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EURGBP edges higher today ahead of crucial ECB meeting Strong downside pressure in place despite UK elections being in the spotlight Momentum indicators are mostly mixed at this juncture EURGBP is trading higher today, a tad above its lowest level since August 2022, and in an extremely important support area that has repeatedly acted as […]

The post EURGBP Tests a Key Support Area appeared first on Action Forex.

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27/12/2023

NZDUSD Clocks Fresh 5-Month High; Looks Overbought

NZDUSD stages a steady recovery from 2023 lows But momentum indicators warn of overbought risks Is there a pullback in sight? NZDUSD has been in a steep uptrend since its 2023 low of 0.5772, generating consecutive higher highs and a V-shaped recovery pattern. However, the latest advance seems substantially overstretched as the RSI has been within its overbought zone for […]
17/05/2024

AUD/USD and NZD/USD Set Sights on Additional Upside

AUD/USD started a decent increase above the 0.6655 resistance. NZD/USD is also rising and could aim for a move above the 0.6140 resistance. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar found support at 0.6585 and recovered higher against the US Dollar. There is a major bullish trend line forming with support […]
26/07/2024

USDCAD Wave Analysis

USDCAD reversed from long-term resistance level 1.3850 Likely to fall to support level 1.3760 USDCAD currency pair is under bearish pressure after previously reversing from the long-term resistance level 1.3850 (which has been repeatedly reversing the price from the end of 2022, as can be seen below). The resistance level 1.3850 was strengthened by the […]