Orbex - Forex Trading Library

The current GBPJPY structure resembles a standard Ⓐ-Ⓑ-Ⓒ zigzag pattern. Primary waves Ⓐ and Ⓑ are fully complete. Wave Ⓐ is a 5-wave impulse and wave Ⓑ is a double zigzag. Primary wave Ⓒ, on the other hand, is only partially complete.…
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The Head & Shoulders identified on May 25th offered a bullish opportunity near 22560. Since the bounce at the golden ratio, prices have marked fresh highs above the 25000 round resistance. With the first attempt having caused a…
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Mexico's central bank has cut interest rates 8 times since it started its current loosening cycle last year. It has now cut a total of 275 basis points. That's the second-fastest pace and largest cut of central banks in the world. But at…
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The precious metal is seen slowing down its gains following the recent breakout. There seems to be a technical resistance near the 1774.50 handle. Still, at the time of writing gold prices are attempting to break out above this level.…
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WTI Crude oil prices are down over 3% intraday. The declines come just after prices touched a three-month high near 41.50. Following this gain, oil prices are trading back below the 40 handle which had proven to be a bit of a struggle to…
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The pound sterling is down near 0.60% on the day, erasing some of the gains from the previous few sessions. The reversal came after the pound sterling failed to breakout above the technical resistance level near 1.2516. This has…
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The euro currency is trading weaker on Wednesday after failing to keep up on the momentum from the previous session. The common currency erased all gains from earlier as it moved back to the lower technical support near 1.1261. This…
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Despite silver trading within the lower zone of the regression channel, the chances of breaking to new multi-month highs are increasing. Bulls could be attracted to the confluence level near the $18.50 area. There, the median trendline…
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Tomorrow we get the final chance to adjust the measurement of the US Q1 GDP. The broad consensus is that it will simply repeat the second reading, to confirm a -5.0% contraction. However, given the logistics issues around COVID, there is…
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