Top Global Market Stories
Talking Points: Dollar Needs Inflation to Sustain Break from Equities, Yields British Pound Faces Another Wave of Potential Volatility with CPI New Zealand Dollar Drops as Inflation Readings Further Cut Rate Forecast Dollar Needs Inflation to Sustain Break from Equities, Yields The Dollar opened the new trading week with a mixed performance. Between modest gains […]
Top Trade Ideas
Predicting reversals can be risky. Last week, we expected a EUR/CAD reversal near 1.4550. On Friday, EUR/CAD reversed at 1.4546 and is currently heading higher. We expect that move higher to end soon and will discuss a EUR/CAD short trade based on the same approach for predicting the reversal at 1.4546. This half-hourly chart shows […]
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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: Short at 1.3644
- Support: 1.3345, 1.3291, 1.3248
- Resistance:1.3419, 1.3467-72, 1.3516
The Euro may be readying to correct higher against the US Dollar after an Evening Star candlestick pattern marked a reversal downward, as expected. The case for an upside scenario hinges on the appearance of a Hammer candle coupled with positive RSI divergence. A daily close above the 23.6% Fibonacci retracement at 1.3419 exposes the 1.3467-72 area, marked by the 38.2% level and a falling channel top. Alternatively, a turn below the 23.6% Fib expansion at 1.3345 opens the door for a test of the 38.2% threshold at 1.3291.
We sold EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. Any on-coming upswing will be treated as an opportunity to add to the position.
It didn’t take long for bitcoin prices to break the $480 double bottom mentioned in our daily roundup yesterday. The move lower happened around mid-day. Two hours later bitcoin prices flash crashed on BTC-E, spiking down over 130 points in just a few minutes. On their MetaTrader 4 price feed, BTC hit a daily low […]