Orbex - Forex Trading Library

XAUUSD breaks resistance Bullion bounces higher as the US dollar falls across the board. The price previously came to a halt near the 30-day moving average (1870). But sentiment remains upbeat as long as the base of the previous rally…
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Despite having relatively low unemployment, there is a significant problem within the US labor market. The issue isn't directly the number of jobs created, as that has been well above the pre-pandemic average. Which means that once again…
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GBPUSD eyes the formation of a global corrective triple zigzag w-x-y-x-z. On the 1H timeframe, we see the final actionary wave z of the cycle degree. The wave z most likely takes the form of a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Perhaps…
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EURUSD hits resistance The US dollar recovers on upbeat manufacturing activity in May. The pair has met stiff selling pressure in the supply zone near 1.0800. A bearish RSI divergence suggests that the rally was losing steam. A drop…
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With the EU agreeing to phase out 90% of Russian oil imports by the end of 2022, spikes in the black gold were felt on both sides of the Atlantic. In addition, China's lockdown easing gave bulls another boost. However, a sell-off then…
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The Canadian dollar has been getting stronger lately, for a variety of factors. The two biggest ones are, of course, oil prices and BOC policy. But they intersect in a particular way which could leave the loonie a bit wobbly over the coming…
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USDCHF struggles to bounce The Swiss franc rallied on stronger-than-expected Q1 GDP. The pair has given up over half of its gains from the April rally as traders moved away from the greenback. Profit-taking and a lack of follow-up bids…
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