Orbex - Forex Trading Library

A closer look at the 1H timeframe shows a large corrective wave b which is part of the global zigzag. Correction b most likely takes the form of a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The final primary wave Ⓩ looks to be a double zigzag of the…
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GBPUSD keeps high ground Sterling rallies as red hot inflation in the UK calls for more interest rate hikes by the BoE. A break above September’s high of 1.1740 has prompted some bears to cover their positions, easing the downward…
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The AUDUSD has been trending higher for about a month at this point, but a substantial amount of that could be attributed to events outside of Australia. The latest data releases give reasons to expect a stronger Aussie, but the actions…
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In the long term, USOIL seems to be forming a primary wave ⑤. This takes the form of an intermediate ending diagonal. An intermediate correction (4) in the form of a minor double zigzag ended at 76.24. In the last section of the…
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EURUSD hits resistance The euro slipped after ECB policymakers cautioned about fast rate hikes. The vertical ascent is a sign of a short-squeeze against medium-term positions as the pair approaches the July high of 1.0480. Its breach…
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With all the focus on G20 and COP27, many European leaders have been out of the continent. News has been relatively sparse, which has allowed the shared currency to drift higher. In the last couple of weeks, it made a couple of runs at…
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The 1H timeframe of the DXY index shows the completion of the global corrective trend. This formed a triple zigzag consisting of five main cycle waves w-x-y-x-z. The market could begin forming the initial part of a new bearish triple…
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