Orbex - Forex Trading Library

The current US dollar index (DXY) formation shows a 5-wave impulse consisting of cycle waves I-II-III-IV-V. Wave IV looks complete as primary sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ have formed and most likely ended a triple zigzag pattern. Now, markets…
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There have been arguments that the euro is set to get stronger in comparison to other currencies (especially the dollar and pound) in the medium term. The key fundamental reason given for this is that Europe is exiting lockdowns sooner.…
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Falling shares in Hong Kong drove the Hang Seng index to a 3-month low of 22500 this morning. With prices bouncing off of the multiyear trendline support TS1, a rebound is likely. The trendline connects the Oct '08 and Fed '16 lows at…
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NASDAQ 100 (NAS 100): Calo Di Momentum In Area Di Massimo S2: 9,290.1     S1: 9,352.1     R1: 9,448.9     R2: 9,545.8 La settimana appena trascorsa ha mostrato per l’indice NASDAQ100 un piccolo pattern di inversione con due  livelli…
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The S&P500 Index has been steadily rising higher. The correction to the declines in March is now past the 61.8% Fibonacci retracement level. After forming an interim high near 2965, the index drifted lower, but not before re-testing…
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EURGBP Rises Over Brexit Impasse The euro was put back on track thanks to the 500 billion euro recovery fund recently agreed between France and Germany. The much-awaited stimulus package is likely to boost investor sentiment for the…
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Last Week’s Highlights Fed minutes underscore uncertainty in the economy The Federal Reserve released the meeting minutes from its policy meeting held on April 29th. According to the minutes, the policymakers were uncertain about the…
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The precious metal made modest gains into Friday’s close, rising 0.53%. But price action is now consistently making lower highs. For the moment, the declines are rejected off the dynamic support from the rising trend line. The lower…
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WTI crude oil prices were a tad weaker on Friday. The commodity fell below the 33.66 level which has played a key role so far. If oil prices fail to settle above this level in the coming days, we could expect to see some corrections.…
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The pound sterling is gradually falling back albeit consolidating right near the falling trend line. The declines were triggered after GBPUSD failed near the resistance level of 1.2277. Prices are now inside the new range with the…
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