Top Global Market Stories
U.S. crude futures fell towards $47.50 a barrel in early Asian trade on Wednesday, as worries about global oversupply outweighed the impact of stronger-than-expected U.S. demand for crude last week and a weaker dollar. U.S. crude for September delivery dropped 25 cents to $47.73 a barrel as of 0003 GMT, after ending the previous session […]
Top Trade Ideas
It’s been a quiet overnight session for most major currencies as market participants refrained from placing large trades ahead of today’s FOMC meeting. As we noted yesterday, the central bank is unlikely to make any outright changes to monetary policy, but the wording of the accompanying statement could tilt the scales in the hotly-contested “September […]
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: 1.1047, 1.0955, 1.0899
- Resistance:1.1121, 1.1195, 1.1287
The Euro corrected modestly lower after an apparent upside breakout marked by a push through falling trend line set from mid-June. A daily close above the 50% Fibonacci retracementat 1.1121 exposes the 61.8% level at 1.1195. Alternatively, a reversal back below the 38.2% Fib at 1.1047 opens the door for a challenge of the 23.6% retracement at 1.0955.
Prices are wedged too closely between near-term support and resistance levels to justify taking a trade in line with our long-term outlook from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.
Bitcoin printed new highs today on most exchanges but progress remains slow. On BTC-E we opened at $286.96 then immediately rallied to a high of $289.97. From here we sold off to $284 dollars per coin but later in the day a new high of $289.99 was set, only to lead to another sell-off with […]