Top Global Market Stories
U.S. crude futures slipped on Monday in Asian trading as unexpectedly slow Chinese factory growth in July raised demand concerns, while oil markets were also weighed down by OPEC’s record monthly output. U.S. crude fell 29 cents to $46.83 a barrel as of 0005 GMT after settling down $1.40, or almost 3 percent, at $47.12 […]
Top Trade Ideas
Last week GBPCAD arrived at a swing equivalent level where the last swing (“CD”) was the same size as the swing leading into it (“AB”). It’s quite common for trends to end at this point, setting up for a significant correction. The uptrend in GBPCAD had been losing momentum as it approached this swing equivalent […]
MT4 Trading & Education
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: 1.0888, 1.0814, 1.0740
- Resistance:1.0980, 1.1036, 1.1128
The Euro moved lower against the US Dollar as expected after putting in a bearish Evening Star candlestick pattern. Near-term support is at 1.0888, the 38.2% Fibonacci expansion, with a break below that exposing the 1.0814-18 area (50% level, May 27 low). Alternatively, a push above the 23.6% Fib at 1.0980 clears the way for a test of the 14.6% expansion at 1.1036.
Prices are wedged too closely between near-term support and resistance levels to justify taking a trade in line with our long-term outlook from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.
Bitcoin is trading barely changed today. We opened at $278.30 on BTC-E, fell to a low of $275.49, before rallying all the way back to $279.87. Bitcoin closed the session at $279.16, only 86 cents above the open. In the new session we’ve continued to drift lower and BTC is currently quoted at $278.57. On […]