Top Global Market Stories
By Boris Schlossberg , Market Drivers April 17, 2014 Tankan up big in March despite sales tax pressure German PPI continues to deflate Nikkei 0.0% Europe -.22% Oil $103/bbl Gold $1298/oz. Europe and Asia: JPY Tankan 25 vs. 18 AUD NAB Business confidence 6 vs. 8 EUR GE PPI -0.3% vs 0.0% North America: USD Jobless […]
Top Trade Ideas
Time to take a look at the usdjpy pair as this resilience to break lower is leading us to a single possible scenario: running variation of a contracting triangle on the daily chart. This scenario is going to be invalidated only by a move below 100.75 level so this should be the stop loss for […]
MT4 Trading & Education
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 is stalling at chart support just below the 1.38 figure against the US Dollar having found resistance near the 1.39 mark. A break below support at 1.3793 marked by the 38.2% Fibonacci expansion on a daily closing basis initially exposes the 50% level at 1.3758. The first layer of significant resistance is at 1.3905, the April 11 swing high.
Our long-term fundamental outlook continues to argue for Euro weakness. Prices are too close to near-term support to justify a short position at current levels from a risk/reward perspective. With that in mind, we will remain on the sidelines until a more attractive opportunity presents itself.
Bitcoin rises as high as 545 this morning, but has retreated to around 500. Let’s take a closer look at the current BTC/USD H4 chart below (click to expand): I’ve performed the Fibonacci study from the low of the month at 382, until the high of the month at 545. […]