Orbex - Forex Trading Library

USDCHF attempts to bounce The US dollar remains supported by Powell 's comment that rates will stay higher for a while. The choppy action on the daily chart is a sign of compression as both sides wrestle for the next major move. A…
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Yesterday, markets see-sawed while Powell was speaking at the Economic Club in Washington. Risk appetite fluctuated, and the dollar shifted. Less noticed, but perhaps more indicative of the longer-term trends for the dollar and other…
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It is assumed that a triple zigzag pattern is formed for gold in the long term. This consists of sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Perhaps the first two sub-waves Ⓦ-Ⓧ have ended, and the third sub-wave Ⓨ is under development. The internal…
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AUDUSD seeks support The Australian dollar recovered after a hawkish RBA hinted at further hikes. A drop below the daily support of 0.6870 has dented the optimism in the short-term. The four-month long rally could be in for a bit of…
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Traditionally, the trade balance has been one of the major drivers in forex. But it has been largely overshadowed lately with action by central banks. That doesn't mean that capital flows aren't defined by the trade balance. And trade can…
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The current DXY structure suggests we are at the end of a global corrective trend. This is in the form of a triple zigzag pattern Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. It seems that the sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ have ended. In the near future, the price…
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USDJPY grinds supply zone The US dollar extended gains on the NFP momentum. On the daily chart, the 30-day SMA (131.10) has been acting as a tough resistance and its latest breach suggests that bearish sentiment has waned. A tentative…
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The big story over the weekend, at least as far as social media was concerned, was the Chinese balloon. The US claims it contained spy equipment, China says it was a weather balloon that went off course. The incident has plenty of political…
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