Top Global Market Stories
Last week saw global markets fluctuate between corporate earnings and geopolitical conflicts. There was an excess of negative news out of Israel and eastern Ukraine, with each region’s headlines countering much of the decent U.S. and European quarterly earnings reports. On the whole, the reports were relatively good, despite a couple of curve balls thrown […]
Top Trade Ideas
Good day traders! In today’s update we will take a look at USDJPY as this pair can be very interesting for trading in the next couple of days, maybe even weeks. We can see that market is moving sideways for the last six months. A sideways price action is referred as a correction, in our […]
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: Short at 1.3644
- Support: 1.3396, 1.3324, 1.3208
- Resistance:1.3454, 1.3502-12, 1.3583
The Euro declined against the US Dollar as expected after prices put in a bearish Evening Star candlestick pattern. A daily close below support at 1.3396, the 61.8% Fibonacci expansion, clears the way for a decline to the 76.4% level at 1.3324. Alternatively, reversal back above the 50% Fib at 1.3454opens the door for another challenge of the 1.3502-12 area, marked by the 38.2% expansion and the June 5 low.
We entered short EURUSD at 1.3644 in line with our long-term fundamental outlook. We have sincebooked profit on half of the position. The remainder of the trade remains active with a stop-loss at the breakeven level.
The scenario we discussed in our previous daily roundup occurred today as Bitcoin prices broke the small support area at $585. The break happened in the Asian trading session and in less then 3 hours BTC/USD fell almost 20 points to hit a new monthly low of $566. We are currently trading just barely above […]