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Oil prices dropped on Friday as a rising U.S. rig count stoked fears of oversupply and after Chinese regulators opened an investigation into suspected stock market manipulation. Front-month U.S. crude futures were trading at $56.72 per barrel at 0212 GMT, down 21 cents from their last settlement. That means that U.S. crude has fallen from […]
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It’s been a lousy week for milk prices but arguably and even worse one for iron ore. This together with today’s soft Aussie retail sales figure has seen $A lose ground against the Kiwi from what looks as though it could be a significant turning point. Weekly Chart A longer term look at AUDNZD 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: Flat
- Support: 1.0968, 1.0818, 1.0661
- Resistance:1.1051, 1.1277, 1.1466
The Euro gapped below trend line support set from mid-April against the US Dollar but breakout confirmation is pending for now. Near-term support is in the 1.0968-1.10 area (horizontal pivot, 23.6% Fibonacci expansion), with a break below that on a daily closing basis exposing the May 27 low at 1.0818. Alternatively, move back above the trend line, now at 1.1051, opens the door for a challenge of the June 29 high at 1.1277.
The available trading range is too narrow to justify entering a trade in line with our long-term Euro outlookfrom a risk/reward perspective. With that in mind, we will remain flat for now, waiting for price action to offer a more compelling opportunity down the road.
Bitcoin is retesting the $270 dollars resistance. On June 30th BTC/USD nearly hit this mark by trading as high as $269.30. The resulting bounce lower turned into a significant 7 percent retracement. But yesterday the losses ended as BTC hit important support at $250 dollars. Today we saw a resumption of the trend higher, with […]