Orbex - Forex Trading Library

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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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…
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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%.…
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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…
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