Orbex - Forex Trading Library

Despite the BOE raising rates four times in a row for the first time in modern history, the pound has lagged behind its trading partners. Given that the Fed is aggressively increasing rates, a lower GBPUSD is understandable. But is this…
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USOIL shows the development of the final part of the global impulse wave of the cycle degree. The final primary wave ⑤ takes the form of an intermediate impulse. In early April, an intermediate correction wave (4) ended in the form…
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USDJPY goes sideways The US dollar retreated as traders took profit ahead of inflation data. The pair has been struggling to hold onto its new high above 131.20. A break below the immediate support at 130.20 reveals the bulls’ caution…
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Tomorrow, we get the release of inflation rates from the two largest economies in the world. Both are set to provide differing perspectives on what is ultimately the same problem. Besides the usual focus on the potential impact of monetary…
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The current AUDUSD structure indicates that the market is forming a cycle zigzag a-b-c. This currently includes a bearish correction wave b and consists of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The final section of the chart shows the…
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USDCHF grinds rising trend line The US dollar continues upward over the interest rate differential. The pair’s steep climb over the past month pushed the RSI into an extremely overbought condition on the daily chart. A pullback may be…
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For the last month, the Euro has been getting weaker against its major trading partners. The EURUSD took a particularly strong move lower after the ECB failed to substantially change its monetary policy. Although it was a relatively strong…
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The USDCNH formation hints at a zigzag consisting of primary sub-waves Ⓐ-Ⓑ-Ⓒ. The last primary wave Ⓒ of this correction pattern takes the form of an intermediate 5-wave impulse (1)-(2)-(3)-(4)-(5). The current structure indicates…
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EURUSD consolidates The US dollar climbed after better-than-expected NFP in April. The euro is licking its wounds after it broke March 2020’s lows near 1.0640. The price is seeking support above March 2017’s lows (1.0500). The previous…
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EURUSD falls as ECB keeps waiting The euro struggles as the ECB remains divisive over interest rate hikes. The sharp contrast in policy between the Fed and the ECB has driven the euro to a five-year low. The Ukraine conflict on…
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