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Top Global Market Stories

West TX Oil Steady Above $83 after China Demand News

Oil prices closed slightly higher Tuesday after an early rally aided by data showing stronger-than-expected China demand and some technical price recovery after weeks of almost uninterrupted selling. Unflattering global economic data, especially out of Europe, and fears that crude markets were still oversupplied limited gains, analysts and traders said. “Because of their deep slide […]

Top Trade Ideas

Top Trade Idea For October 21st, 2014 – EUR/USD

Good day to everyone! For today’s strategy we will take a look at the EURUSD pair because of very clear direction and the wave structure. As you know the USD is in updated for the past few months now and we do not see any changes so far, so we believe that the best plan […]

MT4 Trading & Education

How To Trade The Parabolic SAR in MT4

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 […]

Featured Chart

Chart Of The Day For October 21th,2014 – EUR/USD

  • EUR/USD Technical Strategy: Flat
  • Support: 1.2750, 1.2619, 1.2500
  • Resistance:1.2852, 1.3070, 1.3246

The Euro recovered against US Dollar as expected after putting in a bullish Piercing Line candlestick pattern. A daily close above the 23.6% Fibonacci retracementat 1.2852 exposes the 38.2% level at 1.3070. Alternatively, a turn back below the October 13 close at 1.2750 opens the door for a test of the October 1 close at 1.2619.

We booked profits on a Euro short position earlier this month and will aim to re-enter the trade in line with our long-term fundamental outlook when the opportunity presents itself. The absence of a defined bearish reversal signal suggests pulling the trigger is premature for now.

EUR/USD Technical Analysis: Digesting Below 1.29 Figure

Bitcoin

bitcoin brokers

Bitcoin Developer Gavin Andresen Holds Reddit AMA

Bitcoin is currently quoted at $380, just $2 dollars weaker compared to yesterday. Prices first rallied to a high of $385 only to fall back to a low of $379 few hours later. Bitcoin is still in the middle of the emerging range between $362 and $388. The 1 Hour chart below that shows that […]

Global Market Commentary

AUDUSD triangle key to medium term outlook

The AUDUSD pair has been showing signs of indecision following the engagement with a major long term support level earlier this month. With a symmetrical triangle currently in play just above that support region, the direction of breakout is likely to provide the direction for the coming weeks. The monthly chart shows that there has […]

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