Orbex - Forex Trading Library

In the long term, the EURUSD pair eyes a bearish corrective trend. This could be a double zigzag consisting of cycle waves w-x-y. It is likely that at the time of writing, the construction of the actionary wave w has ended. This wave…
Read More

EURUSD breaks higher The euro surges over speculation of a bigger-than-expected 50 basis point hike on Thursday. After a brief venture below parity, the price action triggered a ‘buy-the-dips’ behaviour. A pop above 1.0190 eased the…
Read More

The BOE has a problem, and tomorrow's data could make things worse. As the market looks for guidance for where the pound could be heading, this means traders also have a problem. The BOE was the first of the major central banks to start…
Read More

The internal structure of the USDCNH pair hints at the primary zigzag pattern Ⓐ-Ⓑ-Ⓒ. This in the long term forms a cycle correction IV. The final primary wave Ⓒ takes the form of an intermediate 5-wave impulse (1)-(2)-(3)-(4)-(5).…
Read More

AUDUSD attempts to rebound The Australian dollar finds support from upbeat RBA meeting minutes. A break above 0.6790 has prompted some sellers to cover their bets, easing the downward pressure for now. The former resistance has turned…
Read More

Orbex Announces Q3 Market Outlook Webinar It’s been a turbulent first half of the year with surging inflation, central-bank tightening, an ongoing Russia/Ukraine conflict and runaway energy and food prices. The question on everyone’s…
Read More

Tomorrow we get the release of the final June CPI figures for the Euro Area. Since we already had the preliminary numbers at the start of the month, it's much less likely to catch the market by surprise. But, there could be a lot more…
Read More

With Bitcoin still consolidated, another test at the $22k is coming up again. Resistance here would confirm another move to the downside as analysts prepare for another $3k move. With Ethereum seemingly breaking out of its range, will…
Read More

The XAUUSD formation hints at a global correction pattern that takes the form of a cycle triple zigzag. The current chart shows the internal structure of the bearish cycle intervening wave x. This looks completed in the form of a…
Read More

NZDUSD tests supply zone The New Zealand dollar bounces higher after Q2 CPI exceeded expectations. Despite a choppy price action, general sentiment remains downbeat. Trend followers have been eager to sell into strength. The latest…
Read More