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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 […]

The post EUR/USD Under Pressure: Resistance Levels Hold Firm appeared first on Action Forex.

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06/06/2024

EURGBP Tests a Key Support Area

EURGBP edges higher today ahead of crucial ECB meeting Strong downside pressure in place despite UK elections being in the spotlight Momentum indicators are mostly mixed at this juncture EURGBP is trading higher today, a tad above its lowest level since August 2022, and in an extremely important support area that has repeatedly acted as […]
31/07/2024

USD/JPY Outlook: Cracks Key 150 Support Zone on Fresh Post-BoJ Acceleration Lower

USDJPY accelerated lower in early European trading on Wednesday, following a mixed immediate reaction on BoJ’s decision to raise interest rate from 0.10% to 0.25% and unveil plan to halve bond buying. The decision was positive for yen and added to currency’s broader strength, sparked by recent interventions by Japan’s authorities. Fresh weakness pushed the […]
07/04/2024

Forex and Cryptocurrency Forecast

EUR/USD: The Dollar Weakness Puzzle What transpired with the EUR/USD pair last week? It behaved as expected on Monday, 01 April. However, starting from Tuesday, the situation deviated. Let’s delve into the details. On the first day of April, data on business activity in the US industrial sector from the ISM for March showed the […]