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Weak Swiss inflation renewed the downward momentum of the franc, which is losing over 0.5% against the euro, sending EURCHF to highs last seen in May 2023. The Swiss Consumer Price Index was virtually unchanged for March, with annual inflation slowing to just 1.0% – the lowest since September 2021. The Swiss National Bank has […]

The post CHF Renewed Its Decline on Weak Inflation appeared first on Action Forex.

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01/04/2024

EUR/USD Turns Red and Signals More Downsides

Key Highlights EUR/USD started a fresh decline below the 1.0820 support zone. A key bearish trend line is forming with resistance at 1.0875 on the 4-hour chart. Gold prices rallied further above the $2,250 resistance. The US ISM Manufacturing Index could increase from 47.8 to 48.4 in March 2024. EUR/USD Technical Analysis The Euro started […]
10/05/2024

EURUSD Elliott Wave: Forecasting the Rally from Equal Legs Area

Greetings fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of EURUSD, published in members area of the website. As our members know, EURUSD has ended the cycle from the December’s 2023 peak. The pair has recently pulled back in a 3-wave pattern, with buyers stepping […]
05/06/2024

USDJPY Recoups Losses After Bounce Off Rising Line

USDJPY heads north with first resistance at 20-day SMA RSI and Stochastics confirm upside movement USDJPY has reversed back up again after the strong rebound off the medium-term uptrend line and the 50-day simple moving average (SMA), meeting the 23.6% Fibonacci retracement level of the up leg from 140.20 to 160.20 at 155.50. Momentum indicators […]