Orbex - Forex Trading Library

FDA Announcement Improves Sentiment The US index closed above 93 for a second consecutive day. Investors were buoyed by the news that the US has authorized plasma coronavirus treatment. The FDA had concluded the treatment was safe after…
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XAUUSD hints at forming a primary impulse wave ⑤ which is part of impulse V of the cycle degree. The first three parts of the impulse pattern ⑤ are complete. At the time of writing, correction (4) of the intermediate degree is taking…
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USDMXN has witnessed a bearish move from its recent spike of almost $23 on Aug 04. The pair created a bullish move after hitting support at 21.82 which was at 78.6% of the Fibonacci retracement. Previous standard and hidden bullish…
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The precious metal is taking it easy amid a strong risk-on rally that is pushing equity markets to record highs. The risk-on sentiment comes on optimism on the developments for the treatment of the virus. Price action is supported…
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WTI Crude oil rose slightly higher on Monday amid storms in the Gulf of Mexico. The storm is threatening a complete shutdown of oil production units in the region. Oil prices rose to intraday highs of 42.85 before pulling back. Any…
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The British pound sterling briefly tested the price level near 1.3122. Price action was rejected, and this resulted in a strong bearish candlestick. The current declines could see GBPUSD testing the lower support at the 1.3000 region.…
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The common currency is trading somewhat flat on Monday. Price action on the 4-hour chart shows a lower high forming. At the same time, we also have the hidden bearish divergence. From here on, EURUSD will most likely slide to the…
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Qualcomm Higher Pre-Market Shares in US tech firm Qualcomm are trading over 2% higher pre-market on Monday. The company has been in the spotlight recently over a court case. Within the case, they claimed that Qualcomm had abused its…
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Last week, new coronavirus cases in Germany averaged over 1,000 per day, marking the highest number since April 24. The steady growth has coincided with other countries across Europe in the middle of vacation season. Following a meeting…
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The 2-month CADJPY high witnessed on the Aug 14 has seen a pullback towards the 80 area. The momentum indicator had previously witnessed a hidden bullish diversion. We now look to the 38.2% of the Fibonacci retracement for further signals.…
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