Orbex - Forex Trading Library

The current GBPUSD structure shows a bullish impulse Ⓒ, consisting of intermediate sub-waves (1)-(2)-(3)-(4)-(5). Wave (4) completed as a horizontal contracting A-B-C-D-E triangle. We could expect a rise in wave (5) near the 1.368…
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AUDJPY has seen a bullish ascendency which has propelled the currency pair to multi-month highs. By remaining above the 61.8% area of the 78.45/73.12 downside Fibonacci leg suggests that the bias remains on the upside. Prices are now…
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Dollar Remains Cautious  The US index gave way to some of Monday’s gains as it closed slightly lower yesterday. The dollar continues to look at the US political scenario in the wake of Joe Biden’s victory. Donald Trump is still pressing…
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The precious metal is trading about 1% higher on Tuesday. The gains came after price action fell to the 1850 level briefly. With traders rejecting prices near this level, gold prices made a modest bounce to the upside. Despite the…
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Oil prices pulled back after testing the technical resistance area near 41.00 on Tuesday. However, oil recouped the bullish momentum, and the commodity is now attempting to break past this psychological barrier. A strong breakout…
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The British pound sterling is looking to build upon the gains from Monday. However, as price approaches the 1.3300 handle, the momentum is losing steam. This could see prices pulling back in the near term. Any downside declines will…
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The euro's failure at the 1.1900 level is pushing price action lower. At the time of writing, the common currency is trading near the 1.1800 level. With the trend line and the horizontal support area, price action could be moving into a…
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Iconic US fast-food company McDonald’s reported third-quarter earnings yesterday and comfortably beat Wall Street estimates. The company reported Q3 earnings per share of $2.35, surpassing estimates for a $1.91 EPS. It also reported…
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A lot has happened in New Zealand since the last meeting of their Reserve Bank. A lot more has happened outside the island nation that has implications for the country's monetary policy. Thus, there are many analysts that are expecting…
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The EURUSD structure hints at a bullish impulse consisting of waves ①-②-③-④-⑤. At the time of writing, intermediate wave (1) of the primary 5th wave has completed. In the short term, a decline in zigzag correction (2) near 1.172 is…
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