Forex Trading Blog and Market Insights

Gold Slips To A Two-Week Low

Orbex Aug 12, 2020 603 0

The precious metal is posting its first proper correction in nearly three months. Gold is down over 3.5% intraday after it broke out from the rising price channel. The support area near the 1967 handle has also given way. The current…
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Technical Analysis

Will Oil Prices Push Higher?

Orbex Aug 12, 2020 401 0

WTI crude oil managed to break out of the 42.00 ceiling on late Monday. However, following a brief rally above the 42.00 level, the commodity is seen pulling back. We expect the 42.00 price level to be tested once again. There is also a…
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Technical Analysis

GBPUSD Retesting The Resistance Level

Orbex Aug 12, 2020 296 0

The British pound sterling managed to make some very modest gains on Tuesday. Price action was steadily rising only for the gains to be capped near the 1.3122 level once again. This could potentially see the pound sterling pushing back…
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Technical Analysis

EURUSD Consolidating Near Trend Line And Support

Orbex Aug 12, 2020 302 0

The euro currency is holding somewhat steady after the support area near the 1.1750 handle looks to be strong for the moment. The trend line is, however, holding up as resistance level. The decline to this region suggests strong support…
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Stocks

Hilton Shares Shrug Off Weak Earnings Report

Orbex Aug 11, 2020 277 0

Big Earnings Miss in Q2 Shares in US hotelier Hilton Worldwide are trading higher by 3% pre-market on Tuesday as the group extends its recent rally. This is despite a disappointing earnings report last week. Hilton posted Q2 earnings per…
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Technical Analysis

SPX500 Bearish 5-Wave Impulse In Sight?

Roman Onegin Aug 11, 2020 1,262 0

The current SPX500 formation hints to a flat pattern consisting of waves Ⓐ-Ⓑ-Ⓒ of the primary degree. At the time of writing, impulse wave Ⓐ is complete. Corrective wave Ⓑ is taking the form of a double zigzag (W)-(X)-(Y). It is expected…
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Fundamental Analysis

What You Need to Know: NZ & Mexico Rate Decisions

Daniel John Grady Aug 11, 2020 495 0

New Zealand to Hold Fast With the COVID outbreak largely controlled domestically, New Zealand is basically holding the line while the rest of the world gets the virus under control. This poses a problem, as an important part of the…
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Technical Analysis

Has Gold Run Out Of Steam?

David Kindley Aug 11, 2020 970 0

Gold soared to record highs on the 7th of August. However, recent risk sentiment has evidently shifted. The current Tenkan line is acting as a resistance pulling the price to trade closer to the Kijun line, indicating a downward…
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Fundamental Analysis

Risk ON as Sentiment Shifts

David Kindley Aug 11, 2020 447 0

US Dollar Finds Momentum The US index closed above 93 for the second consecutive day on Monday. This comes after President Trump is looking to bypass congress in the hopes of extending the unemployment benefit relief package. Initial…
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Technical Analysis

Gold Retreats From All-Time Highs

Orbex Aug 11, 2020 440 0

The precious metal is trading soft on Monday right after prices touched a new all-time high last Friday. The pace of declines is, however, limited. This means that the upside is still likely to prevail. On the 4-hour chart, we see…
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