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Poor CPI readings provide upside to indices, yet weakens the euro further; CPI and German unemployment change figures put yet further pressure upon Mario Draghi; Consumer confidence figure to dominate US session as volatility is expected to rise this week.. US markets are hoping for a positive start to the day, where weakened Eurozone CPI […]
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In early August, SGD/JPY (the Singapore dollar against the Japanese yen) hit a low near 81. Five weeks later, it began a serious uptrend which saw a rise of more than 500 pips. For the past week or so, it has consolidated within a narrow range. This should provide us an opportunity to join the […]
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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 at1.3644
- Support: 1.2659, 1.2602, 1.2532
- Resistance:1.2760, 1.2813, 1.2900
The Euro marked time to digest losses after four consecutive days of selling against the US Dollar. Near-term support is in the 1.2659-73 area, marked by the November 2012 low and the 38.2% Fibonacci expansion. A break below that on a daily closing basis exposes the 50% level at 1.2602. Alternatively, a move above the 1.2754-60 zone bracketed by the July 2013 bottom and the 23.6% Fib opens the door for a test of the 14.6% Fib at 1.2813.
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 momentumwith a stop-loss at 1.3583, our initial objective.
Bitcoin has finally managed to snap out of its multiday losing streak. Today prices rallied 10 dollars to close at $382. This exact scenario played out 10 days ago in BTC/USD (a six day losing streak followed by a $10 rally). The rally was slow and steady and prices traded as high as $388.95 today. […]