Orbex - Forex Trading Library

GBPUSD bounces after government U-turn Sterling recouped losses after investors found relief in Britain’s reversal on tax cuts. The original plan of a largely unfunded fiscal package had triggered a flight to safety. But buyers of…
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OPEC+ decision to cut production by 2M bbl/day was the top range among analysts, and came as a bit of a surprise to the markets. Given that Russia has been missing its target by ~1.3M bbl/day, in practice, the cut is more along the lines of…
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The current chart of the USDCNH currency pair shows the development of a primary zigzag Ⓐ-Ⓑ-Ⓒ. The final bullish wave Ⓒ seems to take the form of an intermediate 5-wave impulse (1)-(2)-(3)-(4)-(5). It is possible that the last…
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USDCHF awaits breakout The US dollar bounces higher as traders bet on the Fed to stay on an aggressive tightening course. With the double top (0.9860) now out of the picture, the directional bias remains up as the greenback…
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Non-farm Payrolls in the US are expected to come in above “normal” once again. That would affirm the notion that the US employment situation remains "hot", and that the Fed can focus on getting inflation down. The total number of people…
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On the 1H timeframe, NZDUSD seems to be forming a bearish trend. This could take the form of a double zigzag w-x-y of the cycle degree. The current chart shows the structure of the final wave y, which assumes a primary zigzag Ⓐ-Ⓑ-Ⓒ.…
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USDCAD consolidates The Canadian dollar struggles over lacklustre August export data. A bearish RSI divergence showed a slowdown in the upward momentum while a double top at 1.3830 further suggested exhaustion in the current rally. The…
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In the last couple of days, the Euro has been drifting higher, back towards parity. It comes at a somewhat curious juncture, considering the context in the UK. Though, it should be pointed out that yesterday markets jumped higher on…
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