Orbex - Forex Trading Library

The current NZDUSD structure indicates a primary triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag. Sub-waves ① and ② of the primary degree have ended. Wave ① is a 5-wave impulse, with wave ② being an intermediate (A)-(B)-(C) zigzag. In the medium term, we…
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EURTRY hit record highs recently as it pushed through the €9.30 barrier. An ascension from the beginning of the year saw a slight pullback towards the end of September. This led to further upside with continued bullish behaviour and…
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US Government Hints at Revised Stimulus  The dollar index lost some momentum on Wednesday as it closed 0.18% lower. Stimulus negotiations were originally postponed until after the US Presidential Elections. However, yesterday’s tweet…
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Inventories Rise Last Week Crude oil prices have been trading broadly higher across the week. However, they ran into selling pressure mid-week in response to the latest report from the EIA. The Energy Information Administration reported…
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The precious metal gave back the intraday gains on Tuesday and price action now looks weaker to the downside. Following the reversal near the 1900 region, the resistance level has been tested. We expect the current declines to extend…
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Crude oil prices are trading a tad weaker following the gains from Tuesday. However, with price now trading above the 38.83 region, we expect the current pullback to form support here. On the other hand, considering that the 41.00…
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The British pound sterling gave back the gains as the technical resistance near 1.3000 level holds strong for now. As a result, price closed with a strong bearish candlestick on Tuesday. A follow-through to the downside could confirm…
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The euro currency gave back the gains late on Tuesday, but price action remains stubborn. Following the declines, the common currency touched down to the trend line, but only to reverse losses. As a result, price action is trading…
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This week, Chinese online shopping giant Alibaba detailed its plans to purchase a 10% stake in Dufry. The Swiss company is the largest global operator of duty-free shops at airports, holding over 2,500 sites worldwide. Dufry is looking for…
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Thursday could be a busy day for the Swiss Franc, with two fundamental events. First is the release of September unemployment data, and then we have SNB’s Jordan giving a press conference. We’ll focus on the unemployment data because…
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