Orbex - Forex Trading Library

NASDAQ only missed the 9375 top by a few pips. However, that follows multiple attempts to break the ascending channel starting Mar 26. That suggests a reasonable failure as the lower channel has been a hurdle for bulls since May. Despite…
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Gold prices are trading a tad weaker, giving up some of the gains from the previous session. Despite price action breaking past the 1712.47 level, gold prices have slipped back below. The downside bias is toward the support at…
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Volatility in WTI crude oil prices are lower once again. This comes despite oil prices breaking the rising trend line. Price action is firmly trading above the 25.00 level which marks the support level. As long as this support holds,…
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The pound sterling briefly accelerated the declines intraday. However, price quickly reversed the gains following a test to the lower support level at 1.2277, just a few pips higher. The sideways range between 1.2485 and 1.2277 will most…
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The euro currency is trading consistently close to the confluence of the rising trendline and the horizontal support level at 1.0823. Price needs to close above this level for any form of upside bias to build up. The initial upside…
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Tomorrow we have some key data which could give us some insight into how the world's economies will evolve in the aftermath of the COVID-19 pandemic. We have the release of inflation data from the world's two largest economies.…
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Price action on USDJPY has been bullish since the 106.00 takeover on May 07. One swing low at 106.25 and one at 106.75 have both supported the upside initiative since. The latter, followed by a break above the descending trendline…
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The precious metal continues to trade rather flat with a strong range established within the levels of 1738.65 and 1678.31. This sideways range is now into its third week of consolidation. There is no clear trend that is showing so far,…
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Last Week’s Highlights US manufacturing PMI from ISM falls to an 11-year low The latest manufacturing PMI from the Institute of Supply Management showed activity falling to an 11-year low. The index fell to 41.5 in April, down from 49.1…
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