Orbex - Forex Trading Library

The precious metal is paring losses as prices are somewhat bullish on the day. Following the downside breakout from the rising wedge pattern, XAUUSD is retracing the losses back to the breakout level. However, gold prices now need to…
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WTI Crude oil prices are back near the technical resistance level once again. This comes amid price action remaining caught within the trend line and the horizontal resistance level. Price action needs to breakout higher above this…
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The British pound sterling rallied to the resistance level near 1.2516 level. However, price action is pulling back after a rally to that level. We could expect the pullback to continue to the trend line breakout. In the process, watch…
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The euro currency continues to maintain a sideways range. Prices are showing a strong consolidation around the 1.1261 level. Another attempt to rise above this level was met with resistance. For the moment, the falling trend is also…
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GBPUSD seems to be forming a cycle degree wave e. It is a triple zigzag that consists of primary corrective sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of the primary degree pattern seem fully complete. At the time of writing, final…
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There's been quite a bit of talk in the media of late about increasing cases in Australia, which has gotten many worried the county will return to lockdowns. It led to the suspension of flights between Melbourne and Auckland in the…
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AUDCAD continues inching higher, well supported above the regression channel that started in Oct '19. Breaking out of a symmetrical consolidation only recently, bulls could strike the 0.9445 resistance out next. Despite trading above…
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The precious metal failed to make any major gains after prices rose to highs near 1788. The rising wedge pattern signaled earlier results in prices making a short term correction. However, gold is still trading within the larger…
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WTI Crude oil prices made an attempt to test the technical resistance level around the 40.18 - 40.42 region. However, prices were pushed lower immediately. For the moment, the consolidation is showing a squeeze in the price between the…
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The pound sterling is posting strong gains for the second consecutive day, with prices rising to a one week high. The gains come following a successful breakout of the falling trend line. This opens up the upside toward the 1.2516 level…
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