Orbex - Forex Trading Library

GBPUSD seems to be forming a triangle wave e, the last leg of the formation. The correction wave consists of primary sub-waves Ⓐ-Ⓑ-Ⓒ. Wave Ⓐ is a 5-wave impulse, and wave Ⓑ resembles a double zigzag. Currently, prices are structuring…
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A host of key economic data is set to close out the week in Japan. In the altered reality that is the coronavirus situation, some of the usually important economic metrics are largely being ignored by the markets. In terms of getting a…
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GBPCHF has been bearish since the 1.33 top reached on Dec '19. With prices trading near the trendline resistance TR1 starting Feb 18, '20 we could see the pair moving up for a retest as the bullish attempt on May 27 was weak. Despite…
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Gold prices are pushing lower after the precious metal failed to find support at 1717.65. The breakdown below this level has led to gold falling over 0.80% intraday. Prices are now trading off a minor support level at 1696.50. If…
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WTI Crude oil prices gave back the gains from earlier this week as prices are trading softer. The commodity is trading near the 33.66 level which has been somewhat difficult to break past. But, the Stochastics oscillator is positioned…
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The Pound sterling briefly rose to highs of 1.2364 before retreating lower. Price action is currently back near the price level of 1.2275. Given that this proved to be a resistance level, the retest will likely establish it as support.…
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The euro currency is on the front foot as prices once again rose to test the 1.1000 level. A brief breakout above this level led prices to intraday highs of 1.1030 before settling back under 1.1000. Despite attempts to push higher,…
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The current formation hints to a zigzag pattern consisting of intermediate sub-waves (A)-(B) -(C). Sub-waves (A) and (B) are fully completed. Wave (A) is a 5-wave impulse, and wave (B) is a triple zigzag. Currently, we can see wave…
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Round two! We have the second reading of GDP for major economies coming up in the next couple of days. Normally, the second reading isn't a market event, because there's very little, if any, change, compared to the flash readings.…
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The USDCHF currency pair bounced off a major 3-month trendline support at 0.9650 on Tuesday. At the said level, there also lays the regression medium-term trendline of the descending channel starting Apr 24. With the RSI (9) indicating…
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