Orbex - Forex Trading Library

EURUSD on corrective path The US dollar jumped as traders made room for the Fed minutes later in the day. The euro’s consolidation at the end of December has failed to achieve a new high. A sharp drop below the demand zone…
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The Fed has raised rates 7 times in a row, and the consensus among analysts is that it will do so again at the end of the month. At the moment, the majority of economics expect a 25bps hike, which would continue the "leveling off" trend…
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Looking at the 1H timeframe for the NZDUSD currency pair, we see that the market has already completed the formation of a cycle actionary wave y. In the last section of the chart, we can see the formation of a new bullish trend.…
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GBPUSD seeks support The pound underperforms as market participants remain worried about the UK’s economy in 2023. The pair continues to drift lower due to buyers taking profit after a two-month long rally and new sellers getting into…
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Through at least the early part of this year, the ECB is expected to go against the trend of most other major central banks. The BOE and Fed are expected to continue to slow the pace of rate hikes as inflation comes down, the economy comes…
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GBPJPY suggests the construction of the final part of a large correction pattern – a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. That is, an actionary wave Ⓩ is formed. It seems to take the form of an intermediate double zigzag (W)-(X)-(Y). The…
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USDJPY tests critical floor The Japanese yen rallies as the BOJ considers raising its inflation forecast. The dollars rebound came to a halt at a previous low (134.50) from early December, which has turned into resistance. Sentiment…
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EURUSD awaits new catalyst The euro finds support from an assertive ECB. For the most traded currency pair, the new year’s theme would be how fast the ECB will close the monetary policy gap. Traders have shrugged off concerns about…
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As a hedge against uncertainty, gold is expected to have quite an active year in 2023. There are many risk events already on the calendar for the next 12 months, and then we have to consider the unforeseeable events that could shake up…
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