Orbex - Forex Trading Library

The current USDJPY structure shows a cycle degree correction with wave a most likely followed by a corrective wave b. The latter hints to a primary degree zigzag, consisting of sub-waves Ⓐ-Ⓑ and Ⓒ, as seen above. At the time of writing,…
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Coming up later tonight, or early tomorrow depending on where you are, we have the first major bit of economic data out of Australia for the year. A better than expected trade balance might be what the market needs to reverse the…
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The US dollar is rebounding after a patch of strong economic reports from the United States. The ISM non-manufacturing PMI was higher at 55.0, beating estimates of 54.5. It was also higher compared to November’s print of 53.9. The…
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Closer to the end of last week we saw a surge that led prices to the completion of minor wave 3. The chart above indicates that the 5-wave minute upside structure was followed by a minor correction 4. This could be followed by a final…
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The current GBPUSD structure hints to a forthcoming bullish zigzag that is represented by cycle waves a-b and c. Wave a was completed with a 5-wave impulse move, whereas wave b is currently under construction. The corrective cycle…
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The Institute for Supply Management will release the results of its non-manufacturing PMI survey. This will be one of the two main reports that will influence the markets this week. Economists are hoping that activity in the…
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Trade of the week GBPUSD stays in range before NFP The pound sterling is currently in a narrowing consolidation range between 1.2900 and 1.3280. This reflects the market’s indecision as MPs head back to the UK Parliament after the…
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Investors were cautious on Monday. The markets opened following the US killing of a top Iranian commander. The risk-off sentiment saw equities trading weaker, while gold prices rallied to highs of 1588 before retreating intraday.…
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People probably don't think about it, but Forex is arguably the oldest financial exchange instrument. It has a lot of firsts to its credit, as a consequence. Foreign exchange has been constantly evolving and finding new ways…
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