Orbex - Forex Trading Library

USDJPY breaks support The yen bounces across the board over concerns of a potential BoJ intervention amid an oversold market. The pair cut through the round number of 142.00 which sat at the confluence of the 30-day SMA and a…
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As the BOE keeps hiking rates, it could be running out of room to keep tightening. Inflation still more than quadruples the target rate despite hiking for over a year. Now the worry is that the tightening can push the UK into a recession.…
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EURUSD tests recent peak The US dollar plunged after job growth slowed in June. The pair previously found support over 1.0840 at the base of a bullish momentum back in mid-June, which coincided with the 30-day SMA. The directional bias…
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USDCAD consolidates ahead of BoC hike The Canadian dollar pulled back as the market underpriced the possibility of a rate hike. However, recent economic data have left the door open for the BoC to lift interest rates at the upcoming…
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Earlier this week, China announced export curbs on two key metals used in the chip and solar industries. The direct impact on foreign exchange markets wasn't immediately evident, but typically trade and geopolitical issues tend to be…
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NZDUSD breaks lower The US dollar jumped after a strong ADP employment reading. A rally above the previous swing high of 0.6200 has prompted some sellers to trim their exposure and eased the pressure on the kiwi. 0.6220 is the key…
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Economists are more optimistic about how many jobs were created in the US last month. But, that might be an over-correction from consistently underestimating the resilience of the labor market this year. But, there are other factors that…
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USDJPY seeks support The US dollar steadies as minutes from the Fed policy meeting cement expectations of another rate hike. The pair has hit resistance at 145.00 from last November’s liquidation. A bearish RSI divergence suggests a…
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The jobs numbers from Canada are typically overshadowed by the NFP data for the US that comes out at the same time. But, given the context of what's been happening in Canada lately, the employment figures could shake up expectations for the…
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