Orbex - Forex Trading Library

EURUSD breaks resistance The US dollar retreats as the market awaits Fed Chair Jerome Powell’s testimony before Congress. A break above the first resistance of 1.0640 eased some of the downward pressure. Then the bulls managed…
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The RBA is set to meet tonight (or tomorrow, depending on where you're located in the world), and raise rates by another 25bps to 3.60%. That is according to the latest surveys of economists which show near-universal agreement with the…
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In the long term, XAUUSD looks at forming a double zigzag pattern. This consists of sub-waves Ⓦ-Ⓧ-Ⓨ inside the cycle wave z. The first two sub-waves Ⓦ-Ⓧ have already ended, and wave Ⓨ is under development. Perhaps the wave Ⓨ takes…
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GBPUSD defends major floor The pound bounces higher thanks to upbeat services PMI in February. On the daily chart, the pair is still striving to hold above January’s low of 1.1840 which is a critical floor to keep the price afloat in…
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USDJPY rallies as BoJ may stay dovish The Japanese yen weakens as the upcoming BoJ team pledges to continue monetary easing. New governor nominee Kazuo Ueda has so far brushed aside any talk of an immediate change to the policy,…
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Sunday marks the start of the annual, week-long National People's Congress (NPC) in China. That's when all the country's leaders get together to lay out key national policies for the rest of the year and beyond. This will be the first time…
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XAGUSD suggests the formation of a global triple zigzag consisting of cycle waves w-x-y-x-z. On the current chart, we can see the internal structure of the second intervening wave x. This could soon end and be a triple zigzag of…
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USDJPY bounces back The Japanese yen recouped some losses after a drop in the January unemployment rate. A relentless rally shows that the US dollar’s recovery is still going strong. A brief pullback has met strong buying…
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The strong PMI data from China on Wednesday gave markets a substantial push as investors took on more risk. But there were two key data points that changed the narrative outside of China. The first was the release of German CPI, which came…
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