Orbex - Forex Trading Library

The current DXY formation hints to a large bullish 5-wave impulse consisting of sub-waves I-II-III-IV-V of a cycle degree. Currently, a bullish impulse V of a cycle degree is under construction. It consists of primary sub-waves…
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Gold prices closed last week with a doji candlestick pattern right near new highs. Price pulled back after testing highs of 1747.04. The set up suggests a possible pullback lower. As long as price does not close above the 1709 level,…
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Last Week’s Highlights US Housing Data Hit Hard by the Pandemic The monthly housing starts data, which is a measure of the number of new residential construction projects, fell 22.3% in March. Data from the Commerce Department showed that…
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There are a lot of expectations about employment figures out of the UK. But, unfortunately, an official measure of the coronavirus' impact on the jobs market in the UK is going to have to wait a bit. The reason being is because tomorrow we…
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USDCAD Rises as Canada's Economy Contracts The Canadian dollar is in troubled water due to a combination of free-falling oil prices and a GDP slump. The Bank of Canada kept interest rates unchanged at 0.25% last week and ramped up…
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Gold prices eased into Friday’s close, losing just over 2% after hitting highs of 1747. The declines accelerated after the higher low near 1712 gave way. The current declines could see gold testing lower support near 1671.95. As a…
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WTI crude oil prices fell to an 18-year low on Friday. Price action settled near 18.44, after briefly slipping to 17.41 on an intraday basis. The current price level marks a retest of a multi-year support level. Crude oil posted a low…
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The GBPUSD currency pair continues to consolidate sideways. Price action is trading right near the upper end of the range at 1.2497. With the Stochastics oscillator turning higher, there is scope for prices to find support at this level.…
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