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The dollar index accelerated higher on the first trading day in 2024, extending bounce from five-month low of Dec 28 (100.30) into third consecutive day. Traders collected some profits from the broader downtrend, pushing the dollar’s price higher and sidelining immediate downside threats, as focus shifts to EU inflation data and US labor report, due […]

The post Dollar Index: EU Inflation and US Labor Reports Eyed for Fresh Signals appeared first on Action Forex.

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15/02/2024

EURGBP Reaches Lower Limit of Range

EURGBP pivots higher at the bottom of a range Technical signals not bullish yet Eyes on the 0.8540 resistance zone EURGBP switched to recovery mode after almost reaching August’s one-year low of 0.8491 and the bottom of the 2023 range area. While the area looks to be an ideal place for an upside reversal, the […]
16/09/2024

EUR/USD Could Trim Gains and Drop: Here’s Why

Key Highlights EUR/USD attempted another increase from the 1.1000 support. A major bearish trend line is forming with resistance at 1.1110 on the 4-hour chart. Gold rallied to a new all-time high above $2,580. USD/JPY extended losses below the 141.20 support. EUR/USD Technical Analysis The Euro found support near the 1.1000 zone against the US […]
19/08/2024

USD/JPY Outlook: Japanese Yen Regains Traction vs Dollar on Renewed Expectations for Dovish Fed

USDJPY dips further on Monday, adding to signals that corrective phase off 141.68 (Aug 5 spike low) is likely over. Upleg from 141.68 was repeatedly capped at pivotal Fibo barrier at 149.36 (38.2% retracement of 161.80/141.68) with subsequent weakness being sparked by renewed risk appetite. Yen also appreciates on signals that gap between policies of […]