively, a reversal above the 23.6% Fib at 1.1185 clears the way for a test of the 1.1276-1318 area (January 30 close, 14.6% Fib expansion).
Entering short in line with our long-term outlook seems compelling from a purely technical perspective but will tactically opt to stay flat. The upcoming US Employment report represents major event risk for USD-based pairs that may derail technical positioning. As such, we will wait for event risk to pass before establishing new exposure.
Bitcoin retraced some of the gains from the rally. During the last 2 hours of yesterday’s trading session, BTC fell from $275 to $261 per coin, eventually closing the day at $264.66. Today we are trading more or less unchanged with BTC/USD quoted at $266.77 on BTC-E. As usual, prices are trading at a slight […]