Orbex - Forex Trading Library

Tomorrow might have the most important data from Europe for this week. As usual for the start of the month, we get final PMI figures from the whole of the shared economy. With ECB members talking quite a bit about raising rates by 50 basis…
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In the long term, the EURUSD currency pair seems to be forming a bearish corrective trend. This could take the form of a double zigzag consisting of cycle waves w-x-y. Most likely, in the middle of this month, the construction of the…
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Tomorrow, we get the first release of the much-anticipated May PMIs from China. Typically, PMIs are the first to show signs of an impending change in the economy. With the covid situation in China seen as slowly improving, there could be a…
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The internal USDCNH structure hints at a zigzag pattern Ⓐ-Ⓑ-Ⓒ. This zigzag today looks completed in two parts out of three. The last primary wave Ⓒ takes the form of an intermediate 5-wave impulse (1)-(2)-(3)-(4)-(5). The current…
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NZDUSD tests resistance The New Zealand dollar rallies over improved risk sentiment. The pair is grinding its way up to the key resistance (0.6560) on the daily chart. Short-term sellers have covered some positions, but renewed…
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EURUSD recovers as ECB turns hawkish The euro leaps to a four-week high against the US dollar as the ECB sends hawkish policy signals. ECB boss Christine Lagarde said interest rates could be back in positive territory by the end of…
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The GBPUSD has been moving higher. But a quick look at the dollar index suggests that it's largely due to a weaker greenback than a strength in the pound. The GBPEUR cross is largely flat over the last month. Generally negative news from…
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