Orbex - Forex Trading Library

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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Following Fed Chair Powell's comments on Capitol Hill last Tuesday, there is a lot of expectation around the upcoming NFP figures. Powell essentially said that if economic data came in well above expectations, then there would be a 50bps…
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On the current chart for the GBPJPY pair, we see the final part of the triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ inside a large wave y. As part of the triple zigzag, the last sub-wave Ⓩ is formed. It seems to take the form of a double zigzag (W)-(X)-(Y).…
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