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Top Global Market Stories

US Data Shows Taper is Not Hurting the Economy

By Kathy Lien Of all the big events scheduled for the foreign exchange market this week, the Reserve Bank of New Zealand’s monetary policy announcement is the most exciting.  The RBNZ is widely expected to raise interest rates for the second month in a row after holding rates steady for the past 3 years.  Back […]

Top Trade Ideas

Top Trade Idea For April 23rd, 2014 – EUR/AUD

The results of the April eurozone purchasing managers’ indices were released this morning and on balance have been better than expected. The headline eurozone services sector PMI rose to 53.1 from 52.2 last month while the manufacturing PMI edged up to 53.3 from 53.0 previously. Significantly for the single currency it was Germany, the euro […]

MT4 Trading & Education

How To Interpret Backtesting Results In Metatrader 4

Hi, this is Shaun Overton with ForexNews.com and OneStepRemoved.com. In this 5 minute video, I’m going to show you how to interpret backtesting results in MetaTrader 4. You can follow along using a free OANDA demo account by clicking the link below this video. Register For A Free OANDA Demo Account Video Script:  Before we […]

Featured Chart

Chart Of The Day For April 23rd, 2014 – EUR/USD

By 

  • EUR/USD Technical Strategy: Pending Short
  • Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.)
  • Resistance: 1.3905 (Apr 11 high)

The Euro continues to tread water above near the 1.38 figure against the US Dollar, with back-to-back indecision candles offering mixed direction cues. A daily close below the 38.2% Fibonacci expansion 1.3793 initially exposes the 50% level at 1.3758. The first layer of significant resistance is at 1.3905, the April 11 swing high.

We continue to look for a selling opportunity in line with our long-term fundamental outlook but doing so at current levels is unattractive from a risk/reward perspective as prices hover just above near-term support. As such, we will remain flat until an actionable setup presents itself.

EUR/USD Technical Analysis – Quiet Consolidation Continues

Bitcoin

Bitcoin: BTC/USD Technical Analysis – 22nd April 2014

Bitcoin continues to swim through key support and resistance zones, with this pattern likely to carry on for the short term at least. Let’s take a closer look at the latest BTC/USD four hour chart below (click to expand): I’ve performed today’s Fibonacci study from the low of the month at 343, until the high […]

Global Market Commentary

US Data Shows Taper is Not Hurting the Economy

By Kathy Lien Of all the big events scheduled for the foreign exchange market this week, the Reserve Bank of New Zealand’s monetary policy announcement is the most exciting.  The RBNZ is widely expected to raise interest rates for the second month in a row after holding rates steady for the past 3 years.  Back […]

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