EURUSD finds support with ECB comments The euro began to advance as the ECB reiterated its stance on cutting rates. Unlike the Fed, which stated that if incoming data suggests sticky inflation, it will be appropriate to hold the current restrictive monetary policy stance for longer. This signalled that a rate cut was not happening this half of the year as economists wondered how much more strength the dollar has. Bullish sentiment could lift the euro to 1.0850 with 1.0600 as support. UKOIL retreats as demand uncertain Brent crude suffered a sell-off as inventories increased from the previou ..read more

Oil Falls as Gold Finds Support Gold is looking for another lift as traders expect a test at the recent high. With Oil falling, EIA stockpiles and ongoing geopolitical tensions have seen a dramatic sell-off in the black gold. Timestamps XAUUSD 00:50 WTI: 01:55   Test your trading strategy on forex and stocks with Orbex OPEN LIVE ACCOUNT The post Oil Falls as Gold Finds Support appeared first on Orbex Forex Trading Blog ..read more

NZDUSD tests support The New Zealand dollar attempted to claw back recent losses after bouncing at the mid-0.5800 area. The pair struggled against the greenback after progressive CPI and NFP data saw over 200 pips wiped off the currency. The rebound could come to a halt at 0.5950 at the 20-day SMA. The bulls’ failure to push back would make the Kiwi vulnerable to a broader sell off. A break below 0.5815 could attract momentum sellers and send the pair past the October low of 0.5770. USDCHF struggles to hit new high The US dollar broke out of consolidation as it failed to test the 0.9200 lev ..read more

The euro will look to claw back losses after over 500 pips have been wiped off the EURUSD pair this year. Cable was boosted by falling inflation data, which could mean the BoE acted sooner rather than later with their first-rate cut. Timestamps EURUSD 00:50 GBPUSD 01:45   Test your trading strategy on forex and stocks with Orbex OPEN LIVE ACCOUNT The post Is the Dollar Correcting? appeared first on Orbex Forex Trading Blog ..read more

Dow Jones 30 hits critical floor The Dow Jones 30 (US 30 ) tumbled another 100 points as prices break yet another critical support. A bearish MA deterred sentiment after the index fell from the 38000 level. Bears have flushed out the remaining buying interests as price action aims for the mid-37000 area. A lower break would clear the path for an extension towards 36500, the base from the previous bounce higher. On the upside, 39000 has become a firm target in case of a pullback. USDCAD breaks resistance The Canadian dollar retreated further as the greenback continued the dominance over its ..read more

Dow Corrects as Indices Tumble Indices took another step lower as hundreds of points are wiped off the Nasdaq, S&P and Dow. With rumours of a firm correction in place, is now the time where we move away from record highs? Timestamps #SPX500 00:45 #DOW 02:00 Test your trading strategy on forex and stocks with Orbex OPEN LIVE ACCOUNT The post Dow Corrects as Indices Tumble appeared first on Orbex Forex Trading Blog ..read more

Gold falls from record Gold falls as ongoing tensions first saw a fresh record above 2430. Then, a dramatic sell-off saw a dive towards 2300 as traders use the wait-and-see approach for the next move in the market. Successive breaks above the level of 2350 could see bulls re-enter the uptrend. 2400 is the first hurdle should the price bounce back. Otherwise, 2330 is the first support for the yellow metal. GBPUSD attempts to rebound Cable found some support after an aggressive dollar opened multi-month lows. The latest sell-off has found support at 1.2430, and a bounce above the immediate re ..read more

Gold & Oil Drop as Tensions Rise Gold jumped to a new record as tensions rose in the Middle East. Oil also dipped as traders looked to the long-term fallout of the recent crisis. With the yellow metal finding support, will we witness another record this week? Timestamps #XAUUSD 01:10 #WTI 02:20   Test your trading strategy on forex and stocks with Orbex OPEN LIVE ACCOUNT The post Gold & Oil Drop as Tensions Rise appeared first on Orbex Forex Trading Blog ..read more

The GER 40 dead cat bounce drops prices The GER 40 continues to decline as a dead cat bounce begins its formation. A move below 18000 indicates an acceleration to the downside. Bears are now looking to recover to the previous swing low of 17600 following a brief consolidation. 17900 is the first hurdle to break before a selloff can continue. If price action can swing higher, it will need a break above 18250, and 18600 will be in sight. AUDUSD breaks critical support The Australian dollar came under renewed selling pressure as the pair cracked the 0.6500 level. The price is looking to test t ..read more

EURUSD seeking support The US dollar rallied as annual inflation accelerated for a second straight month. A decisive break below 1.0800 has put the trend back on track as the pair moved over 100 pips at the beginning of April. A bearish extension could send the pair to 1.0700 in the upcoming days. A double dip in the oversold area on the RSI signalled a slowdown in momentum. A pullback above 1.0780 could trigger a correction with 1.0835 on the 20-day SMA as a backup level. XAGUSD hits yearly high Silver maintains the rally to the upside as it hits a 12-month high. While sentiment has become ..read more