Orbex - Forex Trading Library

USDJPY holds steady The US dollar edged higher after November’s PPI beat estimates. Sentiment remains fragile after the price made a U-turn at 137.80, which was a brief support in the previous consolidation. Some buying interest has…
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EURUSD awaits double catalyst The euro consolidates as both central banks will fire their last salvos of the year. Inflation expectations remain high in the eurozone and bolster the likelihood of a 50 bp hike by the ECB. But market…
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PM Sunak is facing increasing challenges as the country wraps up the year. Strikes have been going on for months in different sectors, but they are getting particularly intense of late, as workers struggle with higher cost of living. But,…
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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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