Forex Trading Blog and Market Insights

AUDNZD Bulls Look For 2 Year Highs

David Kindley Aug 13, 2020 385 0

AUDNZD rose above 109.00 yesterday as the pair look towards hitting further fresh highs. The surge was visible from June 13th which was when the prices were last engulfed in the Ichimoku cloud. Since that date, prices have emerged from…
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UK Confirms Recession. Who’s Next?

David Kindley Aug 13, 2020 1,796 0

US Dollar Weakens as Stimulus Talks Take Their Toll The US index closed 0.27% lower on Wednesday as an imminent stimulus deal faded. It is back to trading in negative territory following three consecutive daily advances. The greenback…
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Fundamental Analysis

EIA Reports 3rd Consecutive Inventories Fall

Orbex Aug 13, 2020 1,362 0

Crude Levels Drop Again Crude oil prices have remained just below recent highs this week. This was supported by the latest report from the Energy Information Administration which showed a further decline in US crude stores. The EIA…
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Technical Analysis

Gold Stabilizes Near The 1900 Level

Orbex Aug 13, 2020 278 0

Following the strong declines, the precious metal is stabilizing after falling to a three week low on Wednesday during the early Asian session. Price action is now somewhat strong having established support near the 1900 region. To…
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Technical Analysis

WTI Crude Oil Holds Above 42.00

Orbex Aug 13, 2020 403 0

Crude oil prices brushed aside a weak demand outlook as per the reports from the latest projections from OPEC. Oil prices are trading about 2% higher intraday. A strong close above the 42 level could strengthen the upside bias. This is…
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Technical Analysis

GBPUSD Trading A Tad Weaker On GDP Data

Orbex Aug 13, 2020 278 0

The British pound sterling continues to trade weaker with price briefly testing the lows, just a few pips above the 1.3000 level. Price action has now comfortably settled within 1.3122 and 1.3000. This means that a breakout from this…
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Technical Analysis

EURUSD Paring Losses. Will 1.2000 Be The Next Target?

Orbex Aug 13, 2020 257 0

The euro currency is trading somewhat stronger and is paring losses from the past few days. However, prices will need to rise above 1.1876 to fully recover from the slump earlier. Right now, the currency pair is consolidation near the…
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Stocks

Danone Shares Under Pressure After Earnings Miss

Orbex Aug 12, 2020 477 0

Poor Q2 Earnings Shares in French food giant Danone remain a little soft this week following a subdued Q2 earnings report. The French food group posted earnings per share of 1.55 in Q2. EPS estimates of 1.69 were missed as a result of a…
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Technical Analysis

USDCHF Triple ZigZag On Its Way?

Roman Onegin Aug 12, 2020 1,508 0

USDCHF suggests a bearish wave z consisting of primary corrective sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.The move takes the form of a triple zigzag. Prices are currently structuring a primary wave Ⓧ which takes the form of a flat (A)-(B)-(C). With (A) and…
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Fundamental Analysis

Preview: US Weekly Jobless Claims & July Retail Sales

Daniel John Grady Aug 12, 2020 848 0

You would think that with a huge spike in unemployment in the United States, it would be easy for businesses to find employees. However, according to the NFIB, the largest small-business lobbying bureau, it seems to be the opposite.…
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