Orbex - Forex Trading Library

GBPUSD, upon clearing the resistance level near 1.3122 is seen somewhat weaker. However, amid the current pullback, if price action forms support at 1.3122, then further gains might come its way. For the moment, the cable is trading…
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The euro currency fully recovered from the declines earlier in the week as it approached the July 31st highs. Price action briefly rose to the 1.1900 level once again but fell back intraday. This consolidation near the two-year high is…
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Yesterday, President Trump once again came out ahead of the big event of the week to tease that the NFP report would be significantly positive. We should note that the President does have advanced access to the information - or at least…
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Shares in German banking giant Commerzbank are trading 4.5% higher pre-market on Thursday. This comes following a better than expected Q2 earnings report yesterday. Commerzbank reported Q2 earnings per share of $0.18. This was versus…
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The current GBPUSD formation hints at a triple zigzag pattern. It consists of five primary waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. At the time of writing, we see the development of a simple zigzag in wave Ⓩ. Intermediate sub-waves (A) and (B) are complete,…
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Continued Woes Weigh On the Greenback The US index closed below 92 on Wednesday as sentiment remains negative over the contraction of the US economy. The ADP missed expectations on the number of private-sector jobs in the US. The figure…
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Crude Inventories Fall Again The latest report from the Energy Information Administration this week has helped further the cause of oil bulls. The EIA reported that in the week ending July 31st, US crude oil inventories fell by 7.4 million…
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The precious metal continued with its bullish onslaught on Wednesday. After breaking the $2000 threshold earlier, gold prices continued higher. Intraday prices saw gold rising toward the 2050 level before making a modest pullback. The…
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Oil prices managed to gather some bullish momentum on Wednesday. Prices rose over 3% intraday as WTI crude oil breached past the 42.00 handle eventually. The gains come amid a hawkish inventory report for the commodity. Still, doubts…
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The British pound sterling managed to recover from the brief weakness. Price reversed losses around the trend line to push back higher. With the 1.3122 level now being tested, further gains are likely. However, the Stochastics oscillator…
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