Can A Fed Interest Rate Hike Save The Dollar? – Orbex Forex Trading Blog

The dollar has been trending to the downside, particularly since the new covid vaccines have been announced. As the economy recovers, one typically does expect safe havens like the US dollar to depreciate a bit. But there are several issues that make it especially likely, which is why there are so many analysts and economists … Read more

GBPUSD Has The Triangle Cycle Ended? – Orbex Forex Trading Blog

The GBPUSD currency pair shows the formation of a large cycle triangle. Currently, we see the final primary impulse wave Ⓒ of the zigzag cycle wave e. As part of the bullish impulse wave Ⓒ, a small correction wave 4 recently completed. This took the form of a skewed triangle, after which the price growth … Read more

AUDNZD Looks for Golden Ratio Resistance – Orbex Forex Trading Blog

AUDNZD has been drawn into a choppy market after plummeting over 600 pips in the second half of 2020. Since then, two separate attempts to shift the dynamic to the upside have failed. We now see prices trading firmly within the Ichimoku cloud. The golden ratio of 61.8% of the 1.1027/1.0414 downside Fibonacci leg is … Read more

Crude Rallies Despite EIA Inventories Build – Orbex Forex Trading Blog

Crude Higher As Risk Appetite Recovers Crude oil prices have been sharply higher again this week. The market extended recent gains by a further 8%. The upside move derived further support from the rebound in risk appetite as equities prices recovered off mid-week lows following Fed Chairman Powell’s comments. Powell pushed back against speculation that … Read more

Von der Leyen: EU is Catching Up with the UK – Orbex Forex Trading Blog

Greenback Index Flirts With 90 The dollar strength faded throughout Wednesday’s session. After initially spiking to weekly highs, it eventually closed 0.10% down. This comes despite new home sales rising more than expected in January, with the focus now shifting on today’s jobless claims. With new infection cases dropping across America, researchers have found a … Read more

GBPUSD Gets Rejected after Testing a Three-and-a-Half-Year High – Orbex Forex Trading Blog

The British pound sterling rose to a fresh three-year high at 1.4140. But prices were rejected intraday with the currency pair likely to close bearish or flat. Given that this pattern comes near the top end of the rally, it could potentially signal the start of a correction in the GBPUSD. The cable has not … Read more

Euro Trades Subdued but Supported by the Trend-Line – Orbex Forex Trading Blog

The euro currency is trading rather mixed, a day after prices almost closed flat on Tuesday. Overall, the long-term trendline on the daily chart is supportive of prices. Therefore, we could see price action attempt to push higher. The 50-day moving average is also close and could come in as dynamic support. For the near … Read more

Upcoming US GDP & Dollar Future – Orbex Forex Trading Blog

Tomorrow we get the final results for US Q4 GDP growth. Expectations are for the result to confirm that the American economy grew by 4.0% annualized (or 1.0% during the quarter), protecting the US from falling into a second technical recession. So, if the economy is doing so well, and analysts expect it to improve … Read more

Musk Loses World’s Richest Title After Tesla Shares Tumble – Orbex Forex Trading Blog

Dollar Finds Support The greenback closed yesterday’s session 0.11% higher, as it bounced off the 90 support level. After hitting a fresh multi-week low, the dollar has a slight spring in its step on Tuesday. However, bulls are treading carefully after Fed Chair Powell pledged to the Senate banking committee that the FOMC remains committed … Read more

GBPUSD Steadies on Lockdown Lifting Optimism – Orbex Forex Trading Blog

The British pound sterling, which has already seen a strong bull run got another boost on Tuesday. The UK Government prepared a roadmap towards re-opening its economy. This puts further upside pressure on the currency pair which is already enjoying a strong rally. Price action is trading outside the rising price channel currently. With the … Read more