Orbex - Forex Trading Library

There is a high probability that the AUDUSD pair is forming a global correction wave b of the cycle degree. This could soon end in the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ. Impulse wave (A) and intermediate correction wave (B) as a…
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USDJPY struggles for support The US dollar grinds lower as efforts to avert a banking crisis after the collapse of SVB cut short rate hike expectations. December’s highs around 138.00 have proven to be a tough hurdle to lift. A…
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It seems that the major crisis from SVB has been averted for now, but there are so many lingering questions that it will likely be an issue for the markets for a while. And then there is the potential that SVB exposed underlying issues in…
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In the long term, BABA seems to be forming a bearish trend. On the current chart, the completed actionary wave y and the second small intervening wave x are double zigzags. At the time of writing, the formation of the final…
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USDCHF breaks lower The US dollar tumbled after February’s jobs data showed slower wage growth. A previous fall below 0.9350 was a sign that the buy side had difficulty in holding on to their gains. Coming off the newly formed double…
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EURUSD consolidates before ECB hike The euro steadies as another 50 bp rate hike seems to be a done deal this week. Markets are wagering a full percentage point from the ECB in the coming months. According to an ECB survey, inflation…
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US stock indices dropped substantially yesterday, led by the Nasdaq and prompting a general sell-off across the world. A ~2% drop in the stock market isn't all that unusual, but this time it was caused by a massive drop in the banking…
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The NZDUSD currency pair could form a correction zigzag pattern Ⓐ-Ⓑ-Ⓒ in the long term. The first impulse wave Ⓐ is completed. A bearish correction Ⓑ is under development with the internal structure being similar to a zigzag…
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USDJPY bounces back The Japanese yen weakened as the BoJ kept its ultra-loose policy untouched. On the daily chart, the pair has met stiff selling pressure at December’s highs around 138.00. The confluence of the previous swing low of…
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