Orbex - Forex Trading Library

AUDUSD seems to be forming a bearish triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. At the time of writing, a bullish intervening wave Ⓧ is under development. This can take the form of an intermediate triple (W)-(X)-(Y)-(X)-(Z) zigzag. Wave (Z) is…
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USDCAD tests critical floor The Canadian dollar rose after January’s retail sales numbers beat market expectations. A fall below 1.2690 has forced buyers to bail out, invalidating the rebound from early March. The greenback is…
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EURUSD struggles over recession risk The euro treads water as talks of recession simmer. The pair found support following the ECB's pledge to reduce its stimulus, paving the way for an interest rate hike before the end of the year.…
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Chancellor Sunak will be making a speech in the Commons, presenting what is colloquially called the 'spring statement'. It's a sort of "mini-budget", addressing spending concerns at the fiscal half-year mark. The spring statement has…
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The USDJPY currency pair shows a cycle of sub-waves w-x-y. Currently, we see the final actionary wave y, taking the form of a primary simple -- zigzag. The correction wave ended in the form of a contracting horizontal triangle, with…
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GBPUSD attempts to rebound The British pound stalled after the BOE failed to secure a unanimous vote for higher rates. A bullish RSI divergence suggests exhaustion in the sell-off, and combined with the indicator’s oversold…
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Yesterday, European stock markets moved substantially higher and brent crude fell below $100/bbl. Since then, it has popped back up, but it is still quite a bit lower than Monday's peak. Crude prices topped out after the US announced it…
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The GBPUSD currency pair is moving within a correction trend. This takes the form of a double w-x-y zigzag of the cycle degree. The current chart shows the end of the actionary wave w and the bullish intervening wave x. This was in…
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