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Key Highlights AUD/USD declined heavily from the 0.6800 resistance zone. It traded below a key bullish trend line with support at 0.6725 on the 4-hour chart. EUR/USD started a downside correction below the 1.0880 level. Oil prices turned red and declined below the $78.50 level. AUD/USD Technical Analysis The Aussie Dollar saw a strong bearish […]

The post AUD/USD Declines: Market Insights on the Tumble appeared first on Action Forex.

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25/01/2024

Sunset Market Commentary

Markets European January PMI surveys failed to really inspire trading. A disappointing outcome for the French services PMI – releases ahead of German and aggregate EMU data – caused a spike higher in German Bunds, but lack of follow-through buying rapidly pulled German bonds back to opening levels. The EMU composite PMI improved marginally from […]
17/09/2024

GBPUSD Wave Analysis

GBPUSD reversed from support zone Likely to rise to the resistance level 1.3255 GBPUSD currency pair continues to rise strongly after the earlier upward reversal from the support zone set between the support level 1.3020 (former resistance from July) and the 38.2% Fibonacci correction of the upward impulse from August. The upward reversal from this […]
29/11/2023

USDJPY Bears Face Their Most Crucial Test So Far

USDJPY continues its decent downtrend It now tests the support set by the 100-day SMA Momentum indicators support the current move USDJPY is again lower today, recording its fifth consecutive red candle for the first time since the July correction. It is now testing the support set by the 100-day simple moving average (SMA) and […]