Orbex - Forex Trading Library

US President Donald Trump tweeted on Thursday that his Chinese counterpart and himself will soon be signing a trade pact. The news comes after skepticism that a longer-term trade deal could be under threat. Equities pulled back despite…
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The first Friday of November will see the US nonfarm payrolls report coming out amid a busy trading day. Following the surprise decline in the unemployment rate for the United States, the forecasts are somewhat more realistic this time…
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The medium-term structure on SPX hints to an ending diagonal pattern consisting of primary waves ①-②-③-④-⑤. Following the completion of the correction down to primary ④, we can now see a bullish zigzag attempting to complete primary wave…
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China's PMI's are especially interesting this time around because it's the first survey since it became known that the US and China had tentatively reached an agreement about the ongoing trade war. Of course, it's not a done deal. In…
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The European statistics agency, Eurostat will be releasing the preliminary GDP report for the third quarter today. During the three months ending September 2019, economists are optimistic that the eurozone economy grew at a pace of 0.2%…
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The Federal Reserve Bank held its monetary policy meeting yesterday. As widely expected, the central bank cut the Fed funds rate by a quarter basis point to 1.50% - 1.75%. In its widely watched monetary policy statement, the central bank…
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Canada will be releasing the monthly GDP numbers today. Forecasts show that on a month over month basis, the GDP will rise by 0.2% on the month. This comes after the previous month in July saw a flat print or stagnant growth. But the…
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The current structure on crude suggests that we are on a primary double zigzag Ⓦ-Ⓧ-Ⓨ formation.  Waves Ⓦ and Ⓧ  are complete but wave Ⓨ is still under construction. Wave Ⓨ consists of intermediate sub-waves (W)-(X)-(Y), where (W) and (Y)…
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"Conserving Ammunition" seems to be the watchword going into the BOJ's interest rate decision, which we are expecting later tonight. There had been some talk that they might cut rates in line with the global race to the bottom. However,…
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