Orbex - Forex Trading Library

To date, the USDJPY currency shows the formation of a global impulse trend consisting of cycle waves. The price has been rising in a cycle wave V for more than four months. Wave V takes the form of a 5-wave impulse ①-②-③-④-⑤ of…
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USDJPY struggles for bids The Japanese yen rallied after July’s CPI exceeded expectations. A lack of support from the 30-day moving average (136.50) has put the dollar bulls on the defensive. Then a drop below the demand zones around…
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The ECB raised rates more than the market was expecting, and won't be meeting again until September. But that doesn't mean we won't get pivotal data in the meantime. It's just that the market is more likely to react to the economic…
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USDCAD seems to be forming a long-term correction wave (4) of the intermediate degree. This is part of the global downward impulse Ⓒ of the primary degree. The correction wave (4) consists of minor waves W-X-Y-X-Z. Most likely, the…
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USDCHF tests critical floor The US dollar softened after the Fed raised rates by 75bp as expected. The medium-term direction still points to the upside but intraday price action may remain choppy. The pair has struggled to find bids…
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Tomorrow the US reports the first look at its Q2 GDP figures. There is already controversy even before the number is known. First, let's remember that we'll get the final number several weeks later. Following there can be some adjustments…
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The XAGUSD pair is forming a correction wave b of the cycle degree, which is part of a large zigzag. The correction b is a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of it have already been fully completed. The final…
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