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GBPUSD falls for 8 consecutive weeks 20- and 200-day SMAs post death cross MACD and RSI suggest more losses GBPUSD recorded the eighth straight negative week after the pullback from the 1.3433 level, losing more than 7%. The price posted a fresh six-month low of 1.2486 on Friday, meeting the long-term ascending trend line. More aggressive […]

The post GBPUSD Plunges Near 6-Month Low appeared first on Action Forex.

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04/04/2024

A Trading Playbook on Japanese FX Intervention

Yen falls 7% this year to hit lowest levels in three decades Japanese authorities threaten to intervene again to defend it How likely is intervention, and what are the steps to get there? Yen tanks, again The Japanese yen absorbed heavy damage this year, briefly falling to a 34-year low against the US dollar. Selling […]
14/03/2024

AUDJPY Wave Analysis

AUDJPY reversed from key support level 97.20 Likely to rise to resistance level 98.50 AUDJPY currency pair recently reversed up from the key support level 97.20 (which stopped the previous minor corrections iv and a, as can be seen below) coinciding with the lower daily Bollinger Band. The support level 97.20 was strengthened by the […]
06/03/2024

ISM Shows Services Sector Expansion Continued in February

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