Orbex - Forex Trading Library

USDJPY softens on potential BOJ shift next year The Japanese yen recovers as the market raises their expectations of a policy shift next year. The BOJ’s last meeting of the year is unlikely to be eventful as Governor Kuroda has…
Read More

Stocks are down substantially this year, even including indices which had a bit of a rally through the last month or so. There has been a split in trend, which is worthy of note. The DJIA moved higher, while the Nasdaq remained relatively…
Read More

The current chart of BABA shares hints at the construction of a bearish trend taking the form of a cycle triple zigzag w-x-y-x-z. We see a completed actionary wave y, which is a primary double zigzag Ⓦ-Ⓧ-Ⓨ. In addition, a second…
Read More

USDCHF attempts to bottom out The Swiss franc retreated after the SNB raised its policy interest rate by 50 basis points as expected. On the daily chart, the US counterpart is testing last April’s lows near 0.9220 after giving up all…
Read More

After the cycle of major central banks this week, probably the last major data of the year is tomorrow's release of preliminary PMI figures. Because of the holidays at the end of the month, many data points have been brought forward by a…
Read More

The current USDCAD timeframe shows the internal structure of a large correction pattern, similar to a cycle triple zigzag w-x-y-x-z. The final wave z takes the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ, where the sub-waves Ⓦ-Ⓧ have…
Read More

EURUSD rallies along trend line The euro steadies ahead of the ECB interest decision today. On the daily chart, the pair is heading to last May’s high of 1.0800 after bouncing off 1.0300 on the 20-day moving average. Zooming into the…
Read More

The consensus among economists is that the ECB will hike by another 50bps. But there is this unusual situation where the ECB has its rate decision right after the Fed (and members will be meeting at the same time as the BOE). As the US is…
Read More