Orbex - Forex Trading Library

For traders looking to see where the markets might be headed for the rest of the month, tomorrow's data might be the sentiment catalyst. PMIs are the freshest data, and they are especially relevant now as investors grade the impact of…
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The USDCNH formation shows the primary zigzag pattern Ⓐ-Ⓑ-Ⓒ. In the long term this seems to be forming a cycle correction IV. The last primary wave Ⓒ takes the form of an intermediate 5-wave impulse (1)-(2)-(3)-(4)-(5). The final…
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USDCAD breaks resistance The Canadian dollar softened as June’s retail sales decelerated. The pair previously came under pressure at 1.2980. A close above this supply zone equally a daily resistance would flush the remaining selling…
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EURUSD under pressure as recession looms The euro struggles over dimming growth outlooks. The recession risk is not negligible given the energy crisis in Europe, and growth data have pointed to a slowdown. However, a solid labour…
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Back in late June, we talked about spotting a bear market rally, and how the market tends to rise through summer. Since then, most stock markets around the world have risen, and the Nasdaq even managed to technically get back into a bull…
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The internal XAUUSD structure suggests a global correction pattern, which takes the form of a cycle triple zigzag. On the current chart, we see the structure of the bearish cycle intervening wave x. This looks completed in the form…
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EURUSD breaks demand zone The US dollar surged over fewer jobless claims last week. A fall below 1.0200 has weighed on sentiment, invalidating the latest bounce. The former support has turned into a resistance. The euro’s failure to…
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