Orbex - Forex Trading Library

Gold got a boost following the Fed's rate decision and managed to poke above $2,000/oz briefly on Thursday. But resistance seems to have been sufficiently strong to keep price action below that level. Given the latest turmoil in the markets…
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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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