Orbex - Forex Trading Library

The stock index SPX500, as a few weeks ago, formed a major impulse trend. At the moment, the primary wave ③, which is part of the cycle impulse V, is under development. It is a bullish impulse marked by intermediate sub-waves…
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USDCAD struggles for support The Canadian dollar surged after a sharp drop in February’s unemployment rate. A break above the recent peak at 1.2875 has consolidated the US dollar’s lead. The RSI’s repeatedly overbought condition has…
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USDJPY rises as BOJ stays dovish The Japanese yen softens as global uncertainty takes a toll on its economy. Japan’s high dependency on energy and raw material imports means that surging prices could hurt the economy. The…
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Last night, Goldman Sachs issued a note to clients, downgrading their forecast for the US GDP growth to 2.9% from 3.1% prior. However, that wasn't the headline that got most of the attention from the press. Specifically, it was the…
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In the long term, the AMZN structure shows a simple zigzag consisting of sub-waves a-b-c of the cycle degree. The first major wave a is a bullish impulse consisting of primary sub-waves ①-②-③-④-⑤. In the last section of the chart,…
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NZDUSD consolidates gains The New Zealand dollar inched higher supported by roaring commodity prices. A break above the daily resistance at 0.6890 has put the kiwi back on track in the medium term. A bullish MA cross on the daily…
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Usually, when there is a move towards safe havens, commodity currencies take a bit of a hit. So, traders might be a little surprised to see that the AUDUSD has generally been trading higher since the massive risk-off event that was the…
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