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Bearish Scenario: Sales below 78.99 with TP1: 77.93, TP2: 77.45, and upon its breakout TP3: 76.56 and TP4: 75.70. It is recommended to place a stop loss above 79.50, at least 1% of the account capital**. A trailing stop can be used. Bullish Scenario: Purchases above 78.00 (wait for a pullback to this area) with […]

The post XBRUSD: Corrects Towards Supply Zone With Expected Further Downside Towards 75.70 appeared first on Action Forex.

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19/04/2024

Escalation Between Iran and Israel: How the Price of Brent Oil Reacts

On the night of Thursday into Friday, reports emerged that Israel had attacked Iran following Iran’s attack on Israel over the weekend. Let’s remember that we wrote on Monday that after a 300 drone and missile attack on Israel over the weekend, the price of Brent oil did not rise. Perhaps this happened because Iran’s […]
15/05/2024

EUR/USD: At Five-Week High and Testing Key Resistance Zone Ahead of Release of US CPI Data

The Euro keeps firm tone and hits new five-week high in early European trading on Wednesday. Fresh bull-leg extends into third consecutive day and cracked pivotal barriers at 1.0830 zone, consisting of 100DMA (1.0823) / Fibo 61.8% of 1.0981/1.0601 downtrend (1.0836) and thin daily cloud (spanned between 1.0820 and 1.0838). Technical picture on daily chart […]
11/06/2024

GBP/USD Shrugs as UK Unemployment Rises, GDP Next

The British pound is drifting on Tuesday. GBP/USD is trading at 1.2720 in the European session at the time of writing, down 0.08% on the day. The UK released the May employment report earlier today. Next up is GDP on Wednesday, with a market estimate of 0% m/m for April, following a 0.4% gain in […]