Orbex - Forex Trading Library

Twitter prices dropped on Friday after Elon Musk said he’s terminating the $44bn agreement to acquire the social media company. On the flip side, the news sent shares of Tesla up as much as 3%. So, what next for Twitter, as they…
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The internal structure hints at the formation of a bearish correction pattern. This takes the form of a cycle triple zigzag w-x-y-x-z. Currently, we see a completed actionary wave y. This has the form of a primary double zigzag…
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EURUSD attempts to rebound The US dollar softened over slower wage growth in June. After the euro broke below the daily support at 1.0370, the lack of bids has been driving it towards parity. A bullish RSI divergence shows a slowdown…
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EURUSD sinks over recession risk The euro hit a new two-decade low against the US dollar as the eurozone faces a greater risk of recession. Contrast in growth prospects in a high interest rate environment between the US and the…
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US President Biden is holding a meeting today to discuss a plan to lift tariffs imposed on certain goods imported from China. Although it's being billed as "reversing" the Trump Administration's tariffs, the reality is a little more…
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The current NZDUSD structure on the 1H timeframe suggests a completed cycle zigzag pattern. This consists of subwaves a-b-c. Cycle wave c is an ending diagonal consisting of primary sub-waves ①-②-③-④-⑤. Most likely, the formation of…
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USDCHF rises to resistance The US dollar strengthens as strong wage growth is expected. On the daily chart, the price’s wide swings seem to be forming a pennant consolidation pattern. A break above the supply zone around 0.9680 forced…
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This time around, NFP could rock the markets. Not so much because of monetary policy implications, but what they could say about the underlying economic situation. Talk of a recession keeps growing, and NFP is one of the first complete data…
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Oil continued its slide to a 12-week low on fears of a global recession. A strong dollar coupled with increasing Covid-19 cases in China, saw the sell-off continue. Further lockdowns in the world's biggest oil importer could shake up…
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The structure of the USDCHF currency on the 1h timeframe shows the final part of a large triple zigzag consisting of cycle sub-waves w-x-y-x-z. Currently, there is a development of the actionary wave z of the cycle degree. The wave z…
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