Orbex - Forex Trading Library

USDCHF attempts to bottom out The Swiss franc retreated after the SNB raised its policy interest rate by 50 basis points as expected. On the daily chart, the US counterpart is testing last April’s lows near 0.9220 after giving up all…
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After the cycle of major central banks this week, probably the last major data of the year is tomorrow's release of preliminary PMI figures. Because of the holidays at the end of the month, many data points have been brought forward by a…
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The current USDCAD timeframe shows the internal structure of a large correction pattern, similar to a cycle triple zigzag w-x-y-x-z. The final wave z takes the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ, where the sub-waves Ⓦ-Ⓧ have…
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EURUSD rallies along trend line The euro steadies ahead of the ECB interest decision today. On the daily chart, the pair is heading to last May’s high of 1.0800 after bouncing off 1.0300 on the 20-day moving average. Zooming into the…
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The consensus among economists is that the ECB will hike by another 50bps. But there is this unusual situation where the ECB has its rate decision right after the Fed (and members will be meeting at the same time as the BOE). As the US is…
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A closer look at the 1H timeframe shows that the NZDUSD market has already completed the formation of a cycle actionary wave y. In the last section of the chart, we can see the formation of a new bullish trend. The primary wave Ⓐ…
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XAUUSD breaks to higher range Gold popped higher following a deceleration in US CPI last month. After a rally above the August high of 1805, a brief consolidation saw support at 1765 right over the 20-day moving average. As the trading…
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Usually, we have all the key data points ahead of an FOMC decision to make a better evaluation of what could happen. But this time, the most important data for the Fed will be released during the first day of their meeting, later today.…
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