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Shaped four consecutive weeks of positive higher closes since 27 Oct 2023 low of 32,310. Potential start of a major uptrend phase with next major resistance at 39,515. Watch 35,175 key short-term support to maintain minor uptrend phase from 10 November 2023 low. The price actions of the US Wall St 30 Index (proxy of […]

The post US DJIA Technical: Bullish Impulsive Upmove Remains Intact appeared first on Action Forex.

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USD/JPY: Bears Consolidating for Fresh Push Through Daily Cloud Base

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12/04/2024

GBP/USD: Break of Pivotal Supports Sparks Fresh Acceleration Lower

Cable fell to the lowest in nearly five months on Friday, following fresh bearish acceleration through psychological 1.2500 support and Fibo level at 1.2465 (50% retracement of 1.2037/1.2893 uptrend. Breach of a multi-month range floor (1.2518) weakens the structure and increases risk of deeper fall on completion of a double-top pattern on weekly chart. Bearish […]
10/01/2024

Weak JPY Following Disappointing (But Outdated) November Labor Earnings Data

Markets Bond supply stood in the center of attention yesterday. Belgium and Italy kicked off in Europe. Both received bumper investor interest, the former for a new 10-year OLO benchmark and the latter for a 7-year one as well as a tap of an existing 30-year BTP. The US started its monthly refinancing round with […]
03/09/2024

USD/JPY Price Forecast – USD Gains Despite Labor Day Liquidity

USD/JPY rises for the fourth consecutive day, supported by US economic optimism. US employment data this week is crucial for Fed’s September rate decision and USD/JPY direction. Japanese economic indicators and seasonality may also influence USD/JPY’s trajectory. USD/JPY continued its advance on a thin liquidity Monday. The greenback is up around 0.57% against the JPY […]