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The euro is down for a third straight day on Wednesday. In the European session, EUR/USD is trading at 1.0767, down 0.29% on the day. The euro remains under pressure and has declined 3.3% in October. Euro PMIs expected to show more of the same The Eurozone releases the September PMI reports on Thursday, with […]

The post EUR/USD Dips to 11-Week Low appeared first on Action Forex.

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20/03/2024

EURJPY Wave Analysis

EURJPY broke pivotal resistance level 163.40 Likely to rise to resistance level 164.35 EURJPY today broke above the pivotal resistance level 163.40 (which stopped the previous waves 3 and (b), as can be seen from the daily EURJPY chart below). The breakout of the resistance level 163.40 continues the active minor impulse wave 5 of […]
10/09/2024

AUD/USD Shrugs After Weak Confidence Data

The Australian dollar continues to have a quiet week. AUD/USD is trading at 0.6671 in the European session, up 0.17% today at the time of writing. With the Australian economy sputtering, it should come as no surprise that today’s confidence indicators pointed downward. Westpac consumer confidence change declined 0.5% m/m in September, falling from 85.0 […]
09/04/2024

GBPUSD Capped by 50-day SMA

GBPUSD trades sideways between parallel SMAs Remains within its medium-term neutral pattern Momentum indicators improve but stay in negative zones GBPUSD experienced a strong decline following its break above the rangebound structure in place since November. Despite the temporary violation of the 200-day simple moving average (SMA), the pair reversed back higher before the 50-day SMA curbed […]