Orbex - Forex Trading Library

NZDUSD structure resembles a bearish primary impulse wave Ⓐ,  which consists of five intermediate sub-waves (1)-(2)-(3)-(4)-(5). Currently, in wave (4), bulls could be in for a surprise as the corrective triple zigzag structure seems to…
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The 4-hour chart of GBPUSD is showing a divergence between prices and the RSI (6), which suggests that momentum could turn bearish any moment again. In fact, the bottom trendline of the descending channel starting December 12, 2019, will…
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It seems like almost daily, governments are announcing new spending programs, many of which are the largest in history. US debt is expected to balloon to levels not seen since WWII. Central Banks have taken off almost all limits on asset…
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Gold prices are down close to 0.20% on the day. Price action, however, remains a bit flat, trading close to the resistance area of 1712.47. A strong continuation of the downside will confirm that the resistance level is valid. This…
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WTI crude oil prices are up over 22% on an intraday basis. This follows a strong recovery from the 10.58 level of support. Price action fell back to this level to form a double bottom pattern. With the support area holding strong, prices…
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The GBPUSD currency pair is likely to continue its range-bound trading for a while. Following the previous session’s gains to the resistance level near 1.2485, price action is pulling back. This could keep price action subdued within…
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The euro currency is trading rather flat, up just 0.30% on the day. Price action briefly rose to the minor resistance area of 1.0871 before pulling back slightly. The inverse head and shoulders pattern that we are watching remains in…
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The current USDCAD structure hints at a standard bullish zigzag Ⓐ-Ⓑ-Ⓒ. Waves Ⓐ and Ⓑ have completed their course, whereas wave Ⓒ has a little more room to conclude its impulsive 5-wave move. At the time of writing, the bearish…
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China so far has given every appearance of a V-shaped recovery after officially getting a handle on the COVID-19 outbreak in February. Of course, at the time, the outlook was bleak. But, a month later, corporate expectations jumped back…
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The descending channel starting January 3rd, 2017 suggests that the 106 round support is a critical intercession level of the center channel trendline and price. For USDJPY to reach out to the said level, bears need a successful break of…
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