Orbex - Forex Trading Library

The current structure of the currency pair indicates the formation of a global impulse trend, which consists of cycle waves. On the current chart, we see the final part of the cycle correction IV, it is a triangle. After the…
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GBPUSD plummets further Sterling tumbled after a larger-than-expected fall in Britain’s retail sales last month. The pair has been gliding down along the 30-day moving average. A previous consolidation around the psychological level…
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EURUSD softens as Fed to go full out The US dollar strengthens over the Fed’s hawkish bias. In a race to bring down 40-year-high inflation, the Fed may go full throttle with half-point hikes. There is still division on the speed…
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Last Monday, China reported annualized Q1 GDP growth at 4.8%, above expectations of 4.4%. Normally, that would be expected to give a positive boost to Chinese assets. After all, better than expected economic activity should be good for…
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XAGUSD seems to be forming a long-term correction wave b of the cycle degree. Wave b, judging by its shape, is a triple zigzag and consists of primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. The first four parts of this triple zigzag are already fully…
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USDJPY sees limited pullback The Japanese yen softens after a weaker-than-expected CPI in March. The RSI’s overbought condition on both hourly and daily charts points to an extreme overextension. Buyers may be reluctant to chase…
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Tomorrow Markit releases its preliminary (flash) PMI surveys for April. Generally, it's just half the number of managers surveyed, but typically the number isn't all that different from the final one. So, the market tends to move in…
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Tesla has posted record profits once again as it blew away Wall Street estimates. This caps off another record earnings season for the company as it overcame supply chain issues. Proctor & Gamble also hit a high note, as their…
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The current formation of the DXY index hints at the development of a large triple w-x-y-x-z zigzag of the cycle degree. The intervening wave x ended, which is a triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag of the primary degree. At the time of…
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USDCAD breaks support The Canadian dollar soared after red hot inflation readings in March. The greenback’s struggle to reclaim 1.2670 suggests a lack of momentum from the buy-side. A fall below 1.2540 triggered a new round of…
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