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USDJPY has so far retraced over 50% of the recent 150.88/146.48 drop, in steep recovery that extends into fifth straight day. Fresh strength emerged from profit-taking after the pair was sharply down on growing speculations that the BoJ would start tightening its monetary policy this month, with significant interest rate gap between two central banks, […]

The post USD/JPY: Stands at the Front Foot Ahead of BoJ and Fed Policy Meetings appeared first on Action Forex.

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US100: Consolidated and Preparing Correction Below 18100. Key Levels on H4

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03/06/2024

EUR/USD Eyes More Gains Above 1.0900, Bulls In Control

Key Highlights EUR/USD started a consolidation phase below the 1.0900 resistance. A major bullish trend line is forming with support at 1.0820 on the 4-hour chart. Gold prices are still consolidating above the $2,320 support zone. GBP/USD might continue to rise unless there is a close below 1.2650. EUR/USD Technical Analysis The Euro remained in […]
01/12/2023

Technical Outlook and Review

DXY: The chart for DXY (US Dollar Index) displays a bullish overall momentum. Potential price action suggests a bullish bounce off the 1st support. The 1st support at 103.17 is identified as a pullback support. It’s a significant level where buying interest may emerge, potentially propelling the DXY towards further gains. The 2nd support at […]
02/12/2023

The Weekly Bottom Line: Moving Toward Target

U.S. Highlights A second reading on U.S. GDP showed that the economy expanded by an even more impressive 5.2% (annualized) last quarter, a 0.3 percentage point upgrade from the initial reading. Government spending and business investment were revised up, but consumer spending was revised down slightly. October’s real consumer spending data showed that growth eased […]