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EURCHF trades in a rather tight range The medium-term bearish trend remains valid Momentum indicators support the bearish trend EURCHF is trading sideways today, testing once again the resistance set by the May 27, 2024 downward slopping trendline. EURCHF quickly rebounded from the November 22 low of 0.9204, but the bulls have failed to record […]

The post EURCHF Bulls Troubled by a Key Trendline appeared first on Action Forex.

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04/11/2024

As Bitcoin Retreats from the Top, Ethereum Moves to the Bottom

Market Picture The crypto market lost 1.7% of its cap in 24 hours to $2.24 trillion. The market is correcting as Trump’s chances of winning national polls diminish ahead of the election. For now, it looks like a de-risking ahead of an important event where both major candidates have roughly equal chances of winning. The […]
03/07/2024

NZDUSD Meets Support at 38.2% Fibo

NZDUSD is in a steady decline since early June Completion of golden cross fails to trigger a recovery Oscillators are tilted to the bearish side NZDUSD had been in an aggressive uptrend following its 2024 bottom of 0.5851 in mid-April, surging to a six-month high of 0.6220 in June. However, the pair has come under severe selling […]
09/12/2024

EUR/USD Under Pressure: Resistance Levels Hold Firm

Key Highlights EUR/USD started a recovery wave above the 1.0520 resistance zone. A key rising channel is forming with support near 1.0500 on the 4-hour chart. GBP/USD is attempting to recover above the 1.2750 resistance zone. Crude Oil prices are again moving lower and might decline below $66.50. EUR/USD Technical Analysis The Euro started a […]