Orbex - Forex Trading Library

AUDUSD turns south The Australian dollar tumbles despite the RBA’s 50 basis point rate hike as risk aversion still prevails. A previous drop below 0.6830 has put the pair back in the downturn. A bearish MA cross indicates an…
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Tomorrow we get the release of some key macro data that could influence the ECB's next policy decision. Although the central bank doesn't care about retail sales directly, consumer spending is an important component of understanding where…
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On the USDCAD chart, we see that the market is developing a long-term corrective wave (4) of the intermediate degree, which is part of the global downward impulse of the primary degree. Presumably, the corrective wave (4) is a side…
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EURUSD hovers above critical floor The euro softens as the market expects the ECB’s hike to be moderate. The pair is struggling to hold above the double bottom (1.0370) which is a critical support on the daily chart. A bearish breakout…
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The RBA meets tomorrow to decide what to do with interest rates. And, once again, there is considerable uncertainty over how much the rate hike will be. A survey of Australian economists found that 91% expected a rate hike this time around.…
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Bitcoin remains in a downtrend as prices now look for the 19k handle. The cryptocurrency looks to cap off its biggest quarterly drop in more than a decade. Analysts did presume a bottom had formed at the 20k region, but a slide lower…
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XAGUSD seems to be forming a correction wave b of the cycle degree, which is part of a large zigzag. Wave b, judging by the shape, is a primary triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of it have ended. Most likely, the wave…
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EURGBP seeks support Sterling struggles over the UK's large current account deficit. A surge from 0.8550 which sits on the 20-day moving average validates it as a solid demand zone. A close above 0.8660 has prompted short interests,…
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EURUSD retreats as fundamentals diverge The US dollar rises back ahead of nonfarm payrolls. The ECB is expected to jump on the bandwagon and raise its interest rates this month. However, it is anyone's guess what the magnitude of the…
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Cathie Wood, who manages ARK investments funds, is popular among retail traders. Which is not surprising, since smaller traders tend to be more bullish and growth-favoring. So, it was quite noteworthy when she came out yesterday to say that…
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