Orbex - Forex Trading Library

CHFJPY is running towards the small-deviation descending channel of the large-deviation descending channel starting Sep 21, 2017. After two sound tests on Mar 09 and Apr 29 - respectively - bears are re-attempting to penetrate the highly…
Read More

Gold prices are likely to continue to trade within the levels of 1712.47 and 1691.76. This comes as risk appetite is improving slightly. With prices trading within the said levels, the bias also remains mixed. There is scope for both…
Read More

WTI crude oil prices are up for the fifth consecutive session. As a result, the rally in oil prices saw them trading near the 25.00 level. This marks the completion of the double bottom pattern after a successful rebound. With prices…
Read More

The British pound sterling is caught range-bound within the levels of 1.2485 and 1.2277. However, amid this consolidation, price action is posting a bearish head and shoulders pattern as the minor neckline support level at 1.2423 holds…
Read More

The euro currency is falling for the second consecutive day, down close to 0.60% on an intraday basis. With the declines so far, price action is erasing the gains from the previous sessions. The support level of 1.0879 failed to step…
Read More

The AUDUSD structure shows a bearish impulse consisting of waves ①-②-③-④-⑤. The first four parts of the primary degree pattern appear to be fully completed. At the time of writing, the intermediate wave (1) of ⑤ is complete.…
Read More

Right now, most countries are looking towards ways to ease social distancing measures that harm the economy. Therefore, the next area we need to be focusing on is employment. The evolution of the jobs market is likely to be the key to…
Read More

The Canadian dollar has recovered a good portion of its losses against its American counterpart since the March 19th, 2020, high at 1.4668. USDCAD has maintained a sell-the-rally bias since then. The bearish move towards 1.39 is now…
Read More

WTI Crude oil prices are up nearly 12% on the day. It was the fourth consecutive session of gains. With the price level at 17.80 being cleared, crude oil prices could be likely targeting the double bottom pattern’s target price of 25.00.…
Read More

Gold prices are trading modestly flat with the bias staying mixed at the moment. Price action is caught between the resistance and support levels of 1712.50 and 1691.75. A breakout from this range could see a short term direction…
Read More