Orbex - Forex Trading Library

The current USDJPY structure shows the construction of the final section of the global actionary wave y of the cycle degree. Wave y takes the form of a primary double zigzag Ⓦ-Ⓧ-Ⓨ, which now includes the last sub-wave Ⓨ in the form of…
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USDJPY seeks support The Japanese yen inched higher after a rise in December’s Tokyo CPI. The US dollar’s break above the daily resistance at 115.50 has attracted momentum buyers, popping up volatility in the process. A bullish MA…
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Yesterday, we had the report of job creation in the US from the ADP, which provided some encouraging signs for what we might get from NFP tomorrow. Of course, the ADP has lost a bit of its predictive capacity, and the numbers it reports…
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It is likely that gold is moving within the major correction trend, which takes the form of a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ of the primary degree. Most likely, the four parts of this triple zigzag are already fully complete. We are now in…
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EURUSD awaits breakout The US dollar recouped some losses after the FOMC minutes hinted at faster tightening. A drop below 1.1300 has shaken out weak hands as the euro’s consolidation extends. The lack of lasting momentum suggests…
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The start of trading in Europe this year was marred by traders coming home from the holidays to a report of record inflation in Spain. This contributed to many analysts reevaluating the outlook for ECB policy in the coming months. Of…
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The current EURUSD structure suggests the construction of a downward correction pattern. This takes the form of a triple zigzag of the primary degree, consisting of sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. It is likely that at the end of November, the…
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GBPUSD tests resistance Sterling rose after Prime Minister Boris Johnson said there will be no new Covid restrictions. The rally above the daily resistance at 1.3500 indicates a bullish bias. However, selling interest could be…
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Now with the omicron variant, the number of global covid cases has spiked to double the amount they were this time last year. Hospitalizations and deaths, however, have not followed suit. The different approach to dealing with the…
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