Orbex - Forex Trading Library

The precious metal gave up over one percent on Thursday. The declines came on the back of a stronger US dollar. The declines are also invalidating the bullish ascending triangle pattern. If price closes strongly below the rising trend…
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The British pound sterling is following suit with its other peers. Following the strong gains on Wednesday, the cable is pulling back on Thursday. The declines put the GBPUSD back below the 1.3122 level of resistance which it managed…
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The euro currency is trading weaker on Thursday as price action reversed the gains from earlier in the week. The reversal came after the EURUSD rose to highs of 1.1880 before giving back the gains. The reversal is also a few pips shy of…
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Shares in US alternative energy firm Tesla are trading over 5% higher on Thursday following another bumping quarterly earnings report from Elon Musk and co. The company has now reported five consecutive quarters of growth which has helped…
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If you ask authorities in China or in Australia, they likely will say that there isn't any trade issue between the two countries. Officially, China continues to have normal trade with Australia. But there have been numerous media reports…
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The USDJPY structure shows a bearish intervening wave Ⓧ that takes the form of a triple zigzag. The zigzag consists of intermediate sub-waves (W)-(X)-(Y)-(X)-(Z). At the time of writing, waves (W), (X), (Y), (X) are fully complete. Wave…
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Since July, EURNZD was trading in a constructive ascending channel until a fall of over 4%, led prices down the mid 1.74 region. Since then, however, the currency pair has found itself once again trading with another ascending channel.…
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Stimulus Relief Looks a Long Way Away The US index witnessed another negative session as it closed 0.43% lower yesterday. This capped a significant fall as it was unable to remain above the 93 handle. As the 2-day stimulus deadline…
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Inventories Fall Again Crude oil prices have fallen lower once again this week despite a mostly bullish report from the Energy Information Administration. The EIA reported that in the week ending October 16th, US crude inventories…
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The precious metal is trading higher on Wednesday. Price action managed to close past the 1911.50 level of resistance. This has, in turn, accelerated the gains toward the 1920 level. These near-term gains put gold prices back near the…
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