Orbex - Forex Trading Library

The consolidation in the oil markets continue. Price action is testing the lower end of the range at 41.00. This marks the second test of this level which has held up so far. To the upside, the range high near 42.00 remains strong to…
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The British pound sterling continues with this bullish streak. Price action is now close to the 1.3000 handle which could potentially open the way to 1.3122 next. To the downside, support is found at 1.2813 which could stall the currency…
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The common currency is trading a tad weaker but not before prices attempted to breakout above the 1.1750 level. Price action closed with a strong bearish engulfing near this level suggesting that resistance is likely forming here. But a…
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The USDCAD structure hints at a bearish impulse consisting of intermediate waves (1)-(2)-(3)-(4)-(5). The impulse is part of a primary degree Ⓐ-Ⓑ-Ⓒ zigzag. At the time of writing, waves (1)-(2)-(3)-(4) are fully complete. The correction…
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US energy company Chevron is due to report earnings on Friday. Earnings per share is forecasted at  -$0.89. In Q1 the company reported earnings of $1.93. This was well above expectations of a $0.65 EPS. However, as a result of the…
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There is a universal consensus that the Fed will leave the interest rate where it is, but that doesn't mean there aren't other policy changes that could happen. We have  reason to think that the Fed might be worried about the economy. There…
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AUDJPY entered consolidation after a bearish pullback at the cloud top. It found support at 74.95. Above the 75.20 zone, price action suggests an upside move. The said level is a confluence of the 61.8% and 38.2% Fibonacci retracements.…
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The precious metal surged ahead as it hit a new all-time high record. Gold prices rose to intraday highs of 1945.52 as it continues its bullish momentum. The gains come amid fears of economic recovery as well as more stimulus packages…
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Oil prices are trading below the 41.00 handle at the time of writing. The commodity is down over 1.5% intraday. Even a weaker USD has failed to lift oil prices higher. The declines come amid concerns of weaker demand. If oil prices close…
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The Pound sterling is also lifted by a weaker greenback. Price action rose to nearly a 5-month high on Monday. On an intraday basis, GBPUSD pushed toward 1.2902 before pulling back slightly. Given the current momentum, GBPUSD could be…
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