Orbex - Forex Trading Library

USOIL suggests the formation of a triple zigzag pattern Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The primary waves Ⓦ-Ⓧ-Ⓨ seem to be fully completed. In the last section of the chart, we see the formation of an ascending primary intervening wave Ⓧ. This takes the…
Read More

EURUSD keeps high ground The US dollar struggles on speculation that the Fed is nearing the end of its tightening. The pair is holding on to its gains after breaking above May’s high of 1.0780. A bearish RSI divergence suggests a…
Read More

Last Friday, the UK reported a surprise growth in GDP. That was even a surprise for the normally overly optimistic government analysts, who were expecting the UK to remain in recession for the coming quarters. Of course it was just…
Read More

XAUUSD continues developing a large correction pattern that forms a cycle triple zigzag. There is a possibility that the cycle wave z also takes the form of a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. It is possible that the primary…
Read More

USDCHF hits resistance The US dollar softened after Fed policymakers cheered the news of easing inflation. On the daily chart, the pair has remained under pressure after a tentative break below last April’s low of 0.9200. The…
Read More

USDJPY falters over Japan’s rising inflation The Japanese yen extended gains as accelerating inflation may pressure the BoJ to act soon. One of the major themes of 2023 could be Japan finally normalising its monetary policy. Consumer…
Read More

Today is the unofficial start of the fourth quarter earnings season. Over the next month and a half, virtually all the listed companies in the world will issue their latest earnings reports. Not surprisingly, the markets tend to get quite a…
Read More

In the long term, the USDCNH pair is expected to form a large double zigzag consisting of cycle sub-waves w-x-y. The actionary wave w took the form of a standard zigzag. The bearish intervening wave x has ended. This wave contains a…
Read More