Top Global Market Stories
Oil stabilized on Wednesday after China’s central bank moved to support the country’s economy, but prices stayed near 6-1/2-year lows as a heavy supply glut kept the market outlook bearish. “Oil is catching its breath a bit and seeing if markets have been oversold or not,” Capital Economics commodities economist Thomas Pugh said. Brent LCOc1 […]
Top Trade Ideas
This is the audnzd cross and it formed a beautiful impulsive move or five wave structure to the upside followed by a correction. The recent spike higher that took the 1.14 level when stocks in the United States dropped last Monday basically makes the case for a flat pattern as a b wave in pink […]
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 […]
The Euro has advanced to the highest level in over seven months against the US Dollar, with prices claiming a foothold above the 1.16 figure. The speed of the advance has been at least as remarkable as the levels being revisited, marking the fastest upside push since at least 2009. Taking up the long side seems ill-advised however.
The Euro has been trending lower since mid-2008. Needless to say, markets don’t move straight lines and some counter-trend corrections have occurred in the interim. Prior large-scale upswings have averaged more than 20 percent, making the current upswing of just over 12 percent appear relatively small. This means that despite swift upside momentum in the near term, markets are far from disturbing the longer-run trajectory. With that in mind, we will patiently wait on the sidelines for a new selling opportunity present itself.
After yesterday’s strong reversal, bitcoin today closed higher by $5 dollars on BTC-E and $3 dollars on OKCoin. On OKCoin we opened at $222.51, fell to a low of $218.32 before rallying all the way to $230 dollars per coin. But by the end of the session most of those gains evaporated and BTC/USD closed […]