Orbex - Forex Market Reviews - Page 2

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...

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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...

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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...


Gold eyes 1290, EURUSD looks to 1.149 as NFP looms

April jobs report will be the market mover today and could potentially dictate the short-term direction in prices. While gold, EURUSD and USDJPY have all recovered from their recent strong moves...

GBPUSD remains capped by resistance for a test to 1.430

Economic data from the US yesterday was broadly positive helping to strengthen the US dollar, but the markets pulled back towards the end of the day. Ahead of tomorrow's nonfarm payrolls report, markets could remain sideways...

Gold retreats from $1300, downside likely

Failure to hold on to the gains made in the early part of the week near the $1300 level has seen Gold prices continue to pull back following the doji pattern two days ago. A bearish continuation today could see further downside in Gold ahead of the US ADP payrolls report and Friday’s non-farm employment data...


Gold tests 1300 but closes in a doji

Gold prices posted a new high yesterday, briefly trading above $1300, last seen in January last year. However, the daily candlestick closed in a doji pattern which could see a near-term downside on a lower close today...

EURUSD aims for 1.14, Gold making an H&S pattern

The markets have been volatile over the past few hours with major central bank decisions. The Fed left rates unchanged and so did the RBNZ and the BoJ. While the yen is strengthening currently, there is scope for a pullback in the near term...

GBP at risk of GDP release. FOMC in focus

The British pound has edged strongly higher over the past few days but could under risk ahead of the initial GDP estimates for Q1, which could see some pullbacks across GBP crosses...


Markets flat as pull back continues

The markets were flat yesterday, but the modest pullback continued with EURUSD attempting to recover the levels near 1.130. The flat price action is likely to continue into today session ahead of the US data release which will include durable goods...

Short-term pullbacks on the horizon

Following Friday strong price action, the markets opened on a weaker note this morning with price gaps across the board. A potential pullback is likely to be taking place ahead of further continuation of the short-term trends...

Gold pulls back after a strong rally

Following the ECB meeting yesterday the euro gave back its initial gains, while precious metals pulled back strongly from their intraday rally. However, price action across the board still looks a bit volatile, but there is a possibility that the US dollar could see some upside in the near term...


ECB pressure could see EURUSD test 1.10

The US dollar managed to recover from its losses late yesterday pushing EURUSD lower. However, with the ECB meeting looming today, we could expect some volatility. Gold prices continue to consolidate near the 1250 levels...

Dollar slips but downside limited for now

The US dollar posted strong declines yesterday after US housing starts and building permits indicated a slowdown in the once strong housing sector. However, it is still too early to tell if the downside will prevail for the US dollar opening the possibility...

USDJPY consolidating into a triangle

Following lower oil prices yesterday, the markets opened on a weak note but soon recovered as USDJPY managed to pull back strongly after a brief stint near the 108 level. However, the unfolding triangle pattern on the 4-hour chart points to a possible dip back to 108...



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