Orbex - Forex Trading Library

AUDUSD seems to be forming a bearish triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag. At the time of writing, a bullish intervening wave Ⓧ is developing. This can take the form of an intermediate triple (W)-(X)-(Y)-(X)-(Z) zigzag. In the upcoming trading…
Read More

USDCHF struggles for support The Swiss franc rallies as new sanctions against Russia trigger a flight to safety. The pair has met stiff resistance in the supply area (0.9290). Then a drop below 0.9220 and 0.9170 suggests that…
Read More

As is customary, the first of the month brings an avalanche of data. And all of it is potentially market-moving. This time around, however, it could take a back seat given the contingency in Ukraine, and how the market reacts to the…
Read More

The USDCNH pair could be forming a large horizontal correction wave ④ of the primary degree. This takes the form of an intermediate double three (W)-(X)-(Y). At the time of writing, we are in the final part of the intermediate…
Read More

GBPUSD looks to steady The sterling recoups some losses as sentiment stabilizes after the initial fear-driven sell-off. A clean cut through the daily support at 1.3360 has triggered a wave of liquidation. Sentiment remains downbeat…
Read More

AUDUSD struggles as sentiment worsens A deterioration in risk sentiment took a toll on the Australian dollar. War in Ukraine drove investors into safe havens and left riskier currencies such as the Aussie vulnerable. The sell-off…
Read More

Stock markets have been on a roller coaster the last couple of days. That naturally bleeds over into currencies, as traders look to position their investments. On Thursday, European indices dropped by as much as 5.0%, but then opened up to…
Read More