Top Global Market Stories
The U.S dollar starts the final month of the year under pressure across the board as dealers and investors prudently price in market expectations of a gradual tightening cycle by the Fed. Currently, it’s considered a forgone conclusion that the Yellen and company will begin their rate normalization policy on December 16. Now it’s about […]
Top Trade Ideas
A decline from 125.80 to 116.15 was made in three waves, so we think that pullback from the last few months was nothing else than just another correction within ongoing uptrend that is in play already since 2012. In fact, reversal up from 116, at the end of August, was sharp so it belongs to […]
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: Short at 1.1057
- Break of 7-Month Trend Line Support Hints Long-Term Euro Down Trend Resuming
- Short Trade Triggered, Initially Targeting Move Back Below 1.10 Figure vs. US Dollar
The Euro looks to be resuming its long-term down trend against the US Dollar after a break of support marked by a rising trend line set from mid-March. Prices topped and turned lower as expected after putting in a bearish Dark Cloud Cover candlestick pattern.
From here, a daily close below the October 23 low at 1.0996 opens the door for a test of double bottom support marked by the May 27 bottom at 1.0818. Alternatively, a move back above the trend line and horizontal support-turned-resistance at 1.1118 clears the way for a challenge of the 38.2% Fibonacci retracement at 1.1187.
We will now enter short, initially targeting 1.0996. A stop-loss will be activated on a daily close above 1.1118. We will take profit on half of the position and trail the stop-loss to the breakevenlevel once the first objective is reached.
Bitcoin is back to the $350 handle after some severe losses in the past 24 hours. When we last left BTC it was testing that previous consolidation near $380 dollars per coin. The inability to stage a successful breakout above lead to a sell-off to $353 on BTC-E. We saw a second leg of selling […]