Forex Trading Blog and Market Insights

A Course Correction for Leading German Indicators (PMI, Ifo)?

Daniel John Grady Nov 23, 2020 334 0

Lockdowns in Germany have been reimposed following the rise in cases throughout the last month and a half. This is expected to sap investor and business confidence. The question for the markets is: by how much? And what does that…
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Technical Analysis

AUDUSD Cycle Correction Completion

Roman Onegin Nov 23, 2020 976 0

The current AUDUSD structure indicates a cycle corrective wave b of a triple zigzag. The specified zigzag consists of sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The final wave Ⓩ takes the form of an intermediate degree (A)-(B)-(C) zigzag. Intermediate impulse…
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Italiano

Prova Di Tenuta Per Il Dollaro USA Contro Tutte Le Valute

Fabio Michettoni Nov 23, 2020 455 0

USDJPY(USDJPY): Dollaro Al Test Su Importanti Supporti S2: 102.71 S1: 103.28 R1: 104.77 R2: 105.69 Il dollaro è visto in calo in apertura di settimana, in risposta all’imponente “squeeze” innescato dalla notizia sul…
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Technical Analysis

The Week Ahead: Where’s the Money?

Jing Ren Nov 23, 2020 348 0

EURCAD Retreats as Budget Hits Roadblock The euro came under pressure after the EU’s budget ran into a stalemate. Its approval which includes the 750 billion euro Recovery Fund has turned political after Hungary and Poland rejected…
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Fundamental Analysis

Weekly Fundamental Bulletin: US Revised GDP & Eurozone Flash Estimates

Orbex Nov 23, 2020 882 0

Last week’s highlights Japan GDP rises 21.4% in Q3 There was some good news from Japan with the latest economic data showing a rebound in economic activity. Official data for the third quarter showed that the nation's GDP rose by 21.4%…
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Technical Analysis

S&P500 Pulls Back from New All-Time Highs

Orbex Nov 23, 2020 319 0

The S&P500 index recovered strongly in a bid to test the previous all-time highs at 3674.80. However, the index managed to close briefly above the key resistance level of 3588.8. That said, the index closed below this level toward…
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Technical Analysis

Gold Prices Look Increasingly Weaker

Orbex Nov 23, 2020 257 0

The precious metal made some modest gains on Friday, but the upside momentum is starting to look weaker. Following the recent rise to the 1950 handle, the failure to breakout has led to weaker price action. While the 1850 level of…
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Technical Analysis

GBPUSD Pares Losses as Price Consolidates Below 1.3300

Orbex Nov 23, 2020 195 0

The British pound sterling pared losses on Friday to pull back above the rising trend line. Price action is now in a tight range with the 1.3300 technical resistance and the trend line. This could result in a possible breakout in the…
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Technical Analysis

WTI Crude Oil Holds Steady Above 41

Orbex Nov 23, 2020 258 0

Oil prices offset the losses from Thursday, posting strong gains on Friday. After consolidating near the 41.00 level of support, the commodity is once again testing the previous highs. The key challenge for crude oil will be the 42.68…
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Technical Analysis

Watch for a Possible Reversal in EURUSD

Orbex Nov 23, 2020 291 0

The euro currency remains in an overall consolidation. However, price action is supported by the rising trend line which has held up on previous occasions. For the moment, a reversal off the trend line could potentially mark a small…
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