Orbex - Forex Trading Library

GBPUSD slides amid gilts firesale Sterling drifts lower amid a liquidity crunch in the UK’s gilt market. In an attempt to prevent the market’s collapse, the Bank of England has been forced to step in to buy back bonds owned by the…
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The sudden drop in the pound and the emergency intervention by the BOE is largely attributed to the release of Chancellor Kwarteng's "mini-budget", at least in the media. That gives the impression that the issue is exclusively a UK problem,…
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The BABA formation hints at a bearish corrective trend taking the form of a cycle triple zigzag w-x-y-x-z. At the moment, the market is in the final part of this pattern. We see a completed actionary wave y, which has the form of a…
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NZDUSD tests resistance The US dollar whipsawed as high inflation persisted in September. On the daily chart, the pair has taken a breather after the RSI went deeply into the oversold area. Sellers’ profit-taking would not be enough to…
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The world's second largest economy is in focus on Friday with the release of some key data at a crucial juncture before the CCP general meeting. There had been some expectations that the zero-Covid policy might be relaxed after the meeting.…
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GBPJPY seems to be forming a global corrective trend, taking the form of a double zigzag. On the 1H timeframe, the final actionary wave y of the cycle degree is visible. It seems that the wave y takes the form of a triple zigzag…
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AUDUSD struggles to bounce The Australian dollar struggles over downbeat inflation expectations. The downtrend accelerated after the aussie cut through the demand area around 0.6400. An oversold RSI caused a rebound as intraday traders…
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Overnight, cable rose and then fell well over 200 pips, then jumped over 100 pips before the market opened. That's typically a time when the pound is relatively quiet, with European markets closed. Comments from BOE's Bailey and press…
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