Orbex - Forex Trading Library

The internal structure of the USDCNH pair hints at the primary zigzag pattern Ⓐ-Ⓑ-Ⓒ. In the long term this forms a cycle correction IV. The final primary wave Ⓒ takes the form of an intermediate 5-wave impulse (1)-(2)-(3)-(4)-(5).…
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GBPUSD consolidates gains Sterling edged higher after the UK’s CPI accelerated to 9.1% in May. A previous surge above 1.2200 prompted sellers to trim their positions, reducing the downward pressure. The former supply zone has turned…
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The Dow Jones is starting to retrace after a brief bull rally yesterday. Along with the S&P and Nasdaq, the US indices seem to be trapped in an elongated bear market. With Fed chief Jerome Powell set to testify before Congress…
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Tomorrow's series of preliminary or flash PMIs are likely to set the tone for market sentiment for the rest of the month. With inflation still on the rise around the globe, the impact is first felt by purchasing managers. If PMIs continue…
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AMZN shares are forming a zigzag consisting of sub-waves a-b-c of the cycle degree. The first major wave a is a bullish 5-wave impulse. In the last section of the chart, we have observed a decrease in the price. This could indicate…
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EURUSD attempts to rebound The US dollar finds support from higher Treasury yields. The pair saw strong support near May’s lows (1.0380). A surge above 1.0500 prompted short-term sellers to cover and paved the way for a rebound. This…
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The USDJPY has been trading relatively flat, just under the 135.00 level for a couple of weeks now. There was a drop, but traders pushed it right back to below that strong resistance level. The monetary policy has been mostly driving the…
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The internal structure of AAPL shares hints at the development of the primary fifth wave. This takes the form of an ending diagonal (1)-(2)-(3)-(4)-(5) of the intermediate degree. Wave ⑤ is the final wave in the cycle impulse a. Most…
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