Orbex - Forex Trading Library

GBPUSD seeks support The pound underperforms as market participants remain worried about the UK’s economy in 2023. The pair continues to drift lower due to buyers taking profit after a two-month long rally and new sellers getting into…
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Through at least the early part of this year, the ECB is expected to go against the trend of most other major central banks. The BOE and Fed are expected to continue to slow the pace of rate hikes as inflation comes down, the economy comes…
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GBPJPY suggests the construction of the final part of a large correction pattern – a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. That is, an actionary wave Ⓩ is formed. It seems to take the form of an intermediate double zigzag (W)-(X)-(Y). The…
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USDJPY tests critical floor The Japanese yen rallies as the BOJ considers raising its inflation forecast. The dollars rebound came to a halt at a previous low (134.50) from early December, which has turned into resistance. Sentiment…
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EURUSD awaits new catalyst The euro finds support from an assertive ECB. For the most traded currency pair, the new year’s theme would be how fast the ECB will close the monetary policy gap. Traders have shrugged off concerns about…
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As a hedge against uncertainty, gold is expected to have quite an active year in 2023. There are many risk events already on the calendar for the next 12 months, and then we have to consider the unforeseeable events that could shake up…
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The current USDJPY structure suggests that the formation of a global cycle impulse could have been completed not so long ago. Then the fall of the exchange rate and the formation of a new bearish trend began. It is assumed that a…
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USDCHF tests major support The US dollar slipped after data showed a rise in initial claims for unemployment benefits. The price is testing last April’s low near 0.9200 after giving up all the gains from the breakout rally eight months…
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The yen had a pretty active year, and it looks like next year is shaping up to have plenty of volatility as well. In 2022, most of the year was dominated by a weakening yen as central banks around the world raised rates, while the BOJ kept…
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Three weeks ago, we talked about the GBPUSD pair, according to which a global corrective trend is forming – a triple zigzag w-x-y-x-z, as part of which the market builds the final actionary wave z of the cycle degree. The wave z…
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