Orbex - Forex Trading Library

WTI crude oil prices are posting strong gains, gaining over 19% on the day. Price action is near the resistance level of 17.80. This marks the resistance level of the double bottom pattern. Oil prices need to break-out above this…
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The British pound is up over 1.0% on the day following the upside breakout. Over the last couple of weeks, price action has been trading within the sideways range between 1.2485 and 1.2277. Price action is likely to test the upside…
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The euro is up over 0.60% on the day following the ECB’s meeting. The currency pair which has been in a sideways range could eventually breakout. As widely expected, the inverse head and shoulders pattern has been validated following…
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NZDUSD structure resembles a bearish primary impulse wave Ⓐ,  which consists of five intermediate sub-waves (1)-(2)-(3)-(4)-(5). Currently, in wave (4), bulls could be in for a surprise as the corrective triple zigzag structure seems to…
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The 4-hour chart of GBPUSD is showing a divergence between prices and the RSI (6), which suggests that momentum could turn bearish any moment again. In fact, the bottom trendline of the descending channel starting December 12, 2019, will…
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It seems like almost daily, governments are announcing new spending programs, many of which are the largest in history. US debt is expected to balloon to levels not seen since WWII. Central Banks have taken off almost all limits on asset…
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Gold prices are down close to 0.20% on the day. Price action, however, remains a bit flat, trading close to the resistance area of 1712.47. A strong continuation of the downside will confirm that the resistance level is valid. This…
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WTI crude oil prices are up over 22% on an intraday basis. This follows a strong recovery from the 10.58 level of support. Price action fell back to this level to form a double bottom pattern. With the support area holding strong, prices…
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The GBPUSD currency pair is likely to continue its range-bound trading for a while. Following the previous session’s gains to the resistance level near 1.2485, price action is pulling back. This could keep price action subdued within…
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The euro currency is trading rather flat, up just 0.30% on the day. Price action briefly rose to the minor resistance area of 1.0871 before pulling back slightly. The inverse head and shoulders pattern that we are watching remains in…
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