Orbex - Forex Trading Library

Crude oil prices remain weak, although price action is somewhat on a stronger note. The commodity is slightly up 1.5% on the day. However, briefly, prices tested the 22.00 level. But, failure to breakout above this level is keeping…
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The British pound is on track to test the resistance level of 1.2858. This comes after prices briefly tested the support level of 1.2277. With support forming here, a breakout above the previous local highs of 1.2486 will confirm the…
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The euro failed at the support level of 1.1055. This puts the bias to the downside if the currency pair fails to break out above this level. If resistance forms near 1.1055 then we expect a possible move to the downside. The lower…
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Wednesday is April Fool's, and some might be forgiven to wish the last couple of months of trading were an elaborate prank. But the data coming out is still quite serious. To begin with, this time around, we're going to be paying very…
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The bigger picture is the loss of 0.6705 base support and the plunge thereafter. The pair printed a low of 0.5510, losing almost 1,200 pips. Currently, the pair is up on a bounce which is likely to continue this week. The daily chart…
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The numbers will have much to do with the way the pandemic has changed our way of life. We will be seeing the consumer confidence data coming out tomorrow and expectations are for a steeper fall. Consumer confidence tracks sentiment…
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Gold prices are trading rather flat on the day following last week's gains. Price action is trading near the ascending wedge pattern amid some choppy trading. If XAUUSD fails to breakout above the previous highs of 1643, then we…
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Oil prices are down over 6% on the day as price broke past the previous support of 22.00. On an intraday basis, oil prices fell to lows of 19.85 before pulling back modestly. The breached support area of 22.00 will now turn to…
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The British pound is retracing some of the gains from Friday’s session. However, price action looks bullishly positioned. There is scope for a decline to 1.2277 where support could be forming. This will position the currency pair…
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The euro currency slipped, losing more than 0.50% on the day. However, price is being supported off the lower median line. If price follows through above the previous highs of the 1.1133 region, then we expect further gains above the…
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