Forex Trading Blog and Market Insights

XAUUSD rises to a four-week high

Orbex Apr 7, 2020 301 0

Gold prices are holding on to the bullish gains with prices rising sharply to a four-week high. This comes after the breakout above the previous pivot high of 1630. To the upside, the next main price level is at 1655. Failure to…
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Technical Analysis

WTI crude oil fails to breakout off resistance

Orbex Apr 7, 2020 335 0

Oil prices continue to maintain a strong gain, building upon the momentum over the past few sessions. Price action is back to the resistance level of 28.00. Following this, oil prices are slipping back off this level. In the near…
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Technical Analysis

Sterling creeps back into range

Orbex Apr 7, 2020 287 0

The GBPUSD currency pair is rising back into range after slipping to the downside of 1.2280. The bias remains mixed for the moment. If GBPUSD enters into the range, then we expect the upside near 1.2485 to hold the gains in the near…
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Technical Analysis

Euro holding on to 1.0787 support

Orbex Apr 7, 2020 312 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 400 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 326 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 1,131 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 949 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 1,347 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 339 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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