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Cooperation from rebels doing no harm to investor sentiment; EU foreign ministers likely to announce further sanctions; Earnings season key as Apple, Microsoft and Coca Cola report; US inflation reading the highlight of the economic data releases. Given how well US stocks have held up over the last couple of days, it’s difficult to claim […]
Top Trade Ideas
Since mid-March, the euro has lost about 7% of its value against the Canadian dollar. This trend seems likely to continue but has paused around the 1.4441 level. While it seems poised to move higher in a countertrend move possibly towards the 1.50 level, we recognize the price action of the countertrend and see a […]
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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 at 1.3644
- Support: 1.3502-12, 1.3454, 1.3396
- Resistance:1.3583, 1.3613, 1.3650
The Euro fell as expected after prices produced a bearish Evening Star candlestick pattern, sinking to the lowest level in a monthagainst US Dollar. Sellers are testing support in the 1.3502-12 area (38.2% Fibonacci expansion, June 5 low). A daily close below this boundary initially exposes 1.3454 (50% Fib). Alternatively, move back above 1.3583 (23.6% Fib) targets a falling trend line at 1.3613, followed by the July 10 high at 1.3650.
We sold EURUSD at 1.3644 in line with our long-term fundamental outlook and have since booked profit on half of the position. The stop-loss on our remaining exposure has been moved to the breakeven level.
Ben Lawsky, the Superintendent of Financial Services at the New York State Department went on BBC to defend the proposed NY state regulatory framework. Lawsky told reporters that ”virtual currencies hold a lot of promise” and may change banking and finance in the future. He again used the MtGox fiasco as part of the reason […]