Top Global Market Stories
Talking Points: US Dollar May Extend Advance if ISM Manufacturing Data Tops Forecasts Australian Dollar Ignores RBA Announcement with Fed Policy Bets in Focus See Economic Releases Directly on Your Charts with the DailyFX News App A relatively quiet economic calendar in European trading hours is likely to see traders looking ahead to US news-flow, […]
Top Trade Ideas
For five months, the Australian dollar has been consolidating within a tight range from 0.92 to 0.95. Despite periods of significant US dollar strength, the Aussie held up better than most other G10 currencies. With signs of the end of US dollar strength, the Australian dollar finally has a chance of moving above 0.95. Right […]
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 at1.3644
- Support: 1.3064, 1.3016, 1.2977
- Resistance:1.3151, 1.3204, 1.3248
The Euro continues to push downward against the US Dollar, with prices now targeting support below the 1.31 figure. Near-term support is at1.3064, 100% Fibonacci expansion, with a break below that on a daily closing basis exposinga falling channel floor at 1.3016. Alternatively, a reversal above the 76.4% Fib at 1.3151 clears the way for a challenge of the 61.8% expansion at 1.3204.
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 rest remains open to capture any further downside momentum with a stop-loss at 1.3583, our initial objective.
After a retest of the $480 figure yesterday, BTC/USD continued the move down and hit a daily low of $465.63. But yet again, prices were bid up from the lows and bitcoin is currently quoted at $480. Bitcoin seems unwilling to let go of the $480 handle. Every dip lower is met with demand by […]