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2020

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Oil drops over 5%, fails to capitalize on production cuts

Orbex Apr 15, 2020 264 0

WTI Crude oil prices are down by over 5% on Tuesday. This comes just a day after Russia and Saudi Arabia agreed to production cuts. The declines indicate that oil traders are brushing aside the production cuts. Price is slipping…
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Technical Analysis

GBPUSD gains after breakout of the upper range

Orbex Apr 15, 2020 228 0

Price action in GBPUSD saw prices pushing slightly higher. This comes following a rather weak upside breakout on Monday. GBPUSD was trading flat in the past few sessions within the 1.2485 and 1.2277 levels. However, with momentum…
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Technical Analysis

EURUSD Failing to Breakout higher

Orbex Apr 15, 2020 238 0

The euro is posting only some modest gains on Tuesday as price rose over 0.50% intraday. Following the breakout off the previous pivot highs near 1.0947, the euro stretched the gains to highs of 1.0971 before pulling back slightly.…
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Technical Analysis

USOIL: 5th Wave Underway Now!

Roman Onegin Apr 14, 2020 435 0

The USOIL structure shows a bearish impulse consisting of waves ①-②-③-④-⑤. The impulse is part of a cycle degree a-b-c correction. The first four parts of the primary degree pattern seem fully completed. At the time of writing,…
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Technical Analysis

Surfing the Waves with Gregor Horvat 2020-04-14

Gregor Horvat Apr 14, 2020 220 0

In today’s advanced Elliott Wave analysis Gregor dives into the five most interesting opportunities for the weak ahead! Watch how he analyses equities, FXMajors and Commodities and discover how he applies EW principles to come up with his…
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Fundamental Analysis

How Likely is the BOC to Hold Rates?

Daniel John Grady Apr 14, 2020 1,443 0

Canada has managed to skirt most of the recent economic crises and continue growing. But not anymore. Despite increasing diversification of their economy, Canada is still significantly dependent on oil production and export. The sudden…
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Technical Analysis

EURJPY – 119.00 Firmness Points to Bottom of Consolidation

Tahir Khan Apr 14, 2020 353 0

The EURJPY daily chart above shows a bounce at the 116.34 low. As indicated, its bullish momentum has stalled at the 119.00 handle, where prices drifted lower for a potential retracement. The depth of the pullback depends on how firm the…
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Technical Analysis

XAUUSD continues to maintain bullish gains

Orbex Apr 14, 2020 325 0

Although price action in gold remains somewhat subdued, the upside momentum is intact. Prices are now trading close to the previous highs near the 1700 – 1699 level. If there is a scope for a retracement, then the recent breakout…
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Technical Analysis

Oil prices muted to OPEC production cut

Orbex Apr 14, 2020 328 0

Crude oil prices did not react much to the news that Saudi Arabia and Russia agreed to cut oil production by over 9 million barrels. Price action slipped back, falling to the lower end of the range close to the 22.00 handle. Given…
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Technical Analysis

GBPUSD holds steady near upper end of range

Orbex Apr 14, 2020 303 0

GBPUSD continues to tread higher at a steady pace. Price action is trading above the 1.2500 level. However, the intensity of the breakout could keep the downside risks. There is scope for prices to slip back to the lower end of the…
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