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Last Tuesday, the Australian dollar experienced its steepest drop of the year, falling by 1.18%, following higher-than-expected US inflation figures, which boosted the US dollar. However, the Aussie has since rebounded and is now trading at a two-week high against the US dollar. Investors are eagerly awaiting the release of the Reserve Bank of Australia’s […]

The post AUD: Trade Ideas appeared first on Action Forex.

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02/09/2024

GBPJPY – Probe Above Pivotal 200DMA Generating Initial Signal of Bullish Continuation

GBPJPY rose to one-month high on Monday and generated initial signal of bullish continuation on probe above the top of month-long range (192.16) reinforced by 200DMA. Firm break here to confirm signal and open way for fresh upside, with immediate target at 194.10 (50% retracement of 208.11/180.09 downtrend), violation of which to unmask next barriers […]
23/05/2024

Sunset Market Commentary

Markets European May PMIs were generally speaking good. The services reading stabilized at a decent 53.3 in May but a better-than-expected improvement in the admittedly still struggling manufacturing sector (from 45.7 to 47.4) lifted the composite figure to the highest in a year (52.3). S&P Global estimates Q2 growth at 0.3% while projecting an annual […]
10/09/2024

EUR/USD: Faces Again Strong Headwinds at Pivotal Fibo Support

EURUSD is pressuring pivotal support at 1.1040 (Fibo 38.2% of 1.0781/1.1200 bull-leg), after facing several rejections at this level recently. Tuesday’s action is so far holding in a narrow range, following a strong fall in past two days, with near-term bears hesitating here, due to mixed technical signals on 4-hr and daily chart. Weaker German […]