Orbex - Forex Market Reviews - Page 2

EUR & GBP stage a recovery

The euro and the British pound posted a modest recovery yesterday while the yen weakened against the dollar following two days of intense selling. Without a follow through here, the recovery is likely to be short lived...

UK votes to leave the EU

Markets plunge as Britons voted to leave the EU. Market volatility is likely to pick up in the aftermath of the EU referendum. Central bank speeches and further news flows are likely to keep the markets on the edge today...

Crunch time for EUR and GBP

UK polls open today at 0700 UK time and could see an initial knee-jerk reaction on the GBP and EUR. That said, the GBP remains at risk of a significant pullback, while the euro remains range bound within 1.120 and 1.130...

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Watch the bullish pennant pattern in Gold

Gold prices might be looking weaker on the daily and weekly time frame, but the 4-hour chart shows a bullish pennant pattern which could signal further upside in gold. With the UK referendum vote due in less than a day, gold prices could remain in a range with the likelihood of a move in either direction...

GBPUSD likely to pullback from yesterdays gains

GBPUSD remains trading flat, but price action indicates a near term correction, following the rally yesterday to test the resistance at 1.4668 - 1.46470. The markets look to another day of quiet trading except Janet Yellens speech that could see some movements...

Gold fails to hold gains above 1300

In a volatile trading session, gold prices broke above 1300 yesterday to rise to 1315 but pulled back sharply. A bearish follow through from here could see near-term declines...


Gold back at 1300 as central banks stand pat on policy

Gold prices are back at the $1300 handle as the FOMC, and the BoJ stood on the sidelines. However, the upside in gold is looking weak, unless price breaks clear of the $1300 - $1303 handle...

USDJPY looks to FOMC and BoJ meetings

The Federal Reserve will be releasing its monetary policy statement, economic projections and holding a press conference later today. The markets remain jittery ahead of the meeting, but the attention is on USDJPY, which will later see the BoJ meeting early tomorrow...

Sideways market emerging across the board

Most of the currencies are moving into a sideways pattern being established. EURUSD has bounced off above 1.1217 support and remains caught within 1.138 resistance, while gold prices continued to extend gains but remain within 1290 and 1273 levels...

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Gold prices likely to move sideways

The markets opened today on a mixed note with GBPUSD extending declines including the euro, on a stronger US dollar. However, the yen remains in favor with USDJPY seen testing the 106 levels yet again...

XAUUSD carving out a head and shoulders pattern

Gold, despite the recent bullish momentum, is carving out a bearish head and shoulders pattern with the neckline resistance at 1208 - 1210. A break below this level could extend declines towards 1100...

Rising wedge on EURUSD (H4) signals

Failure to make a convincing close following the inside bar, EURUSD's rising wedge pattern signals consolidation but opens the risk for a decline to 1.121 support that was broken during last Friday NFP report...


EURUSD goes nowhere but mind the inside bar

The dollar crosses were fairly flat yesterday with the sterling being the exception. While EURUSD formed a doji the day before, prices remained range bound in yesterday's trading forming an inside bar which portends a breakout in the near term...

Doji on EURUSD, Gold signals a correction

The US dollar was muted to Yellen speech in Philadelphia yesterday, but the doji candlesticks on EURUSD and Gold signal a near term correction in prices. In EURUSD, watch for a pullback to 1.120 region...

EURUSD, watch the 4-hour inverse head and shoulders

With the ECB meeting failing to offer any support to the euro yesterday, the markets now look forward to the NFP report today. Of particular interest is the potential and still evolving head and shoulders pattern on the 4-hour chart, with the neckline resistance at 1.1217...

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ECB meeting, key risk for the euro today

The ECB meeting today will be the main catalyst for the EURUSD, which could either send the Euro above 1.1217, for a corrective move to 1.138 or a break below 1.1143 which could see further declines start to pile up...

GBPUSD weaker, looking ahead to manufacturing PMI

Sterling slipped yesterday evening sharply on the release of new Brexit opinion polls, underlining the fact that the weeks ahead could likely see increase volatility in the cable. As a result, the yen strengthened and so did gold...

Short term bottom established in EURUSD and Gold

The markets were slow yesterday with the US and the UK closed, but Gold prices continued to slide lower. With the $1200 psychological level holding out so far, we expect a near term bottom in place with gold prices likely to correct higher...


Dollar on track to close May with strong gains

With just one more trading day to go, the US dollar is posed to close on a bullish note in the month of May following a strong and steady decline since January this year. Further upside is likely to continue and will keep the momentum going to the upside...

US GDP and Yellen speech in focus

The markets are likely to remain flat in the run up to the US GDP second revision followed by Janet Yellen's speech a couple of hours later. With the hawkish rhetoric gaining momentum...

Watch out for a dollar pullback

The US dollar has posted steady gains for three weeks now and ahead of an important week that will see US durable goods orders, revised Q1 GDP estimates, Fed voting member speeches including Fed Chair Janet Yellen speech this Friday, the dollar looks vulnerable at the current levels...


Gold is back to testing 1250 support

Despite falling by over one-percent, gold prices managed to recover in the near term, but the upside bias is increasingly weakening while 1250 support level is back into focus. The dollar is looking a tad weaker after the recent gains, and the markets could be in for a modest pullback...

Dollar strengthens on hawkish minutes

The US dollar got a boost from the Fed's minutes yesterday which has come out hawkish than expected. The euro, gold, and yen weakened against the greenback, but the sterling remained resilient. However, GBPUSD is limited in its upside at 1.46 and could see a move lower in the coming weeks...

FOMC Minutes could help break the price ranges

The markets at large, especially the EURUSD and USDJPY remain range bound, but that could change after the release of the FOMC meeting minutes due later in the evening. Ahead of the big event, UK employment data will be the key price mover in GBPUSD...


Sterling rallies ahead of CPI data

After a slow start to the week, the pace of economic data increases with UK and US inflation data due for release. GBPUSD is making some steady gains in early trading ahead of the monthly inflation report while gold prices remained mixed in yesterday trading...

GBPUSD looking weaker on a bearish breakout

Following Thursday doji pattern GBPUSD has broken out to the downside near 1.4425 support indicating a move lower in the coming days. Overall, the markets are likely to remain flat today for the most part ahead of important releases including inflation data and FOMC meeting minutes later in the week...

GBPUSD consolidates near support at 1.4425

The British pound remains range bound with prices going nowhere for the 4th consecutive day. Meanwhile, EURUSD slipped back into the support zone but is at risk of a decline to 1.121 levels if another bearish day is seen...


Gold could extend gains to 1290. EURUSD to see 1.1497

After conquering the 1270 handle, gold prices are pulling back ahead of another leg in the rally that could see gold test the 1290 levels. Meanwhile, EURUSD is posting a modest pullback ahead of a test to 1.149 - 1.150...

Gold rises to 1270 as expected

Gold prices moved to $1270 early today as noted in yesterday daily report. Price action in gold is likely to form a near-term top which could see a much-needed correction start...

EURUSD trades flat, Gold could correct to 1270

Lack of any clear fundamentals yesterday from the US or the Eurozone saw the markets trading flat for the most part. The yen got a boost with some strong rhetoric from Japan’s finance minister which now see USDJPY trading above 108...



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