Orbex - Forex Trading Library

Just like a few weeks ago, USDCAD formed a correction triple zigzag consisting of cycle waves w-x-y-x-z. The first four sub-waves w-x-y-x are fully completed. The final actionary sub-wave z is being built. The wave z takes the form…
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USDJPY grinds resistance The Japanese yen finds limited support from a rise in the December retail trade number. On the daily chart, last May’s low of 126.50 and the 20-day moving average (131.10) are compressing the price range and a…
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The BOE will be meeting on Thursday in a fraught environment that could lead to some shake ups in the market. The UK economy is teetering on recession, which makes it difficult for the central bank to fight inflation. Consumer prices have…
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The current SPX500 timeframe shows the final part of a large impulse consisting of sub-waves I-II-III-IV-V. We see a fully completed cycle correction IV as a primary triple zigzag. In the near future, the price could continue…
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AUDUSD tests major supply area The Australian dollar stays high as traders remain hopeful of a dovish Fed pivot. A tentative break above last August’s high of 0.7130 further fueled the bulls’ enthusiasm and could lay the foundation for…
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EURUSD rallies as ECB may remain firm The euro climbs as the ECB is catching up with its policy normalisation. The central bank is set to raise its key rate by 50 bps this week. The main driver of volatility will be its forward…
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With lingering questions on how much of an impact China's reopening will have on the global economy, there's likely to be increased focus on leading economic indicators from the country. Foremost among them are PMIs, since they are the…
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Gold price retreated from the $1,950 handle, which is the highest level since April 2022. Modest Dollar strength weighed on the yellow metal as the DXY found some support. Recession fears should limit THE losses for Gold and…
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AAPL shows the formation of a corrective trend, which takes the form of a a-b-c zigzag of the cycle degree. Complex correction b is currently under development, taking the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ. The actionary leg…
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