Orbex - Forex Trading Library

USDCAD breaks resistance The Canadian dollar softened as June’s retail sales decelerated. The pair previously came under pressure at 1.2980. A close above this supply zone equally a daily resistance would flush the remaining selling…
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EURUSD under pressure as recession looms The euro struggles over dimming growth outlooks. The recession risk is not negligible given the energy crisis in Europe, and growth data have pointed to a slowdown. However, a solid labour…
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Back in late June, we talked about spotting a bear market rally, and how the market tends to rise through summer. Since then, most stock markets around the world have risen, and the Nasdaq even managed to technically get back into a bull…
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The internal XAUUSD structure suggests a global correction pattern, which takes the form of a cycle triple zigzag. On the current chart, we see the structure of the bearish cycle intervening wave x. This looks completed in the form…
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EURUSD breaks demand zone The US dollar surged over fewer jobless claims last week. A fall below 1.0200 has weighed on sentiment, invalidating the latest bounce. The former support has turned into a resistance. The euro’s failure to…
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Retail sales have become a bellwether of the economy, and consequently for the movement of currencies. Additionally, they can swing market sentiment, particularly if it's a major economy that's reporting. Tomorrow there are two currency…
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The current structure of the AUDUSD pair indicates an a-b-c zigzag, which currently includes a complex bearish correction b. Wave b consists of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The last section of the chart shows the structure of the…
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NZDUSD breaks support The New Zealand dollar weakened despite a 50bp hike by the RBNZ as risk sentiment fades. The pair hit resistance at 0.6460 and has given up most of its recent gains. A drop below 0.6300 at the base of last week’s…
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