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USDJPY hits fresh highs as Trump wins battleground states Resistance of 153.80-154.00 still in play USDJPY soared to a new three-month high of 154.36 as Donald Trump won Pennsylvania, Georgia, and North Carolina. Technically, the pair found solid support near its 20-day exponential moving average (EMA), keeping its upward trend in safe place. That said, […]

The post USDJPY Cheers as Trump Leads Election Race appeared first on Action Forex.

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01/10/2024

USD/CAD Can Be Trapped in a Triangle – More Weakness After Completed A-B-C-D-E Waves

USDCAD is reversing south after an unsuccessful push above 2022 highs, so it appears that pair is back in the range after making the first impulsive drop to 1.3450 back in August. Notice that after that drop in A, price rallied in wave (B) as expected, and stoped perfectly at 1.36 area as discussed in […]
13/12/2023

NZDUSD Corrects Lower But 200-day SMA Curbs Retreat

NZDUSD experiences a sharp pullback from its 4-month peak But the 200-day SMA acts as a strong floor for now Momentum indicators deteriorate but remain in positive areas NZDUSD had been staging a solid rebound from its 2023 low of 0.5772, peaking at a fresh four-month high of 0.6221 in early December. Since then, the pair retraced […]
27/04/2024

Weekly Economic & Financial Commentary: The Long and Winding Road to Easing

Summary United States: The Long and Winding Road to Easing The case for rate cuts this summer continued to weaken as this week’s economic data painted a scene of stubborn inflation against the backdrop of defiant consumer demand. We got our first look at Q1 GDP, which downshifted to a 1.6% annualized pace and was […]