Orbex - Forex Trading Library

AUDNZD has seen a significant downtrend since August which has seen prices drop to 1.06. Bears are currently testing the long-term lower descending channel as a previous attempt to move out of the range failed. With a hidden bearish…
Read More

Global Stocks Profit from the Rumor A breakthrough in the search for a coronavirus vaccine led most global indices higher yesterday. The US index rose by 0.68%, whilst the FTSE and the DAX both ended the session higher by almost 5%.…
Read More

The precious metal is down over 4% intraday. The declines come amid a boost to risk on sentiment in the markets. Gold prices reversed gains, just a few ticks shy of the 1967.13 level of resistance. Following this, the precious…
Read More

Oil prices are reacting strongly to the news of the development of the COVID-19 vaccine. Oil prices gained over $3.50 on Monday to settle close to the 40.00 level. A brief intraday test of this level saw prices being rejected.…
Read More

The British pound sterling staged a strong move to the upside. As a result, price action closed above the 1.3122 level for the first time since early September this year. The quick pullback saw the 1.3122 level being tested for…
Read More

The euro posted an impressive rally as price finally hit the 1.1900 level of technical resistance on Monday. However, markets rejected the common currency at this level, pushing it lower. Still, we could expect to see some…
Read More

As a result of the broad rally in equities in response to the outcome of the US presidential elections, shares in US technology company Uber, have exploded higher in recent days. Indeed, the rally in Uber’s stock price has come despite the…
Read More

The current BABA structure shows a bullish impulse wave V of a cycle degree. This consists of primary sub-waves ①-②-③-④-⑤. Primary impulse wave ③ has ended. This was followed by a price decline in the corrective wave ④. We could…
Read More

Last month's ZEW survey showed a drop in optimism among German businesses across the board. The measure was still comfortably in expansion but had come off the 20-year highs of September. During the summer, many leaders had become…
Read More

Last week’s highlights RBA cuts rates to record lows The Reserve Bank of Australia cut interest rates to record lows at its monetary policy meeting last week. The interest rate cut was widely expected as the central bank attempts to…
Read More