Orbex - Forex Trading Library

USDJPY rallies as BoJ might stay dovish The Japanese yen weakens as quantitative tightening remains a remote prospect. As its currency sank to a 32-year low, the Bank of Japan’s ultra-loose monetary policy has become increasingly at…
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Following the conclusion of the first day of the European Council meeting yesterday, it emerged that EU leaders had finally agreed on what could be called a price cap on Russian oil. It meant an about-face from Germany, which had opposed…
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For the AUDUSD currency pair, a bearish triple zigzag is formed in the long term Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ, where the primary wave Ⓩ is a simple descending zigzag (A)-(B)-(C). The intermediate wave (B) of this zigzag took the form of a simple bullish…
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USDJPY grinds rising trendline The Japanese yen slips over rumours of an intervention once again by the authorities. The pair has been climbing along a rising trendline after it broke above the previous high at 145.80. As the price…
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As fears of a recession start to settle in, commodity currencies have been on the backfoot despite offering comparably better real rates. Canada has been a particular example of this phenomenon, with its dollar weakening despite a more…
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The current Gold chart suggests the development of a large correction pattern, which takes the form of a cycle triple zigzag. The 1H timeframe shows the structure of the bearish cycle intervening wave x, which looks like a triple…
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GBPUSD seeks support The pound holds steady as Britain’s inflation rose to 10.1% in September. From the daily chart’s perspective, the pair is forming a flag-shaped pattern after its recent sharp slide. While Sterling clawed back some…
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Last Friday saw the unofficial start of Q3 earnings season. Over the next month, most major corporations around the world will provide updates to investors on profits and give an outlook for the rest of the year. CEO's will comment on the…
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We continue to analyze the situation on the SPX500 from the point of view of Elliott theory. It is assumed that the index forms a large impulse trend, which is marked by five sub-waves of the cycle degree I-II-III-IV-V. Perhaps the…
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USDCHF takes breather A regain in risk appetite keeps the US dollar in check. A drop below 0.9960 led intraday buyers to take profit. The price is taking a breather after it broke above the double top at 1.0040, a key resistance on the…
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