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Top Global Market Stories

OPEC Oil Output Hits 3 Year High in June

OPEC oil supply in June has climbed to a three-year high due to record or near-record output from Iraq and Saudi Arabia, a Reuters survey found, underlining the focus of the group’s top exporters on market share. The boost from the Organization of the Petroleum Exporting Countries puts output further above its target of 30 […]

Top Trade Ideas

Top Trade Idea For June 30th, 2015 – USD/CAD

USDCAD made a deep retracement in the last two months but with corrective personality from the highs, down into 38.2% Fibonacci level where pair found a low, possibly completed fourth wave. That said, despite a strong bearish turn, we see big trend still bullish, so we would not be surprised if pair will continue higher […]

MT4 Trading & Education

How To Trade The Parabolic SAR in MT4

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 […]

Featured Chart

Chart Of The Day For July 1st ,2015 – EUR/USD

Talking Points:

  • EUR/USD Technical Strategy: Flat
  • Support: 1.1127, 1.1054, 1.0964
  • Resistance:1.1199, 1.1290, 1.1345

The Euro returned to levels prevailing before the sharp gap and subsequent upswing at the open of the trading week. A daily close below the 50% Fibonacci retracementat 1.1127 exposes the 61.8% level at 1.1035. Alternatively, a turn above the 38.2% Fib at 1.1199 opens the door for a challenge of the 23.6% retracement at 1.1290.

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade long-term Euro outlook from a risk/reward perspective. With that in mind, we will remain flat for now and wait for an actionable opportunity to present itself.

EUR/USD Technical Analysis: Euro Settles in Familiar Area

Bitcoin

bitcoin brokers

Bitcoin Bounces at $270 Dollars Resistance

Another green day for bitcoin. After opening at $254.20, the cryptocurrency broke the previous June high at $256.75 and proceeded to rally a further $12 dollars to a new high at $269.30. This is very close to the $270 figure, a level we noted in our article yesterday as a potential resistance level. Thus it […]

Global Market Commentary

Chart Of The Day For July 1st ,2015 – EUR/USD

By Ilya Spivak, Talking Points: EUR/USD Technical Strategy: Flat Support: 1.1127, 1.1054, 1.0964 Resistance:1.1199, 1.1290, 1.1345 The Euro returned to levels prevailing before the sharp gap and subsequent upswing at the open of the trading week. A daily close below the 50% Fibonacci retracementat 1.1127 exposes the 61.8% level at 1.1035. Alternatively, a turn above […]

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