Top Global Market Stories
Crude oil prices rose more than 2 percent on Monday, bolstered by a rally in U.S. gasoline and Russia’s willingness to meet other major oil producers to discuss the market. Higher stock prices on Wall Street provided further support to oil and other dollar-denominated commodities. Global crude benchmark Brent rose by $1.35, or 2.7 percent, […]
Top Trade Ideas
A decline from 125.82 is in three waves with first minor three subwaves in A, so we think that pair is in a big downward corrective retracement. Ideally that is a flat with an extended wave C to 116 area where it might already accomplished wave 4) so traders should not be surprised by a […]
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: Flat
- Euro Pausing to Digest Losses After Finding Support Above 1.11 Figure
- Lackluster Follow-Through, Choppy Ranges Make for Inconclusive Setup
The Euro paused to consolidate having declined as expected after prices put in a bearish Dark Cloud Cover candlestick pattern. The pair has struggled with directional conviction since spiking to a seven-month high in late August. Seemingly noteworthy technical breaks have not found follow-through and sliding ATR readings are pointing to ebbing volatility.
Looking ahead, a break below horizontal shelf support at 1.1113 exposes 1.1016, a barrier marked by a rising trend line in play since March and the August 18 low. Alternatively, a move above the September 24 high at 1.1296 clears the way for a challenge of the September 18 swing top at 1.1459.
Positioning is inconclusive at this point. Prices are oscillating in an increasingly choppy range, offering no actionable trade setups to compel us to take a trade. With that in mind, we will remain on the sidelines and wait for greater clarity to emerge before establishing exposure.
Bitcoin is continuing the slow grind higher. Today we closed higher by over $2 dollars, from $236.12 to $238.28. We are currently quoted at $238.25 on BTC-E. The daily chart below shows a very slow but upward sloping trend higher. Today we broke the 10-day high at $237.69. We are now getting close to the […]