Forex Trading Blog and Market Insights

Oil prices muted to OPEC production cut

Orbex Apr 14, 2020 328 0

Crude oil prices did not react much to the news that Saudi Arabia and Russia agreed to cut oil production by over 9 million barrels. Price action slipped back, falling to the lower end of the range close to the 22.00 handle. Given…
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Technical Analysis

GBPUSD holds steady near upper end of range

Orbex Apr 14, 2020 303 0

GBPUSD continues to tread higher at a steady pace. Price action is trading above the 1.2500 level. However, the intensity of the breakout could keep the downside risks. There is scope for prices to slip back to the lower end of the…
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Technical Analysis

EURUSD Retraces After Breaking Resistance

Orbex Apr 14, 2020 271 0

The euro continues to retrace the gains after breaking past the resistance level of 1.1000 level. As long as this level holds, price action is likely to remain steady. A reversal off 1.1000 level could, however, establish the upside…
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Technical Analysis

NZDUSD: Intermediate Correction (4) Likely To Complete Near 0.6146

Roman Onegin Apr 13, 2020 1,365 0

NZDUSD seems to be forming a primary impulse wave Ⓐ which is part of a (1)-(2)-(3)-(4)-(5) bearish zigzag of the intermediate degree. The current structure suggests that we are in a corrective wave (4), and perhaps this wave has not yet…
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Technical Analysis

AUDNZD – Approaching End of Correction Zone

Tahir Khan Apr 13, 2020 392 0

March will be remembered in history books for setting new records that are likely to stay put for a considerable amount of time. Like elsewhere in the financial markets, FX saw increased volatility in most pairs, covering larger ranges.…
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Technical Analysis

German DAX – Bullish Flag

Orbex Apr 13, 2020 329 0

The German DAX Index is likely to see further upside, following the larger sentiment in the global equity markets. The index is down over 38% since hitting an all-time high of 13796 in February this year. Following the drop to 8400,…
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Fundamental Analysis

What Are “Coronabonds” & Why Are They Controversial?

Daniel John Grady Apr 13, 2020 870 0

Last Thursday, the Finance Ministers of the European Union agreed on an unprecedented spending package of €500B. They billed this move as a "stimulus" spending program. However, some are saying it's more accurate to call it a market…
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Italiano

Mercati In Transizione Tecnica Prima Del Ribasso

Fabio Michettoni Apr 13, 2020 628 0

CRUDE OIL (US Crude Oil): Debole Su Tagli Alla Produzione S2: 18.77 S1: 20.76 R1: 26.55 R2: 32.34 Il tanto combattuto taglio alla produzione non ha sortito l’effetto di rafforzare le quotazioni del greggio, costretto a…
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Technical Analysis

The Week Ahead: Supply Gap

Jing Ren Apr 13, 2020 944 0

USDCAD Continues to Fall Back The US dollar may extend its retreat against its neighbor after oil producers agreed to production cuts. OPEC+ announced plans to curb output by more than a fifth or 10 million barrels per day to support…
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Technical Analysis

Oil Price War Ends!

Stavros Tousios Apr 13, 2020 291 0

The OPEC+ cartel agreed to cut production by 9.7M bpd in May and June and pledged to increase cuts to nearly 20% of the global supply if necessary. Crude oil opened 9% higher on Easter Monday but traders were quick to discount the spike on…
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