Forex Trading Blog and Market Insights

AUDCAD Breaks Symmetrical Consolidation

Stavros Tousios Jul 2, 2020 614 0

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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Technical Analysis

Gold Slips Off The Rising Wedge Pattern

Orbex Jul 2, 2020 384 0

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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Technical Analysis

Oil Prices Once Again Retreat From The Resistance Level

Orbex Jul 2, 2020 380 0

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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Technical Analysis

GBPUSD Breaks The Trend Line And Turns Bullish

Orbex Jul 2, 2020 316 0

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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Technical Analysis

EURUSD Trades Flat As It Fails To Clear 1.1261

Orbex Jul 2, 2020 300 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 2,130 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 986 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 733 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 591 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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