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EUR/USD gained bullish momentum above the 1.0985 resistance. USD/JPY is declining and showing bearish signs below the 142.85 level. Important Takeaways for EUR/USD and USD/JPY Analysis Today The Euro remained in a bullish zone and climbed above the 1.0985 resistance zone. There is a key bullish trend line forming with support near 1.1020 on the […]

The post EUR/USD Extends Rally While USD/JPY Revisits Support appeared first on Action Forex.

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Technical Outlook and Review

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30/11/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index), the overall momentum of the chart is bearish, suggesting a potential download movement in price. In this scenario could potentially make a Bearish continuation towards the 1st support. The 1st support at 102.30 is identified as a pullback support. This suggests that it’s a significant level where buying interest […]
07/03/2024

Technical Outlook and Review

DXY: The DXY chart exhibits a bearish momentum, suggesting a potential continuation towards the 1st support level. The 1st support at 102.95 is significant as a multi-swing low support, indicating its historical importance as a level where buying interest has emerged, potentially providing support to the price. Furthermore, the 2nd support at 102.63 is characterized […]
18/09/2024

Markets Will Finally Get the Fed Verdict Today

Markets August US retail sales were supposed to provide final input yesterday as investors concluded their positioning going into today’s Fed policy decision. Overall the report was marginally stronger than expected (headline sales +0.1% vs -0.2% expected after a strong upwardly revised 1.1% in July, core control group sales 0.3% M/M as expected but July […]