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Oil prices weakened heading into U.S. crude’s settlement Thursday after a larger-than-expected drawdown in U.S. crude stockpiles was balanced by a stronger dollar and position squaring ahead of the expiry of the front-month contracts in gasoline and diesel. U.S. crude settled down 27 cents, or 0.55 percent, at $48.52 a barrel. Benchmark Brent crude oil […]
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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 […]
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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 […]
By Ilya Spivak,
- EUR/USD Technical Strategy: Flat
- Support: 1.0888, 1.0814, 1.0740
- Resistance:1.0980, 1.1036, 1.1128
The Euro extended downward against the US Dollar as expected after prices produced a bearish Evening Star candlestick pattern. A daily close below the 38.2% Fibonacci expansionat 1.0888 exposes the 1.0814-18 area (50% level, May 27 low). Alternatively, a move above the 23.6% Fib at 1.0980 opens the door for a challenge of the 14.6% expansion at 1.1036.
Prices are too close to support to justify entering short in line with our long-term outlookfrom a risk/rewardperspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.
After yesterday’s 2 percent loss today we’re down again, albeit slightly. On BTC-E we opened at $284.93, rallied briefly to $285.97, before falling back down. Near the end of the session we hit a low of $281.56. In the first four hours of the new session BTC dipped to a new 4-day low at $281.20. […]