Forex Trading Blog and Market Insights

EURUSD Trades Flat As It Fails To Clear 1.1261

Orbex Jul 2, 2020 299 0

The euro currency is holding on to a sideways pattern. Price action once again attempted to breakout above 1.1261 level of resistance. But failing to breakout higher is keeping the currency pair subdued. A smaller range is forming with…
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EURUSD Retreats on Double Zigzag?

Roman Onegin Jul 1, 2020 2,128 0

The current EURUSD structure suggests that we are on a bullish impulse in wave (C). The 5-wave formation consists of minor sub-waves 1-2-3-4-5. Waves 1-2 and 3 are fully completed, whereas wave 4 completed two parts of its double zigzag…
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Fundamental Analysis

Getting Ready for June US NFP

Daniel John Grady Jul 1, 2020 983 0

Forecasters were caught off guard (the polite way of saying their prediction was way off) by the sudden increase in job creation in May. Now, they have switched to being optimistic about the release on Thursday. They are now projecting…
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Technical Analysis

CADJPY Momentum Decelerates

Stavros Tousios Jul 1, 2020 731 0

CADJPY's strong rebound from the 73.76 low on March 09 seems exhausted, based on the RSI (14) reading. The pair has not yet filled the long-term descending regression channel range at the upper trendline near 83.00. However, the miss of…
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Italiano

La Liquidità Sostiene I Sogni Rialzisti Dell’Equity

Fabio Michettoni Jul 1, 2020 590 0

NASDAQ 100 (NAS 100): A Caccia Di Nuovi Massimi Storici S2: 9,871.2 S1: 10,014 R1: 10,242.5 R2: 10,471 La settimana appena trascorsa ha mostrato per l’indice NASDAQ100 un piccolo pattern di inversione con due livelli…
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Technical Analysis

Gold On Track to Make The Best Quarterly Gains in Four Years

Orbex Jul 1, 2020 410 0

The precious metal is somewhat bullish as price action inches closer to the 1800 level. Overall, the precious metal is making the best quarterly gains, last seen in March 2016. However, the current momentum remains somewhat weak.…
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Technical Analysis

Crude Oil Trades Weaker as Trend Line Holds For Now

Orbex Jul 1, 2020 253 0

WTI Crude oil prices once again dipped back to the major trend line to find support. Prices are inching closer to the 41 level of resistance which has held up firmly so far. This potentially puts the trend line at risk. If oil prices…
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Technical Analysis

Pound Sterling Rebounds Off A 5-Week Low

Orbex Jul 1, 2020 244 0

The British pound sterling is trading choppy following the recent economic data out of the UK. However, the cable managed to break out following a drop to a 5-week low earlier in the day. As a result, GBPUSD has cleared the 1.2344…
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Technical Analysis

EURUSD Double Bottom Pattern In The Making

Orbex Jul 1, 2020 340 0

The euro was back near the 1.1261 level on Tuesday. But prices failed to make any major gains beyond this level. As a result, we have a double bottom pattern near the 1.1192 level. If there is a successful breakout, we expect the gains…
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Fundamental Analysis

Upcoming Japan Tankan & Consumer Confidence Surveys

Daniel John Grady Jun 30, 2020 743 0

There has been something odd about the yen, lately, tomorrow we might get some clues as to why. There is a host of key data coming out, but the Tankan survey could answer a couple of open questions. It could also give better insight into…
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