Forex Trading Blog and Market Insights

USOIL Bearish Zigzag to reach $62!

Roman Onegin May 5, 2023 100 0

USOIL is forming a large bearish trend taking the form of a triple zigzag. This consists of primary waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. It seems that the final sub-wave Ⓩ is a triple zigzag. It is possible that the primary wave Ⓩ will have the form of…
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Technical Analysis

Intraday Analysis 05.05.2023

Jing Ren May 5, 2023 71 0

USDCHF struggles to bounce The US dollar recoups some losses as traders reposition ahead of April’s jobs data. The recent bounce has again hit resistance at the psychological level of 0.9000, making this double top a major ceiling in…
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Fundamental Analysis

US April NFP Expected to Show Weaker Labor Market

Daniel John Grady May 4, 2023 62 0

The market's reaction to the NFP data coming out tomorrow might be a bit muted after the changes following the Fed's most recent meeting. Labor figures are important to the markets for two main reasons: Insight into how the economy is…
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Technical Analysis

GBPUSD Impulse Over, Correction Beginning!

Roman Onegin May 4, 2023 66 0

In the long term, the GBPUSD pair seems to be forming a correction cycle wave IV. This correction takes the form of a triple zigzag of the primary degree Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The final primary wave Ⓩ is currently under development. The…
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Technical Analysis

Intraday Analysis 04.05.2023

Jing Ren May 4, 2023 95 0

EURUSD grinds resistance The euro holds well as the ECB is expected to hike rates by 25 basis points. On the daily chart, the pair is still trying to hold on to its gains above this year’s high of 1.1000. The sideways action around…
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Technical Analysis

Join Our Masterclass Webinar: “Leverage Trading & Important Calculations” | 12-05-2023

Orbex May 4, 2023 78 0

Don’t miss your chance to attend another Orbex Trading Masterclass webinar: “Leverage Trading & Important Calculations” with leading industry expert and seasoned market analyst David Kindley. Register to join our live webinar on…
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Fundamental Analysis

ECB Expected to Hike at Least 25bps

Daniel John Grady May 3, 2023 75 0

The consensus is solidifying around an expectation that the ECB will hike by 25bps at the upcoming meeting, and signal that more hikes could be coming. The latest inflation data was in line with expectations and didn't change the outlook…
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Technical Analysis

Dow Drops 400 Points Before FOMC!

David Kindley May 3, 2023 95 0

US Indices fell sharply in yesterday’s trading as investors grew fearful that the banking crisis has not yet ended. Citigroup Bank of America dropped over 3% as traders now turn their attention to today’s FOMC. With interest rates…
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Technical Analysis

USDCHF Ending Diagonal Nears Completion

Roman Onegin May 3, 2023 85 0

In the long term, the USDCHF seems to be forming a triple zigzag pattern Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Only its final part, the wave Ⓩ, has not yet ended. The actionary leg Ⓩ is likely to end in the form of a standard intermediate zigzag (A)-(B)-(C).…
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Technical Analysis

Intraday Analysis – USD struggles to bounce 03-05-2023

Jing Ren May 3, 2023 90 0

AUDUSD tests key resistance The Australian dollar soared after a hawkish RBA pressed on with a surprise 25 basis-point rate hike. The pair jumped above the first supply area of 0.6660 and might give the bulls a fighting chance after…
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