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GBPUSD maintains weak bias in near term Falls from 4-month high MACD and RSI suggest horizontal move GBPUSD climbed to a new four-month high in the previous week, but it reversed lower again, falling beneath the 61.8% Fibonacci retracement level of the down leg from 1.3140 to 1.2035 at 1.2720. The next major support level […]

The post GBPUSD Attempts to Recoup Some Losses appeared first on Action Forex.

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EURJPY Retraces Higher as 200-day Holds Ground

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15/04/2024

GBPAUD Wave Analysis

GBPAUD reversed from support level 1.918 Likely to rise to resistance level 1.9360 GBPAUD recently reversed up from the key support level 1.918 (which has been reversing the price from January). The support level 1.918 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the upward impulse from December. […]
07/03/2024

AUDUSD Surges Within Critical Levels

AUDUSD rebounds off 0.6485 and surpasses downtrend line MACD and RSI indicate more upside pressure AUDUSD has been experiencing a new up leg over the last couple of days, surpassing above the short-term downtrend line and the flat 200-day simple moving average (SMA), meeting the 50-day SMA near the 0.6590 critical resistance. Technically, the MACD […]
12/06/2024

Euro Hits Monthly Low Amid Political Instability in France

The EUR/USD pair declined to 1.0740 on Wednesday, nearing the month’s low. This downward movement is primarily driven by the political instability in France following the significant developments in the European Parliament elections. French President Emmanuel Macron has called for early legislative elections after the far-right party’s strong showing. While Macron retains the presidency and […]