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Top Global Market Stories

Bitcoin: Tokyo Court Starts MtGox Bankruptcy Proceedings

Nobuaki Kobayashi, the lawyer in charge of failed bitcoin exchange MtGox, announced today that the Tokyo District Court issued an order for the commencement of bankruptcy proceedings. At the same time, the court appointed him as the bankruptcy trustee. ‘’The power and authority to administer and dispose of the assets of the Company is vested […]

Top Trade Ideas

Top Trade Idea For April 24th, 2014 – EURUSD

Time will tell if this analysis will turn to bear fruits as it implies the current gap in the eurusd is not going to be filled anytime soon. The reason for calling such a thing is the fact that the whole pattern there, in the green labeling, is supposed to be a flat and the […]

MT4 Trading & Education

How To Interpret Backtesting Results In Metatrader 4

Hi, this is Shaun Overton with ForexNews.com and OneStepRemoved.com. In this 5 minute video, I’m going to show you how to interpret backtesting results in MetaTrader 4. You can follow along using a free OANDA demo account by clicking the link below this video. Register For A Free OANDA Demo Account Video Script:  Before we […]

Featured Chart

Chart Of The Day For April 24th, 2014 – EUR/USD

By ,

  • EUR/USD Technical Strategy: Pending Short
  • Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.)
  • Resistance: 1.3905 (Apr 11 high)

The Euro remains in consolidation mode against the US Dollar, with prices waiting for a clear-cut directional catalyst near the 1.38 figure. A daily close below the 38.2% Fibonacci expansion 1.3793 initially exposes the 50% level at 1.3758. The first layer of significant resistance is at 1.3905, the April 11 high.

Our long-term fundamental outlook calls for a weaker Euro but taking a short here is unattractive from a risk/reward perspective given the pair’s proximity to near-term support. As such, we will remain on the sidelines for the time being and wait for a more actionable selling opportunity to presents itself.

EUR/USD Technical Analysis – Directional Conviction Absent

Bitcoin

Bitcoin: Tokyo Court Starts MtGox Bankruptcy Proceedings

Nobuaki Kobayashi, the lawyer in charge of failed bitcoin exchange MtGox, announced today that the Tokyo District Court issued an order for the commencement of bankruptcy proceedings. At the same time, the court appointed him as the bankruptcy trustee. ‘’The power and authority to administer and dispose of the assets of the Company is vested […]

Global Market Commentary

Chart Of The Day For April 24th, 2014 – EUR/USD

By Ilya Spivak, EUR/USD Technical Strategy: Pending Short Support: 1.3835 (23.6% Fib exp.), 1.3793 (38.2% Fib exp.) Resistance: 1.3905 (Apr 11 high) The Euro remains in consolidation mode against the US Dollar, with prices waiting for a clear-cut directional catalyst near the 1.38 figure. A daily close below the 38.2% Fibonacci expansion 1.3793 initially exposes the 50% level at 1.3758. The […]

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