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EUR/GBP edged higher to 0.8643 last week but reversed after rejection by medium term trendline resistance. Initial bias stays on the downside this week for retesting 0.8491/7 support zone. On the upside, above 0.8582 minor resistance will turn intraday bias neutral first. In the bigger picture, outlook remains bearish as EUR/GBP is capped below medium […]

The post EUR/GBP Weekly Outlook appeared first on Action Forex.

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EUR/USD Weekly Outlook

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06/02/2024

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.3487; (P) 1.3515; (R1) 1.3570; More… Intraday bias in USD/CAD stays neutral for the moment. On the upside, break of 1.3540 will resume the rise from 1.3176. That will also revive that case that whole fall from 1.3897 has completed, and target this resistance. Nevertheless, firm break of 1.3357 support will argue […]
09/07/2024

EUR/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0802; (P) 1.0824; (R1) 1.0845; More…. Intraday bias in EUR/USD remains neutral for consolidations below 1.0844 temporary top. Further rally is in favor as long as 55 4H EMA (now at 1.0783) holds. On the upside, above 1.0844 will resume the rebound from 1.0665 to retest 1.0915 resistance. Firm break there will […]
11/09/2024

USD/CHF Mid-Day Outlook

Daily Pivots: (S1) 0.8450; (P) 0.8476; (R1) 0.8495; More… Intraday bias in USD/CHF remains neutral with focus on 0.8536. Rejection by this resistance will retain near term bearishness. Break of 0.8374 will resume the fall from 0.9223 to retest 0.8332 low. Decisive break there will indicate larger down trend resumption. However, considering bullish convergence condition […]