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Top Global Market Stories

Oil Lower Due to China Demand Fears and Supply Glut

Oil fell below $49 a barrel on Monday after its biggest two-day rally in six years last week, pressured by a supply glut and renewed concern about a hard landing for China’s economy. International benchmark Brent crude climbed 10 percent last week but was still heading for its fourth straight monthly decline and has risen […]

    Top Trade Ideas

    Top trade idea for August 31st, 2015 – EUR/USD & GBP/USD

    The USD recovered nicely against the EUR last week, clearly with five waves down which means that we are turning bearish again on EUR. However, firstly we need three wave bounce, before we can look for more weakness. Well, price can already be in a correction, but there is room for 1.131-1.1370 before downtrend may […]

    MT4 Trading & Education

    How To Trade The Parabolic SAR in MT4

    Hi, this is Shaun Overton with and 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 […]

    Featured Chart

    Chart Of The Day For August 31st ,2015 – EUR/USD

    Talking Points:

    • EUR/USD Technical Strategy: Flat
    • Euro Drops for Third Day, Aims at Push Below 1.12 Figure
    • Risk/reward Parameters Argue Against Taking Short Trade

    The Euro declined for a third consecutive day against the US Dollar, with prices now aiming at support below the 1.12 figure. A daily close below the 61.8% Fibonacci retracement at 1.1153 exposes the next downside barrier at 1.1021, the 76.4% level. Alternatively, a move back above the 50% Fib at 1.1260 targets the 38.2% retracement at 1.1367.

    Our long-term bias on the Euro favors weakness. Indeed, the dominant trend has favored the downside since mid-2008. The currently available trading range – the distance between immediate support and resistance – is only 107 pips however. That is smaller than 20-day ATR (143 pips for the last closed candle), which skews risk/reward parameters away from entering a short trade. In short, even a short trade taken directly at resistance would be aiming for a profit target smaller than a “normal” worst-case scenario of a full-ATR move against the position. As such, we will opt to stand aside for now and wait for a more compelling opportunity to present itself.

    EUR/USD Technical Analysis: Aiming Below 1.12 Figure

    bitcoin brokers

    Bitcoin Donations at Barclays as Prices Stay Flat

    Bitcoin is trading mostly flat today. We opened at $224.84 on BTC-E, then rallied to a high of $228.12. But the gains didn’t last and soon BTC/USD was trading back down to the opening price. Bitcoin eventually closed the session at $224.11, just 73 cents weaker on the day. As can be seen on the […]

    Global Market Commentary

    Morning Brief

    Even with thin month conditions and a UK holiday today, a very busy week awaits us with rate decisions from the RBA and the ECB, GDP data from Canada and Australia, ending with payroll numbers in the U.S and Canada. Concerns over global growth, the plunge in commodity prices, China’s violent equity markets and its […]

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