Orbex - Forex Trading Library

The 1H timeframe shows a bearish trend is forming for BABA shares. Currently, the actionary wave y and the second small intervening wave x ended as double zigzags. The formation of the final actionary wave z will take the form of a…
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USDJPY pulls back The US dollar slipped after a slowdown in last month’s manufacturing PMI. On the daily chart, the pair continues to hold well above the psychological level of 130.00. A rally above 133.00 is an encouraging sign,…
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Over the weekend, key OPEC+ members announced voluntary production cuts ahead of the formal JMMC later today. The move sent oil prices skyrocketing, enough for some analysts to predict it heading back to triple digits. That might be a bit…
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In the long term, a large wave y can be built on the GBPJPY pair as a triple zigzag. The final sub-wave Ⓩ is formed and is similar to a double zigzag. Perhaps two sub-waves (W) and (X) are constructed. The last actionary wave (Y) is…
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EURUSD seeks support The US dollar may struggle over slower consumer spending growth in February. On the daily chart, after securing bids in the demand zone around 1.0500, a bullish MA cross is a sign of acceleration to the upside.…
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AUDUSD slips as RBA to pause tightening The Australian dollar drifts lower as a slowdown in consumption supports the case for a rate pause. Data show that households are feeling the pinch of tighter monetary policy with February’s…
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Monday is the first trading session of the new quarter and comes with a series of data points that could change the general mood of the market. March trading was dominated by the fallout of the collapse of four banks, which sent investors…
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In the long term, the GBPUSD pair suggests the construction of a correction wave IV of the cycle degree. Most likely, this correction takes the form of a triple zigzag of the primary degree Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of the…
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USDJPY breaks resistance The Japanese yen edged lower after a surprise rise in February’s unemployment rate. The pair is still trying to recover from the daily support at 130.00 after the February rally gave up most of its gains. A…
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Tomorrow could see the release of the data that could clear up some inconsistencies in US economic performance as well as provide some guidance for the Fed. Recent data trends have shown that the US consumer has remained surprisingly…
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