Orbex - Forex Trading Library

Oil continued its slide to a 12-week low on fears of a global recession. A strong dollar coupled with increasing Covid-19 cases in China, saw the sell-off continue. Further lockdowns in the world's biggest oil importer could shake up…
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The structure of the USDCHF currency on the 1h timeframe shows the final part of a large triple zigzag consisting of cycle sub-waves w-x-y-x-z. Currently, there is a development of the actionary wave z of the cycle degree. The wave z…
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GBPUSD struggles to bounce Sterling weakens as the UK’s cabinet crisis threatens Boris Johnson’s premiership. A fall below June’s lows and the psychological level of 1.2000 suggests that there is more to the downside. The RSI’s repeated…
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In today’s advanced #ElliottWave analysis Gregor dives into the five most interesting opportunities for the week ahead! Watch how he analyses #equities, FX Majors, and Commodities and discover how he applies EW principles to come up with…
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Today, the pound was trading at 2-year lows against the dollar. It follows the surprise resignation of the Chancellor, Rishi Sunak, late yesterday, provoking a significant Cabinet reshuffle. The new Chancellor is former Secretary for…
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We talked about the USDJPY currency pair a few weeks ago. To date, the currency continues to form a global impulse trend. After the completion of the triangular pattern within the cycle correction IV, prices began to rise sharply in…
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AUDUSD turns south The Australian dollar tumbles despite the RBA’s 50 basis point rate hike as risk aversion still prevails. A previous drop below 0.6830 has put the pair back in the downturn. A bearish MA cross indicates an…
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Tomorrow we get the release of some key macro data that could influence the ECB's next policy decision. Although the central bank doesn't care about retail sales directly, consumer spending is an important component of understanding where…
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On the USDCAD chart, we see that the market is developing a long-term corrective wave (4) of the intermediate degree, which is part of the global downward impulse of the primary degree. Presumably, the corrective wave (4) is a side…
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EURUSD hovers above critical floor The euro softens as the market expects the ECB’s hike to be moderate. The pair is struggling to hold above the double bottom (1.0370) which is a critical support on the daily chart. A bearish breakout…
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