Top Global Market Stories
Brent crude oil prices were poised on Friday for their biggest monthly gain since 2009, lifting the outlook for the battered commodity. U.S. crude oil was set to end February with its first monthly rise in eight months, with signs of a pick-up in Chinese demand and supply outages in the North Sea lifting sentiment […]
Top Trade Ideas
Tuesday’s trend peak in Dollar: CAD confirmed the resistance line of a descending triangle formation. This looks to me like a situation that might provide a trade setup in either direction. The bullish scenario comes out of the Elliot wave playbook. The last major swing higher has the potential to be an impulsive 3rd wave […]
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: 1.1185, 1.0970, 1.0796
- Resistance:1.1318, 1.1533, 1.1659
The Euro is digesting losses after moving sharply lower to threaten the January swing low against the US Dollar. Near-term support is at 1.1185, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 1.0970. Alternatively, a turn above the 1.1276-1318 area (January 30 close, 14.6% Fib expansion) opens the door for a challenge of the February 3 high at 1.1533.
Prices are too close to support to justify entering short in line with our long-term outlookfrom a risk/reward perspective. On the other hand, the absence of a defined bullish reversal signal suggests that taking up thelong side is premature. With that in mind, we will remain flat for now.
Bitcoin is trading down 2 percent today. After opening at $247.55 BTC/USD stayed flat until a sell-off around mid-day took prices to a low of $238. Bitcoin rebounded somewhat from the daily lows and is currently quoted at $242.14 on BTC-E. As usual BTC prices are slightly higher on other exchanges with coins selling for […]