Orbex - Forex Trading Library

The USDJPY structure shows a bearish intervening wave Ⓧ that takes the form of a triple zigzag. The zigzag consists of intermediate sub-waves (W)-(X)-(Y)-(X)-(Z). At the time of writing, waves (W), (X), (Y), (X) are fully complete. Wave…
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Since July, EURNZD was trading in a constructive ascending channel until a fall of over 4%, led prices down the mid 1.74 region. Since then, however, the currency pair has found itself once again trading with another ascending channel.…
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Stimulus Relief Looks a Long Way Away The US index witnessed another negative session as it closed 0.43% lower yesterday. This capped a significant fall as it was unable to remain above the 93 handle. As the 2-day stimulus deadline…
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Inventories Fall Again Crude oil prices have fallen lower once again this week despite a mostly bullish report from the Energy Information Administration. The EIA reported that in the week ending October 16th, US crude inventories…
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The precious metal is trading higher on Wednesday. Price action managed to close past the 1911.50 level of resistance. This has, in turn, accelerated the gains toward the 1920 level. These near-term gains put gold prices back near the…
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Crude oil prices were trading lower on Wednesday. This comes after the weekly inventory report showed a mixed picture with gasoline inventories rising while crude stockpiles falling. The decline in oil prices comes after a brief attempt…
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The British pound sterling rose more than 1% on Wednesday. The gains were primarily driven by progress in the Brexit talks. Price action is now trading above the 1.3000 level, which held up as resistance previously. With the strong…
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The euro is holding onto its three-day winning streak. Price action is trading closer to the 1.1900 level which has held up as resistance as early as September 21. The current pace of gains will see a possibility for the EURUSD to…
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The current XAUUSD structure shows a bullish impulsive trend of a cycle degree. On the 1H timeframe, we see the final section of wave V, which is the final one in this trend. After the end of the intermediate impulse (3), a bearish…
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