Orbex - Forex Trading Library

USDJPY shows a large intervening wave Ⓧ of the primary degree, which took the form of a bearish triple zigzag. We then saw the rapid growth and the start of the last wave, consisting of intermediate sub-waves (1)-(2)-(3)-(4)-(5). The…
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XAUUSD has witnessed a choppy descent since hitting record highs in the midst of the 2020 pandemic. The continuous descending channel from the said period has seen prices tested at the psychological $1800 level. The recent bullish…
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President’s Day Doesn’t Halt Dollar Decline The US index closed 0.10% lower on Monday as it continued its bearish tone. Analysts still back an extended period of weakness for the greenback into 2021, on the back of Fed’s commitment to…
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The precious metal is trading subdued with price action firmly stuck within Friday's range. With both the Asian and US markets closed, trading in the precious metal is slow. Price action is back near the support level of 1817 region.…
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Oil prices opened on a bullish note in the Asian trading session rising to a new 13 month high. The gains came as the cold winter has fueled demand for the fossil fuel. Price rallied to a new high of 60.75 before giving back some of…
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The British pound Sterling continues to surge ahead with price action rising above 1.3900. So far, GBPUSD has been posting gains for nearly five consecutive weeks. A continuation to the upside could see price action rising towards the…
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The euro was trading subdued, with price action once again attempting to retest the resistance level near 1.2144. Price action in the EURUSD is somewhat flat with the US markets closed on account of the president’s day holiday today.…
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Shares in Uber have corrected lower from recent all-time highs. The company’s stock price has seen an impressive rally off the November 2020 lows. Price soared by over 93% off the 33 lows to highs of around 64 last week, recovering from a…
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The AMZN formation shows a large impulse wave consisting of primary sub-waves ①-②-③-④-⑤. At the time of writing, the first three sub-waves have ended, with the corrective wave ④ is under development. The primary correction ④ has a…
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Tomorrow we have the release of a couple of key economic data points from the Eurozone. While generally, GDP figures are what moves the market, tomorrow's release is the second reading of last quarter's figure. The unemployment data…
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