Orbex - Forex Trading Library

WTI Crude oil prices made a strong gain in the early Asian trading session on Monday. Prices, as a result, hit the key level of 40.00. However, the commodity gave back the gains just as quickly and is down over 2% intraday. The…
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The British pound sterling rose to a fresh three month high as prices briefly touched 1.2728 before pulling back modestly. The price action on the daily chart could indicate a possible flat close, however. Unless the currency pair can…
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The euro currency is trading modestly following last Friday’s declines. However, the currency pair remains strong with an upside bias. At the moment, price action indicates a low forming around the 1.1287 level. A rebound off this…
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The current 1H formation on GBPJPY hints to a simple zigzag pattern consisting of primary sub-waves Ⓐ-Ⓑ-Ⓒ. We assume that we are currently in final impulse Ⓒ, which consists of five intermediate sub-waves. In the medium term, we…
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EURJPY Surges as ECB Props up Economy The euro rose to a 13-month high against the Japanese yen as markets unwind their safe-haven bets. Broad optimism has found support from the ECB’s latest effort to stimulate the bloc’s economy.…
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Last week’s highlights Australia Q1 GDP contracts Australian GDP contracted for the first time since 2011 in the three months ending March 2020. Economic activity during the period fell 0.3%, which was in line with the median forecasts.…
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The S&P500 managed to hit the ascending triangle chart pattern target of 3188 last week. The gains came on a successful breakout of the resistance level near 3000. With minimum retracement, the stock index moved steadily higher…
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The precious metal was down almost 1.7% on Friday amid a resurgence of bullish sentiment in the market. The risk-on factor pushed gold prices to slip to a five-week low before recovering slightly. The bias remains flat despite the…
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WTI Crude oil maintains a strong bullish momentum. Prices are now within reach of the key $40.00 price level. By Friday’s close, crude oil rose to a three-month high of $39.76. In the near term, the gains will likely see the 40.00 level…
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The British pound managed to rally on the last leg as price broke past the price level and target of 1.2643. The currency pair is now at a three-month high following a softer USD. While there is scope for further gains to continue, we…
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