Orbex - Forex Trading Library

The common currency continues to embark on a correction as price action failed to hold near the technical support level of 1.1715. The breakdown below this key support level could potentially mark further declines in the medium term.…
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Shares in US pharmaceutical firm Pfizer are trading almost 1% higher pre-market on Wednesday. Pfizer and its German partner BioNTech have been working on a COVID vaccine. They have recently announced that they could be the first to…
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The current USDCNH structure shows an a-b-c zigzag, with waves a and c being 5-wave impulses. Bearish correction b has recently completed as a zigzag consisting of sub-waves Ⓐ-Ⓑ-Ⓒ. Currently, we see the initial part of cycle wave c.…
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GBPAUD has remained on a bearish footing from the yearly highs achieved in March. The recent bearish divergences on the momentum indicator hint at further downside. Currently, the pair is attempting to reach the 1.81 area. Resistance…
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NATURAL GAS (NGAS): Inattesa Svolta Ribassista in 5 Giorni S2: 1,757 S1: 1.796 R1: 1.885 R2: 1.935 Come si scriveva nel report precedente, le quotazioni del Natural Gas hanno testato una importante resistenza stimata in area 2.65 ed…
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Pelosi-Mnuchin Finally Reach Agreement The US index closed 0.44% higher on Tuesday as it rose above 94 for the first time since July. The ascension on the greenback was buoyed as a stopgap bill was passed that would fund the government.…
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The precious metal is making a modest pullback following Monday's declines. After briefly slipping past the 1900 level, gold is back near the 1900 region. We could expect to see some consolidation taking place near this level. If…
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Crude oil prices tested the technical support area of 38.83 on Tuesday. Price action was promptly rejected at this level, leading to a modest bounce to the upside. But questions remain as to whether oil prices can hold the upside.…
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The British pound remains weak as the UK is likely to enter another lockdown. This will limit economic growth and the reaction has been felt in the currency markets. Prices are now trading near the support level of 1.2750. The…
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The euro continues to extend declines amid a resurgent greenback. Price action extended declines from Monday, following the break down near the trend line. This led to the euro currency falling to the support area near 1.1715.…
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