Top Global Market Stories
Brent crude oil rose above $86 a barrel on Friday, bouncing from near four-year lows as investors bought back into a market they said was oversold, and as fighting in Iraq increased political risk. Oil has lost more than a fifth of its value since June on heavy oversupply, signs of weak demand growth and […]
Top Trade Ideas
Lower oil prices are bad news for Norway but good news for the Eurozone. This makes EURNOK sensitive to oil prices which have every chance of remaining volatile for a while yet. With that in mind this triangle formation might be useful for traders. A run up to and rejection of the triangle resistance could […]
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
- Support: 1.2750, 1.2619, 1.2500
- Resistance:1.2852, 1.3070, 1.3246
The Euro moved higher against the US Dollar as expected after prices produced a bullish Piercing Line candlestick pattern. Near-term resistance is at 1.2852, the 23.6% Fibonacci retracement, with a break above that on a daily closing basis exposing the 38.2% level at 1.3070. Alternatively, a reversal 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 are now look for a new selling opportunity in line with our long-term fundamental outlook. As it stands, the absence of a defined bearish reversal signal suggests entering at present is premature.
Bitcoin is trading down $5 dollars in a slow weekend session. The daily range has shrunk from yesterday’s 14 to a mere 9 points today. But the lower volatility is not solely due to the weekend. The 20 Day Daily Range has fallen from $32 dollars on October 7th to $25 dollars today. After a […]