Orbex - Forex Trading Library

The current DXY structure suggests we are at the end of a global corrective trend. This is in the form of a triple zigzag pattern Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. It seems that the sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ have ended. In the near future, the price…
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USDJPY grinds supply zone The US dollar extended gains on the NFP momentum. On the daily chart, the 30-day SMA (131.10) has been acting as a tough resistance and its latest breach suggests that bearish sentiment has waned. A tentative…
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The big story over the weekend, at least as far as social media was concerned, was the Chinese balloon. The US claims it contained spy equipment, China says it was a weather balloon that went off course. The incident has plenty of political…
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In the long term, the USDCHF pair is building a primary corrective triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The final wave Ⓩ is under development and 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 goes into correction The US dollar soared after January’s jobs report far exceeded estimates. The pair came to a halt in the supply zone around 1.1000 from last April’s sell-off. A drop below the bullish engulfing candle at…
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AUDUSD rallies on increased risk appetite The Australian dollar rallies as the market remains risk-on. The US dollar’s softness may continue to provide tailwinds despite lacklustre domestic data. Australia’s retail sales saw its…
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It had seemed that the RBA was almost done with the rate hikes, as several indicators for the economy were looking shaky. Rising unemployment was cited often. Another factor is that a large number of home loans are due for renewal in a few…
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The current AMZN structure suggests a price decline, which could indicate the beginning of a bearish correction b in the long term. It can take the form of a primary zigzag Ⓐ-Ⓑ-Ⓒ. In the near future, prices will move lower in the…
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GBPUSD breaks support The pound fell back after the BoE hinted at a slower tightening as inflation seemed to have peaked. The medium-term outlook still supports the recovery theme after the pair bounced off 1.1900. The recent choppy…
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