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Oil Drops After Weak Chinese Data

Oil prices fell sharply on Tuesday after official data showed China’s manufacturing sector, one of the main engines powering the world’s biggest energy consumer, contracted at its fastest pace in three years. China’s official Purchasing Managers’ Index (PMI) dropped to 49.7 in August from 50.0 in July, reinforcing concerns over the world’s second-largest economy. The […]

    Top Trade Ideas

    Top trade idea for August 31st, 2015 – EUR/USD & GBP/USD

    The USD recovered nicely against the EUR last week, clearly with five waves down which means that we are turning bearish again on EUR. However, firstly we need three wave bounce, before we can look for more weakness. Well, price can already be in a correction, but there is room for 1.131-1.1370 before downtrend may […]

    MT4 Trading & Education

    How To Trade The Parabolic SAR in MT4

    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 […]

    Featured Chart

    Chart Of The Day For September 2nd ,2015 – EUR/USD

    Talking Points:

    • EUR/USD Technical Strategy: Flat
    • Euro Finds Support Below 1.12 Figure, Attempts to Resume Recovery
    • Waiting for Signs of Long-Term Down Trend Resumption to Get Short

    The Euro is attempting to resume the upside correction launched a month ago against the US Dollar having found support above the 1.11 figure. Prices hit seven-month highs last week but failed to maintain momentum above the 1.17 mark. Still, the series of higher highs and lows carved out from the August 5 low remains intact.

    Near-term resistance is now at 1.1368, the 23.6% Fibonacci expansion, with a break above that on a daily closing basis exposing the 38.2% level at 1.1501. Alternatively, a reversal back below the 14.6% Fib at 1.1287 initially clears the way for a test of the August 28 low at 1.1155.

    The long-term EURUSD trend remains bearish. That paints the current upswing as well as the larger advance from lows in mid-March as ultimately corrective. With that in mind, we will remain on the sidelines until positioning produces actionable confirmation of down trend resumption.

    EUR/USD Technical Analysis: Trying to Re-launch Recovery

    bitcoin brokers

    Bitcoin Calms Down, Next Move Awaited

    The bitcoin market has calmed down a bit. In the past 24 hours, we’ve moved within a tight range of 7 dollars and 32 cents. The high is again near the $230 mark at $229.31. The low stands at $221.89, also close to the previous day’s lows near $222. We are currently quoted at $224.10 […]

    Global Market Commentary

    Chart Of The Day For September 2nd ,2015 – EUR/USD

    By Ilya Spivak Talking Points: EUR/USD Technical Strategy: Flat Euro Finds Support Below 1.12 Figure, Attempts to Resume Recovery Waiting for Signs of Long-Term Down Trend Resumption to Get Short The Euro is attempting to resume the upside correction launched a month ago against the US Dollar having found support above the 1.11 figure. Prices […]

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