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Gold for Thursday, August 21, 2014 Over the last few days Gold has been easing lower back towards the medium term support level at $1290 which is where it presently finds itself resting. A couple of weeks ago Gold had been meeting resistance around $1313 which has seen it finally ease lower to end last […]
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USDJPY: navigating central bank risk The Jackson Hole conference of central bankers may not be everyone’s idea of a barrel of laughs, but it can be big news for your portfolio. In the past, central bankers have used these speeches to announce changes in monetary policy; this is where Ben Bernanke first announced the prospect […]
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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: Short at 1.3644
- Support: 1.3345, 1.3291, 1.3248
- Resistance:1.3345, 1.3432, 1.3461
The Euro resumed its push downward against the US Dollar after completing a Triangle continuation chart formation. Near-term support is at 1.3291, the 38.2% Fibonacci expansion, with a break below that on a daily closing basis exposing the 50% level at 1.3248. Alternatively, a turn above the 23.6% Fib at 1.3345 opens the door for a test of the August 8 high at 1.3432.
We entered short EURUSD at 1.3644 in line with our long-term fundamental outlook and have sincebooked profit on half of the position. The rest remains open to capture any further downside momentum with a stop-loss adjusted to the breakeven level.
Bitcoin is trading more stable today after a volatile Monday that saw prices flash crash over 130 dollars on BTC-E. Bitcoin traded as high as $487 yesterday, fueled by the rebound started after the crash. With the recent clearing of orders on both BTC-E and Bitfinex, the market should remain somewhat supported in the near […]