The Week Ahead – Sell-Off Begins as Indices Slide!
Orbex Forex Trading blog » Forex Technical Analysis
by David Kindley
1d ago
AUDUSD retreats as RBA becomes dovish The Australian dollar weakened after a bullish run saw over 200 pips being added to the pair since last month. The pullback came despite further losses in the US Dollar, even as US yields traded in a mixed fashion. Speculation suggests that a rate cut by the Fed in September is fully anticipated, which the Aussie could cash in on. An unwavering dovish stance could push the Aussie towards 0.6600 with 0.6800 as a resistance. UKOIL struggles to break descending channel Brent crude remains in a bearish loop as concerns over future demands weigh heavy on pri ..read more
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Dow Jones – 19.07.2024
Orbex Forex Trading blog » Forex Technical Analysis
by Rami Abu-Draa
2d ago
The Dow managed to add more drop movement and tested the Intraday support at 40500-50. As we see over the chart, the  market still has a chance for another advance toward 42000, as long as prices keep above the support zone 40000-100. Below 40000 more of a drop will be expected toward the  39000 zone with Intraday support around 39600 SUPPORT RESISTANCE LEVEL1 40500-50 40800 LEVEL2 40000-100 41400 LEVEL3 39600 42000 Join our responsible trading community - Open your Orbex account now!  The post Dow Jones – 19.07.2024 appeared first on Orbex Forex Trading Bl ..read more
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Gold – 19.07.2024
Orbex Forex Trading blog » Forex Technical Analysis
by Rami Abu-Draa
2d ago
Gold managed to head for another correction movement as we predicted this week and managed to break below the 2430 support. As we see over the chart, Intraday Levels show supports around 2410 and 2388 where as long as the market holds trades above one of those supports, another rebound toward 2480 will be expected. Below 2388 the market could head for a further drop toward the 2315 zone while 2368 could push for some rebound before market continues to drop. SUPPORT RESISTANCE LEVEL1 2410 2430-35 LEVEL2 2388 2452 LEVEL3 2368 2480 Join our responsible trading community - Open y ..read more
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Crude Oil – 19.07.2024
Orbex Forex Trading blog » Forex Technical Analysis
by Rami Abu-Draa
2d ago
Crude Oil managed to hit another drop as the market pushed below the resistance of 82.50. As long as the market holds below 82.50 another drop wave toward 79.20-80.00 zone will be expected. whilst below this level more of a drop toward 77.50 and 76.00 may hit the market Above 83.60 more advance toward 85.50 and 87.20 will be expected SUPPORT RESISTANCE LEVEL1 79.25-80.00 82.50 LEVEL2 77.50 83.90 LEVEL3 76.00 85.50 Join our responsible trading community - Open your Orbex account now!  The post Crude Oil – 19.07.2024 appeared first on Orbex Forex Trading Blog ..read more
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USD/JPY – 19.07.2024
Orbex Forex Trading blog » Forex Technical Analysis
by Rami Abu-Draa
2d ago
USDJPY managed to rebound to retest the trend resistance zone again while the market is showing resistance around 157.90-158.15 as we see on the chart. As long as the market holds below this zone, another dip wave toward the second target 154.50 is still expected. Above 158.15 more advance will be expected with resistance at around 159.40-50 which may push for a correction. SUPPORT RESISTANCE LEVEL1 156.95 157.90-158.15 LEVEL2 155.35 159.40-50 LEVEL3 154.50 161.60 Join our responsible trading community - Open your Orbex account now!  The post USD/JPY – 19.07.2024 app ..read more
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GBP/USD – 19.07.2024
Orbex Forex Trading blog » Forex Technical Analysis
by Rami Abu-Draa
2d ago
GBPUSD managed to sustain  an advance and broke above the 1.2890 resistance. As we see over the chart, prices are facing first Intraday support around 1.2900 where as long as market holding above, more advance could hit the market with resistances laying at 1.3140 and 1.3300. Below 1.2900 more of a drop may hit the market with support at 1.2730 which may re-activate the advance wave again. SUPPORT RESISTANCE LEVEL1 1.2900 1.3040 LEVEL2 1.2730 1.3140 LEVEL3 1.2610 1.3300 Join our responsible trading community - Open your Orbex account now!  The post GBP/USD – 19 ..read more
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EUR/USD – 19.07.2024
Orbex Forex Trading blog » Forex Technical Analysis
by Rami Abu-Draa
2d ago
As we see on our previous chart, the Euro managed to break above 1.0915 which could set another advance course. As we see over the Daily chart, the market is now facing 1.0860 support level where as long as it holds above, the advance wave may sustain toward 1.1140 and above. Intraday levels will face resistance around the 1.0980-99 zone which may push for a correction before advancing toward 1.1140. Below 1.0860 more of a drop toward 1.0700 may hit the market. SUPPORT RESISTANCE LEVEL1 1.0860 1.0980-99 LEVEL2 1.0700 1.1140 LEVEL3 1.0600 1.1275 Join our responsible trading co ..read more
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Intraday Analysis 19.07.2024
Orbex Forex Trading blog » Forex Technical Analysis
by David Kindley
2d ago
XAUUSD continues higher Gold continues to grind higher to push for another record high after falling short at 2480. The gold price today remains bullish after hitting another record due to the Fed hinting at rate cuts sooner rather than later. N overbought RSI could see limited pullback, but all eyes are set for a test at 2500. Otherwise, a fall below the fresh support 2445 would open the door to 2440. USDCAD struggles at golden ratio The Canadian dollar softened after mixed  CPI data. The pair struggles to lift the 61.8% resistance area around the 1.3700 zone. The buy side is trying t ..read more
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USD/JPY – 18.07.2024
Orbex Forex Trading blog » Forex Technical Analysis
by Rami Abu-Draa
2d ago
As we see on our previous chart, the USDJPY pair managed to break below 157.60 rapidly and hit the first target of 155.70. Prices are now facing resistances around 156.75 and 157.40-60. If prices hold below one of those resistances, the downtrend pressure could sustain toward 154.50. Above 157.60 more of a move toward 159.40 could happen. SUPPORT RESISTANCE LEVEL1 155.50 156.75 LEVEL2 154.50 157.40-60 LEVEL3 153.50 159.40-60 Join our responsible trading community - Open your Orbex account now!  The post USD/JPY – 18.07.2024 appeared first on Orbex Forex Trading Blog ..read more
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Gold – 18.07.2024
Orbex Forex Trading blog » Forex Technical Analysis
by Rami Abu-Draa
2d ago
As we projected yesterday and as we see on our previous chart, Gold managed to test the resistance of 2480 and managed to hit a correction toward 2450. As we see on the chart, the market is still facing resistance around 2482. If prices hold below, then another correction to test the 2450 support could occur. Below 2450, the market will face a second support around 2430-35 which in turn could push for another advance wave. SUPPORT RESISTANCE LEVEL1 2450 2480 LEVEL2 2430 2500 LEVEL3 2392-95 2535 Join our responsible trading community - Open your Orbex account now!  Th ..read more
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