Orbex - Forex Trading Library

The GBPJPY pair seems to be forming a global corrective trend taking the form of a triple zigzag. On the 1H timeframe, the final actionary wave z of the cycle degree is underway. Wave z takes the form of a simple zigzag Ⓐ-Ⓑ-Ⓒ of the…
Read More

XAUUSD tests key support Gold struggles to bounce higher as the US dollar recovers across the board. The price’s failure to hold above the demand zone around 1818 reveals a lack of commitment from the long side. Instead, rebounds have…
Read More

As we are waiting for the ECB to make its move that would be expected to strengthen the Euro, tomorrow we get some key data that could provide some outline for what kind of policy we could expect. Traditional monetary policy action is more…
Read More

USOIL suggests the development of the final part of the global impulse wave a of the cycle degree. The 1H timeframe shows the markup of the final primary wave ⑤. This takes the form of an intermediate impulse. In early April, an…
Read More

AUDUSD struggles to bounce The Australian dollar recoups losses over upbeat retail sales in May. The price action has been looking to hold on to its recent gains above 0.6850. An oversold RSI attracted some buying interest, but buyers…
Read More

Bitcoin’s recent recovery back above the psychological level of $20,000 was a sign of a rebound. However, since then a strong consolidation has occurred, with investors expecting an imminent breakout. With Rising interest rates…
Read More

Tomorrow, OPEC will hold its monthly Joint Ministerial Committee meeting, which will issue recommendations for the cartel's production starting in August. Typically, the full OPEC meeting the next day simply adopts the recommendations of…
Read More

The GBPUSD pair seems to be forming a global corrective triple zigzag w-x-y-x-z. On the 1H timeframe, we see the final actionary wave z of the cycle degree. The wave z most likely takes the form of a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.…
Read More

EURUSD consolidates gains The US dollar treads water over lower inflation expectations. The euro gained traction after it bounced off the key support (1.0350) on the daily chart. A pop above 1.0500 has prompted short-term sellers to…
Read More