Orbex - Forex Trading Library

GBPUSD formation suggests the formation of a global corrective triple zigzag w-x-y-x-z trend. The final wave z most likely takes the form of a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. It is possible that a bearish trend is currently…
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NZDUSD seeks support The New Zealand dollar treads water ahead of the Fed's policy meeting. The pair hit resistance right under August’s high of 0.6460. Profit-taking from short-term buyers compounds selling from those who believe in a…
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Since early November, crude prices have been falling markedly. Brent is down around 20% in that period, and a couple of days ago even fell below the level at the start of the year. Not only have the gains from the war in Ukraine been…
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In the long term, the EURUSD currency is expected to form a bearish cycle impulse, which consists of five main sub-waves I-II-III-IV-V. Most likely, the cycle impulse sub-wave III was fully completed, after which the formation of a…
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USDJPY recoups some losses The Japanese yen rallies over better-than-expected GDP in Q3. The pair has found solid support at 134.20 near August’s lows. The latest rally is likely to be driven by sellers’ profit-taking, which means that…
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Yesterday, several major CEOs gave interviews to financial media in the context of a couple of major investor conferences. Their comments left a sour note for the markets, and tech stocks led a move lower in US equities which fed over into…
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Looking at the 1H timeframe, we see the development of the corrective wave b. This is part of the global zigzag. Correction b takes the form of a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four primary waves are completed, and the last wave Ⓩ…
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EURUSD hits resistance The US dollar edges higher as dovish incentives for the Fed fade amid robust data. The pair came under pressure at 1.0600 which is a supply zone from last June’s sell-off. The directional bias remains up in the…
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