Orbex - Forex Trading Library

DXY seems to be forming a triple zigzag pattern consisting of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Waves Ⓦ-Ⓧ-Ⓨ-Ⓧ have ended. The actionary wave Ⓨ is a double zigzag, and the second intervening wave Ⓧ is a standard zigzag. In the near future,…
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GBPUSD tests supply area The pound holds onto its gains after the BoE raised its rates by 25 bp as expected. On the daily chart, the pair is still in a horizontal consolidation between 1.1800 and 1.2450. Zooming into the hourly time…
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Please be advised that double profit offer mentioned in the article has now expired. At Orbex, we are thrilled to announce the launch of our Double Profit Limited Time Offer for all new clients registered under our FSC-regulated entity –…
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Traders are likely to be very interested in the upcoming flash PMIs from around the world because it's the first data since the outbreak of the banking chaos. A lot has been happening to the markets to push around sentiment, with currencies…
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On the 1H timeframe for AMZN shares, we can notice the formation of a bearish correction b. This takes the form of a zigzag of the primary degree Ⓐ-Ⓑ-Ⓒ. The depreciation of prices is likely in the final intermediate wave 5 of (5) of…
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EURGBP breaks resistance The pound struggles as a jump in February’s CPI may force the BoE to press for more rate hikes. The euro has bounced off this year’s low of 0.8730 and a subsequent surge above the key supply area around 0.8840…
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In the long term, the USDCHF pair can build a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The final wave Ⓩ is under development. The primary wave Ⓩ could end in the form of a standard intermediate zigzag (A)-(B)-(C). Wave (A) is a 5-wave bearish…
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EURUSD breaks higher The US dollar struggles as the market prepares for a 25-basis-point rate hike by the Fed. A pop above last week’s liquidation point at 1.0760 sends a strong bullish signal, prompting sellers to cover their bets. As…
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Expectations for what the Fed will do tomorrow have swung wildly in the last few days. Investors have been trying to recalibrate around the implications for the recent bank collapses. One of the main themes is that the increase in risk…
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Expectations for what the BOE will do when it meets tomorrow have been shifting quite a bit recently. Just last week, a poll of economists by Reuters showed a near universal agreement that the BOE would hike by 25bps. That was in the wake…
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