Orbex - Forex Trading Library

The current USDCAD structure indicates that the market is developing a long correction wave (4) of the intermediate degree. This is the penultimate part of a powerful downward primary impulse Ⓒ. The correction wave (4) consists of…
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NZDUSD seeks support The US dollar bounces as traders reposition ahead of today’s CPI. On the daily chart, a break above the first resistance at 0.6550 and a MA cross suggest that the market mood may have brightened up. However, a…
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What could turn out to be the most important data for dollar pairs will come out tomorrow. If there is a significant deviation from expectations, it could change the calculus about what the Fed will do at their meeting next week. The…
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USDCHF breaks resistance The US dollar recovered in anticipation of consumer price data on Friday. Medium-term sentiment remains upbeat and a break above 0.9760 may have put the greenback back on track as sellers rushed to cover their…
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Bitcoin fell back below $30,000, as the crypto continues to consolidate. Yesterday’s drop wiped out the previous three days of gains and ended Bitcoin’s second brief break above $31,000. So, will there be any sign of a recovery…
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Over the past couple of weeks, there was considerable speculation that the ECB might raise rates at its next meeting. But now that we're a day out from the event, expectations have moderated. It now appears the focus has shifted to July.…
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AUDUSD consolidates gains The Australian dollar bounced higher after the RBA raised its cash rate by 50 basis points. A break above May’s high at 0.7260 has prompted the bears to cover their positions, paving the way for a potential…
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Looking at the internal structure of XAGUSD, we can notice the development of a long-term corrective wave b of the cycle degree. Wave b, judging by the shape, is a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts have ended. Now…
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International trade was the original purpose of Forex markets, even though the importance for trade data has dwindled a bit in comparison to other factors. But it's still an important indicator for figuring out where currency pairs might be…
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