Top Global Market Stories
U.S. crude futures edged up on Wednesday, following a more than 7 percent decline over the past three days, as Iran and world powers negotiated beyond a Tuesday deadline, raising uncertainty over a nuclear deal that could add to a global crude glut. Nymex crude for May delivery was up 9 cents at $47.69 a […]
Top Trade Ideas
Many traders will refuse an each way bet. That is, if a trade goes against them, they won’t reverse and go in the new direction. Usually this is a result of at least one painful “whipsawing” as an inexperienced trader. Yet experienced traders know when to break the rules,, and the Mexican peso’s positioning at […]
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: 1.0806, 1.0456, 1.0244
- Resistance:1.1051, 1.1263, 1.1513
The Euro is digesting gains after rallying as expected against the US Dollar following the appearance of a bullish Piercing Line candlestick pattern. A daily close above the march 26 high at 1.1051 exposes the 38.2% Fibonacci retracement at 1.1263. Alternatively, a move below trend line resistance-turned-support at 1.0806 clears the way for a test of the 1.0456-541 area (March 16 low, the 23.6% Fib expansion).
Our long-term outlook calls for broad-based Euro weakness. With that in mind, we will treat any on-coming gains as corrective, looking to enter short at a more attractive level rather than a seeing the move higher as a buying opportunity. In the meantime, we remain flat.
Bitcoin is continuing the yo-yo price action. After yesterday’s gain of $7 dollars today we are down by $4. The cryptocurrency just can’t seem to string together a few days of either gains or losses. We have been trading between the $235 and $250 mark for the past few days. Here’s a chart of today’s […]