Top Global Market Stories
Ample global supply and increasing U.S. commercial inventories weighed on U.S. crude prices on Thursday after expectations for better demand going forward lifted prices a day earlier, traders and analysts said. U.S. crude settled 5.5 percent lower, or $2.82, at $48.17 a barrel, following a more than 3 percent gain in the previous session. Brent […]
Top Trade Ideas
Tuesday’s trend peak in Dollar: CAD confirmed the resistance line of a descending triangle formation. This looks to me like a situation that might provide a trade setup in either direction. The bullish scenario comes out of the Elliot wave playbook. The last major swing higher has the potential to be an impulsive 3rd wave […]
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: 1.1185, 1.0970, 1.0796
- Resistance:1.1318, 1.1533, 1.1659
The Euro moved sharply lower against the US Dollar, with prices attempting to clear path to the late-January low anew. Near-term support is at 1.1185, the 23.6% Fibonacci expansion, with a break below that on a daily closing basis exposing the 38.2% level at 1.0970. Alternatively, a turn above the 1.1276-1318 area (January 30 close, 14.6% Fib expansion) clears the way for a test of the February 3 high at 1.1533.
Risk/reward considerations argue against entering shortin line with our long-term outlook as prices sit squarely at support. We will remain on the sidelines for the time being, waiting for a more actionable opportunity to present itself.
Bitcoin continues to trade flat for a 4th day in a row. Prices are again flip-flopping around $230 per coin. Today’s high stands at $232.14 and the low at $228.12. The daily range was only $4.04 dollars and the 20 day average has fallen further to $11.51. With the general lack of market moving news […]