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AUDUSD is trading sideways, a tad above 0.6547 The downtrend from the September 30 high remains in place Momentum indicators are mostly bearish AUDUSD is trading sideways today, a tad above 0.6547. The bearish trend from the September 30 peak remains firmly in place, and, quite interestingly, AUDUSD bulls have failed, up to now, to […]

The post Could AUDUSD Selloff Pause Temporarily? appeared first on Action Forex.

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17/09/2024

EURJPY Wave Analysis

EURJPY reversed from support zone Likely to rise to the resistance level 157.40 EURJPY currency pair recently reversed up from the powerful support zone located between the long-term support level 154.85 (which has been reversing the price from last year) and the lower daily Bollinger Band. The upward reversal from this support zone is likely […]
26/06/2024

Elliott Wave Expects USDJPY to Extend Higher in Impulsive Sequence

Short Term Elliott Wave in USDJPY shows incomplete bullish sequence from 6.4.2024 low favoring more upside. Up from 6.4.2024 low, wave 1 ended at 157.4 as the 1 hour chart below shows. Pullback in wave 2 unfolded as a zigzag structure. Down from wave 1, wave ((a)) ended at 156.92 and wave ((b)) ended at […]
15/07/2024

Oil Price Update – Oil Prices Hold Firm as Chinese Demand Concerns Rise

Oil prices remain stable despite a turbulent weekend and a strong US dollar. Chinese economic data, including disappointing GDP growth and declining refinery output, raises concerns about oil demand. The focus shifts from supply concerns in the US to demand worries in China. Technical analysis suggests potential for a triple bottom pattern in oil prices, […]