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AUD/USD is correcting gains from the 0.6620 zone. NZD/USD is also moving lower and might attempt a fresh increase from 0.6000. Important Takeaways for AUD USD and NZD USD Analysis Today The Aussie Dollar started a downside correction from 0.6620 against the US Dollar. There is a key bullish trend line forming with support at […]

The post AUD/USD and NZD/USD Remain In Uptrend appeared first on Action Forex.

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04/04/2024

GBP/USD: Slight Bullish Bias Above 200-DMA But Thin Daily Cloud Still Significant Obstacle

Cable extends recovery from 1.2540 double bottom (Apr 1 / 2 lows) and pressuring significant barrier at 1.2674 (daily cloud top / Fibo 38.2% of 1.2893/1.2539), as bulls regained traction after a false break below pivotal 200DMA support (1.2586). Near-term action is expected to keep slight bullish bias while holding above 200DMA, though sustained break […]
13/02/2024

GBP/USD: Limited Recovery Warns of Prolonged Sideways Mode

Cable ticked higher and hit new highest since Feb 2 in early Monday but was so far unable to sustain gains, keeping the price within congestion which extends into fourth straight day. A double Doji (Fri/Thu) signal indecision as daily studies are mixed and keep near-term price action between 200DMA (1.2564) and falling 10DMA (1.2638). […]
15/02/2024

All’s Well That Ends Well

The market has been very quick in swallowing and digesting this Tuesday’s less than ideal inflation data from the US – which showed that inflation in the US didn’t ease as much as expected in January, remember that data? It was just two days ago, it was supposed to be important, and potentially trend changing. […]