Top Global Market Stories
Investors appear to be positioning themselves conservatively ahead of the first reading of second-quarter U.S. gross domestic product data tomorrow. It’s no surprise that there is very little movement in the major currency pairs before such a major economic release. Everyone seems comfortable in keeping his or her powder dry ahead of three days of […]
Top Trade Ideas
Good day traders! In today’s update we will take a look at USDJPY as this pair can be very interesting for trading in the next couple of days, maybe even weeks. We can see that market is moving sideways for the last six months. A sideways price action is referred as a correction, in our […]
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 1.3644
- Support: 1.3396, 1.3324, 1.3208
- Resistance:1.3454, 1.3502-12, 1.3583
The Euro fell as expected against the US Dollar after prices put in a bearish Evening Star candlestick pattern. Sellers are now eyeing support at 1.3396, the 61.8% Fibonacci expansion. A daily close below this boundary initially exposes the 76.4% level at 1.3324. Alternatively, a move back above the 50% Fib at 1.3454 opens the door for a test of the 1.3502-12 area, marked by the 38.2% expansion and the June 5 low.
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 stop-loss on our remaining exposure has been moved to the breakeven level.
Bitcoin staged a reversal of the $562 handle yesterday. After hitting $562.98 on BTC-E, the crypto rallied 19 points to close the day at $581.97. From here, everyone’s favorite cryptocurrency moved somewhat lower to hit $572.50 in today’s trading session. One bitcoin is currently quoted at $581 on BTC-E and at $584 on BitStamp. Going […]