Orbex - Forex Trading Library

EURGBP at Crossroads as UK Reopens The euro is struggling to hold its ground against the pound sterling after a sharp retreat to the March lows. Prime Minister Boris Johnson’s statement that Britain was past the peak of the pandemic…
Read More

The precious metal is likely to emerge from its sideways range. The consolidation since April 14th saw prices trading flat. Following the previous highs near 1726.18, gold prices pulled back to April 21 lows of 1683.20. Gold prices…
Read More

The precious metal extended declines last week to test the support level of 1671.95. However, price action quickly reversed those declines to move modestly higher. XAUUSD is now trading within the levels of 1712.50 and 1671.95. A…
Read More

Oil prices have posted a remarkable rebound. Friday’s price action saw WTI crude oil posting modest gains, rising above the 17.80 handle. This qualifies the double bottom pattern near the 10.58 level. As long as prices remain above…
Read More

The Pound sterling gave back some of the gains from late last week into Friday’s close. GBPUSD was down 0.82% on the day as price settled near 1.2487. This drop marks a retest of the breakout level which served as resistance. A…
Read More

The euro currency maintained its bullish stance as price action rose to a four-week high into Friday’s close. EURUSD tested the 1.0978 level. This marked the upside target of the inverse head and shoulders pattern. In the short term,…
Read More

The current UKOIL structure suggests that the primary correction ④ is currently under construction. Wave ④ consists of three intermediate sub-waves (A)-(B)-(C) and is a simple zigzag, where (A) is an impulse, (B) is a zigzag, and (C) is…
Read More

Governments need to have accurate information in order to make decisions. In a democracy, where the government is subject to the will of the people, the populace needs to be informed in order to evaluate the government's actions.…
Read More

Gold prices are trading rather mixed on the day. Price action is strongly consolidating near the price level of 1712.50. For the moment, the resistance level is holding up. This could confirm the downside in prices. The minor…
Read More