Orbex - Forex Trading Library

USDCNH seems to be forming a double zigzag of the cycle degree w-x-y. The first large wave w is completed as a standard zigzag. The bearish intervening wave x could also be fully constructed. At the moment it looks completed as a…
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USDCAD gives up gains The Canadian dollar recouped losses after November’s GDP beat expectations. On the daily chart, the pair is still in a flag consolidation. A break above the previous resistance of 1.3400 eased some pressure…
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The overwhelming consensus is that the Fed will hike by another 25bps at the conclusion of its meeting tomorrow. With such strong agreement among traders and economists, it's unlikely the rate decision itself will move the markets. That is,…
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Just like a few weeks ago, USDCAD formed a correction triple zigzag consisting of cycle waves w-x-y-x-z. The first four sub-waves w-x-y-x are fully completed. The final actionary sub-wave z is being built. The wave z takes the form…
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USDJPY grinds resistance The Japanese yen finds limited support from a rise in the December retail trade number. On the daily chart, last May’s low of 126.50 and the 20-day moving average (131.10) are compressing the price range and a…
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The BOE will be meeting on Thursday in a fraught environment that could lead to some shake ups in the market. The UK economy is teetering on recession, which makes it difficult for the central bank to fight inflation. Consumer prices have…
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The current SPX500 timeframe shows the final part of a large impulse consisting of sub-waves I-II-III-IV-V. We see a fully completed cycle correction IV as a primary triple zigzag. In the near future, the price could continue…
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AUDUSD tests major supply area The Australian dollar stays high as traders remain hopeful of a dovish Fed pivot. A tentative break above last August’s high of 0.7130 further fueled the bulls’ enthusiasm and could lay the foundation for…
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