Orbex - Forex Trading Library

USDJPY bounces back The US dollar bounced after the Fed signalled another 50 bp hike by year-end despite a pause. The pair has consolidated its gains along the 20-day SMA (139.00) after rising above the key supply zone around 138.00.…
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In the long term, the AUDUSD pair forms a large correction b of the cycle degree. This has the structure of a primary double zigzag Ⓦ-Ⓧ-Ⓨ. Two parts, sub-waves (A)-(B), can end inside the actionary wave Ⓨ. The current chart shows the…
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There is pretty much a near unanimous consensus that the ECB will hike by 25bps tomorrow. But that doesn't mean there can't be an important surprise for the markets. The post rate press conference is likely to be the center of attention,…
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US Indices finished higher yesterday after CPI data showed a moderation in consumer inflation. Focus is now on the Fed and its monetary policy decision, with economists expecting a pause in interest rate hikes. However, will markets…
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As a few weeks ago, the formation of a global bearish trend in the form of a triple zigzag continues for USOIL Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. At the moment, the final part of this triple zigzag can be built, that is, the sub-wave Ⓩ. Perhaps it will have…
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GBPUSD breaks resistance The US dollar sank after slow inflation raised the chance of a pause in interest rate hikes from the Fed. The market mood has stayed positive despite a choppy consolidation under the recent top of 1.2680 over…
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Over three-quarters of traders expect the Fed to hold pat tomorrow. But that could radically change with the data coming out later today. Given the impact of inflation on the Fed's potential decision, the market might actually react more to…
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The NZDUSD pair is currently building a correction pattern. We can see a zigzag consisting of primary waves Ⓐ-Ⓑ-Ⓒ. The bearish correction Ⓑ is currently under development, its structure is similar to the standard zigzag (A)-(B)-(C).…
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