Orbex - Forex Trading Library

GBPJPY seems to be forming a large corrective triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ pattern. The final wave Ⓩ could take the form of an intermediate double zigzag (W)-(X)-(Y). It is assumed that two sub-waves (W) and (X) have already been formed.…
Read More

EURUSD struggles to bounce back The US dollar jumped after January’s inflation did not slow down as fast as expected. The pair came to rest at the start of the breakout rally in early January (1.0660). The top of a previously faded…
Read More

There are a lot of reasons for investors to seek safe havens, particularly recently. But gold has struggled to reach the $1,900/oz level. Although it could make it that high eventually, it's still notable that it's taking so long. There are…
Read More

The current USDJPY structure shows the formation of a bearish trend. This takes the form of a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ of the primary degree. It is possible that the sub-waves Ⓦ-Ⓧ-Ⓨ have ended. However, the second intervening wave Ⓧ…
Read More

USDJPY tests resistance The Japanese yen struggled as the Q4 GDP fell short of expectations. The pair’s latest retracement found support over the psychological level of 130.00 which coincides with a resistance level from a previous…
Read More

Following the last FOMC meeting, it seemed the Fed was quite happy with how much inflation was coming down. The rhetoric shifted from "keep raising" to "only a couple more hikes left". That was a dovish shift that was welcomed by the…
Read More

In the long run, GBPUSD seems to be forming a global triple zigzag w-x-y-x-z. The final wave z most likely takes the form of a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Now the focus in on the development of the primary wave Ⓩ. It can take…
Read More

USDCAD to test major support The Canadian dollar surged after a blowout jobs report fuelled speculation about further tightening. The recent consolidation has failed to secure a foothold above 1.3370, which has turned into a fresh…
Read More