Forex Trading Blog and Market Insights

EURUSD struggles to break out above 1.1000

Orbex May 22, 2020 294 0

The euro currency’s rally finally saw prices rising to the 1.1000 level. However, there are early indications suggesting a pullback. This will keep EURUSD range bound within 1.1000 and 1.0736 for the time to come. However, the…
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Technical Analysis

AUDUSD Impulse Part of Triple Zig-Zag

Roman Onegin May 21, 2020 1,298 0

The current AUDUSD structure hints to the end of a triple zigzag in wave Ⓑ. The final wave, wave (Z), consists of minor sub-waves A-B-C. With waves A and B complete, the impulse seen in wave C is under development. This last minor-degree…
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Fundamental Analysis

What to Expect from UK, NZ & Canada Retail Sales

Daniel John Grady May 21, 2020 1,227 0

Retail sales figures are key for tracking people returning to shopping following COVID-19. With most of the world moving towards reopening, we would expect retail sales to increase substantially if we are to have a U-shaped recovery.…
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Technical Analysis

NZDCHF Fails To Re-Enter Descending Channel

Stavros Tousios May 21, 2020 336 0

NZDCHF failed to break the descending channel starting Jul '17 three times over the past three weeks. This suggests that the region below the 60 figure is acting as a retest and more weakness can be expected. With each of the bullish…
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Technical Analysis

XAUUSD attempts to pare losses

Orbex May 21, 2020 249 0

The precious metal is posting a recovery rally following the sell-off from the previous sessions. Price action is back trading near the 1750 handle after slipping to lows of 1731 earlier. But with the previous high at 1764.90 level,…
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Technical Analysis

WTI crude oil rallies to resistance level

Orbex May 21, 2020 256 0

The rally in oil prices saw the commodity finally hitting the technical resistance level at 33.59. This comes as the commodity rose over 5% intraday on Wednesday. But with the Stochastics oscillator indicating a possible divergence,…
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Technical Analysis

GBPUSD could struggle to breakout above 1.2271

Orbex May 21, 2020 237 0

GBPUSD is maintaining a steady pace as the recent rally has pushed price to the technical resistance area of 1.2271. The strong hidden divergence on the Stochastics points to a possible correction lower. Given that GBPUSD has formed a…
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Technical Analysis

EURUSD at risk of a correction as the rally continues

Orbex May 21, 2020 268 0

The euro currency is rising steadily, with a boost from a weaker US dollar. Price action is, however, indicative that a correction could come in the near term. At the time of writing, EURUSD is seen filling the gap from May 1st, 2020.…
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Technical Analysis

GBPJPY Double or Triple Zigzag?

Roman Onegin May 20, 2020 1,408 0

The GBPJPY structure shows a primary complex pattern consisting of an (A)-(B)-(C) standard zigzag. Wave (A) is a 5-wave bullish impulse, and wave (B) a double zigzag consisting of minor sub-waves W-X-Y. Wave (C) is currently under…
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Fundamental Analysis

Why the Urgent Need For Fiscal Stimulus?

Daniel John Grady May 20, 2020 264 0

There have been a number of different stimulus programs announced to deal with the economic fallout of COVID-19. And they can get quite confusing. Especially when we consider that each country, and often parts of countries, have their…
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