Orbex - Forex Trading Library

The euro currency briefly touched the elusive 1.1400 handle earlier on Thursday. But prices pulled back quickly suggesting that sellers are in control. Also, given the fact that EURUSD is on a strong bullish streak, a pullback is…
Read More

The current EURUSD formation hints to a simple bearish zigzag pattern, consisting of primary sub-waves Ⓐ-Ⓑ-Ⓒ. The primary impulse wave Ⓐ is fully complete at the time of writing. The corrective wave Ⓑ also looks just about done. We…
Read More

The pound's recent rally against the USD might be getting into a bit of trouble. Risk sentiment is waning over the last couple of days. But, not to worry, tomorrow we have a host of economic data that could jolt the market. Key among…
Read More

NZDCHF's false break outside the regression channel suggests that a Head & Shoulders pattern is on its way to completion. In this bullish case, the pattern is expected to decline the range between the head and the neckline. The range…
Read More

WTI crude oil is attempting to pare losses from the earlier sessions this week. Following the decline to the 37.67 level, oil prices are rising steadily. However, we have a range established between 40.00 and 37.67. Only a breakout…
Read More

Gold prices made some modest gains but the rally was capped near the 1724 handle. As expected, price action quickly reversed after a brief test to this level. If the declines continue, we expect XAUUSD to pull back to the 1700 level.…
Read More

The British pound sterling continues to remain on the front foot after price is trading comfortably above the 1.2750 handle. However, the steep pace of gains is likely to see prices snapping back. The breakdown of the minor trend line…
Read More

The euro currency posted strong gains for the second consecutive day. The gains were largely driven by a softer greenback. Price action is attempting to test the key price level of 1.1400. However, unless there is a strong breakout above…
Read More

This isn't the first time that a white police officer's brutality against a black person resulted in death. Nor is it the first time such an incident was captured on tape in harrowing detail. It isn't even the first time all this has…
Read More

USDCNH seems to be forming a cycle degree wave V which is taking the form of an ending diagonal and consists of five primary sub-waves ①-②-③-④-⑤. At the time of writing, the corrective wave ④ is more than halfway through its completion.…
Read More