Orbex - Forex Trading Library

The pound sterling fell to a one month low on an intraday basis after the currency pair lost the 1.2277 support area. Price action is currently rebounding following the declines. But, the gains will likely stall near the 1.2277 level…
Read More

The euro currency continues to extend declines. The support level near 1.0811 was lost. In the process, price action is forming a potential head and shoulders pattern. The neckline support is forming at the 1.0793 level. Currently,…
Read More

The current SPX500 structure shows a completed impulse wave a. The cycle degree pattern is followed by a zigzag in wave b. Wave b consists of primary sub-waves Ⓐ, Ⓑ, Ⓒ. At the time of writing, only the primary waves Ⓐ and Ⓑ are complete.…
Read More

Two of the key macro data trends we want to be paying close attention to in order to know how, when, and if there is a recovery, are jobs and consumer sentiment. Tomorrow we get several releases from the height of the pandemic on job…
Read More

Despite the pair breaking a monstrous trendline resistance (TR1) dating back to Aug '15, the current price action provides limited clues for the medium-term. One would assume that the breakout will take prices higher but this is not…
Read More

The precious metal is trading back near the technical resistance level of 1712.47. As the sideways range is maintained, we expect prices to drift lower. There is also a trend line that will come in as dynamic resistance keeping a lid…
Read More

Price action in WTI crude oil markets have come to a standstill. Although trading above the 25.00 level, prices are trading rather flat. With only a modest lower high forming so far, this consolidation could see a breakout in the near…
Read More

The British pound sterling is looking to finally emerge from the sideways range. This comes after price was trading below the lower support level of 1.2277. A strong close below this level on a daily basis will confirm further…
Read More

The euro currency is trading rather flat after prices posted a modest gain intraday. After rising to highs of 1.0896, the euro currency gave back the gains. Price action, however, remains firm to the upside for now, trading above the…
Read More

USDJPY seems to be forming a bullish Ⓐ-Ⓑ-Ⓒ zigzag. Wave Ⓐ formed a 5-wave impulse and wave Ⓑ a simple (A)-(B)-(C) zigzag. Wave Ⓒ has only just started moving up. Currently, the pair is moving in the intermediate wave (1) of Ⓒ. It…
Read More