Top Global Market Stories
Gold for Tuesday, September 23, 2014 Gold has remained quite steady to start this new week around $1215. It is enjoying some consolidation after finishing last week falling strongly from $1240 to just below $1215. After finding some support around $1225 for a few days to start last week which saw it rally back close […]
Top Trade Ideas
This week I am joining the bulls party in the jpy pairs and the analysis above is about the all important jpy pair of them all: the usdjpy. The thing is that what started after breaking that prolonged contracting triangle looks to be the third wave of an impulsive move and, in order for a […]
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: Short at1.3644
- Support: 1.2858, 1.2796, 1.2673
- Resistance:1.2951, 1.2994, 1.3074
The Euro may correct higher against the US Dollar after forming a bullish Piercing Line candle pattern coupled with positive RSI divergence. A daily close above trend line resistance at 1.2951 exposes the September 16 high at 1.2994. Alternatively, reversal below above the 1.2858-71 area marked by the September 9 low and the 14.6% Fibonacci expansion opens the door for a test of the 23.6% level at 1.2796.
We entered short EURUSD at 1.3644 in line with our long-term fundamental outlook and have sincebooked profit on half of the position. The rest remains open to capture any further downside momentumwith a stop-loss at 1.3583, our initial objective.
Bitcoin is trading slightly down today. Prices got as low as $375 on BTC-E yesterday, almost matching the September 19th swing low at $471. From here BTC/USD moved up to again retest the round $400 figure. After the failed test, bitcoin fell back to $388. The downward momentum has somewhat paused, as can be seen […]