Forex Trading Blog and Market Insights

EURUSD Consolidating Near Trend Line And Support

Orbex Aug 12, 2020 305 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 280 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 1,264 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 504 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 451 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 442 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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Technical Analysis

WTI Crude Oil Falls Back Into Consolidation

Orbex Aug 11, 2020 435 0

Oil prices have been somewhat volatile over the past few sessions. After trading strongly above the 42.00 level, oil prices gave way, paring gains. As a result, WTI crude oil is now trading within the 42.00 and 41.00 levels. A…
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Technical Analysis

GBPUSD Likely To Settle Inside The Range

Orbex Aug 11, 2020 400 0

The British pound sterling is also extending losses from last Friday. Just after price made another attempt to close above 1.3122, GBPUSD dropped lower. For now, price action is likely supported near the 1.3000 level. We expect some…
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Technical Analysis

Euro Continues To Extend Declines

Orbex Aug 11, 2020 306 0

The common currency is trading weaker on Monday's open, extending on the declines from last Friday. This comes as price failed to breach the previous two-year highs. The dollar strength is also adding to the current weakness in EURUSD.…
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