Orbex - Forex Trading Library

We talked about the USDCHF pair more than a month ago as it continues to build a triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag pattern. The final actionary leg Ⓩ is likely to end in the form of a standard intermediate zigzag (A)-(B)-(C). The impulse wave…
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GBPUSD seeks support Cable struggles as a flare up inflation last month sows doubt in the UK economy. A bearish RSI divergence showed a deceleration in the rally and a drop below 1.2770 prompted short-term buyers to bail out. May’s…
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Fed Chair Jerome Powell has some explanation to do. He will be on Capitol Hill the next couple of days, giving a presentation to both chambers of Congress. Typically, however, it's the presentation before the House which moves the markets,…
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In the long term, the USDCNH pair could form a bearish double zigzag of the primary degree Ⓦ-Ⓧ-Ⓨ. On the current chart, we see the internal structure of the intervening wave Ⓧ. Most likely, it takes the form of an intermediate double…
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AUDUSD pulls back The Australian dollar fell after dovish RBA meeting minutes showed a pause to rate hikes was considered. As the pair hit a four-month high at 0.6900, a bearish RSI divergence showed a loss of momentum in the climb,…
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The consensus that the BOE will hike at the meeting on Thursday is pretty near unanimous. Where rates go after that is subject to intense debate, with the market and economists (and, potentially, the BOE) having different views. All of this…
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The USDJPY currency seems to be forming a bearish trend. Most likely, the trend takes the form of a double zigzag Ⓦ-Ⓧ-Ⓨ, within which the sub-waves Ⓦ-Ⓧ are completed. The wave Ⓧ is a double zigzag consisting of intermediate sub-waves…
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EURUSD sees limited pullback The euro retreated after the ECB's chief economist tempered expectations of more hikes after the summer. The pair is grinding the support-turned-resistance of 1.0960 from the start of the mid-May sell-off.…
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