Forex Trading Blog and Market Insights

Euro holding on to 1.0787 support

Orbex Apr 7, 2020 311 0

The euro currency is trading near the support level 1.0787 level. With the Stochastics oscillator moving from the oversold level, we expect the momentum to push prices higher. If the correction persists, then we expect a move towards…
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Technical Analysis

GBPUSD: Impulse Structure Hints at Further Upside

Roman Onegin Apr 6, 2020 398 0

The current GBPUSD structure shows a completed primary Ⓐ-Ⓑ-Ⓒ zigzag in wave b. This pattern is part of the cycle degree correction a,b,c. After the conclusion of wave b, bulls pushed prices higher to form a 5-wave impulse, labeled as the…
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Fundamental Analysis

A Hold from the RBA?

Daniel John Grady Apr 6, 2020 325 0

Tomorrow is the day a lot of AUD traders have been waiting for; the scheduled meeting of the RBA. Not because we expect the bank to make any significant policy changes, but to see what the expectations of the bank are after all the…
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Fundamental Analysis

Weekly Fundamental Bulletin: OPEC Meeting & Inflation

Orbex Apr 6, 2020 1,129 0

Last Week’s Highlights China’s Manufacturing Activity Rebounds In what seems like a scenario that's too good to be true, China’s manufacturing activity for March rolled back into expansion territory. This comes right after the data for…
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Technical Analysis

The Week Ahead: Spread Gone Wild

Jing Ren Apr 6, 2020 948 0

USDCAD Consolidates its Gains The US dollar bounced back as the demand for safe assets continues to rise. Despite the central bank's interventions to ease the strain in the funding markets, which temporarily drove the greenback…
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Italiano

Occhio Al Ribasso Prossimo Venturo

Fabio Michettoni Apr 6, 2020 1,346 0

EURUSD (EURUSD): Nuove Prove Di Tenuta Dei Supporti. S2: 1.0733 S1: 1.0797 R1: 1.0947 R2: 1.1097 L'Euro ha chiuso una settimana piuttosto complicata, tornando nuovamente a ridosso di quota 1,08, cancellando di fatto la…
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Fundamental Analysis

Global Stocks UP!

Stavros Tousios Apr 6, 2020 337 0

Global equities started the week off on good footing following Europe's signal on easing lockdown measures. SP500 rose along with other world indices, however, the UK's FTSE was boosted further on a weaker pound. The British currency had a…
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Technical Analysis

XAUUSD drifts slightly higher

Orbex Apr 6, 2020 439 0

The precious metal has become somewhat weaker after the previous volatility seen in the weeks gone by. Price action is gradually drifting higher, in an attempt to test the previous highs. The main level of interest is 1632. A breakout…
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Technical Analysis

Sterling breaks to the downside from its range

Orbex Apr 6, 2020 245 0

The pound sterling is looking to break out from its range as price slipped from the lower range on Friday. The declines below 1.2260 level could indicate a move lower. However, the intensity in the breakout remains weak, putting to…
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Technical Analysis

WTI maintains strong gains for a second day

Orbex Apr 6, 2020 276 0

WTI crude oil prices are rising higher for a second day. Prices rose over 16% into Friday’s close, led by the optimism of an OPEC supply cut. At the time of writing, WTI crude oil prices are trading near the resistance level of 28.00.…
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