Orbex - Forex Trading Library

Analysts are coalescing around the idea that the BOC will hike by a quarter percentage point (or "one hike" as it used to be) at the next meeting. But given the connection between Canada and the US in economic terms, some traders might be…
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XAUUSD seems to form a large correction pattern forming a cycle triple zigzag. The 1-hour timeframe shows the final part of the completed cycle intervening wave x. This is a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. There is a possibility that the…
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GBPUSD pulls back The US dollar held its ground after service PMI remained resilient. The pair is striving to hold onto its gains after breaking above August’s high of 1.2300. As more bears cover their positions, they may switch sides…
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For over a month now, gold prices have been trending higher, gaining over 10% since the start of November. Naturally this poses the question of whether a new peak is coming, or will the precious metal keep moving up through next year. The…
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The precious metal reached a 3-month high on Friday as the NFP failed to fade risk appetite. Investors are awaiting further guidance as the ISM Services data follows up today. The DXY is looking to test the previous week’s low as…
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The hourly chart of the DXY index shows the end of the global corrective trend. This took the form of a triple zigzag consisting of five main cycle waves w-x-y-x-z. Now, we look towards the beginning of a major bearish trend. This…
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USDCHF remains under pressure The US dollar jumped over strong wage growth in November. A drop below the recent low of 0.9370 further weighed on sentiment by invalidating the double bottom between August and November. As the latest…
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USDCAD holds as BoC may go dovish The Canadian dollar slips as the Bank of Canada may deliver smaller-sized interest rate hikes. While inflation has remained high for October, signs of peaking could open the door to a slower pace of…
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Central banks are the ones who print money in an economy. So, they can't run out of money, right? They just print more. If only central banking were that simple. So, this is a little excursion into an obscure part of quantitative easing…
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