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CHFJPY has lost some ground over the last month Yet, overall picture remains overwhelmingly positive Decisive break below 160 level needed to change that CHFJPY suffered a minor retreat in recent weeks, after hitting a record high back in November. That said, the structure of higher highs and higher lows remains in force, which suggests […]

The post CHFJPY Pulls Back From Record Highs appeared first on Action Forex.

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27/05/2024

Dollar Index outlook: Stands at the Back Foot Ahead of Key Economic Releases This Week

The dollar moved within a narrow range in Asian / early European session on Monday, but near-term picture remains bearishly aligned, weighed by Friday’s 0.3% drop and formation of bearish engulfing pattern on daily chart. Rising negative momentum adds to downside risk, though close within daily cloud (top lays at 104.65) and firm break of […]
25/03/2024

USD/JPY Drifting at Start of Week

The Japanese yen is showing limited movement on Monday. In the North American session, USD/JPY is trading at 151.25, down 0.13%. Yen can’t find its footing Last week’s Bank of Japan was dramatic as the central bank raised interest rates for the first time since 2007. The move did not catch the markets completely by […]
05/03/2024

Bitcoin (BTCUSD) Next Bullish Leg In Progress

Short Term Elliott Wave View in Bitcoin (BTCUSD) suggests that cycle from 2.1.2024 low is in progress as an impulse. Up from 2.1.2024 low, wave ((i)) ended at 52998 and dips in wave ((ii)) ended at 50639.8. The crypto currency extended higher in wave ((iii)) towards 64105.7. Internal subdivision of wave ((iii)) unfolded as a […]