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AUDUSD remains in red for the fourth straight day, but bears slowed on Wednesday and action holding within a narrow range just above three-month low. Technical studies remain bearish on daily chart and favor further downside, though oversold conditions suggest that consolidation is likely to precede. Broken daily Tenkan-sen (0.6600) should cap upticks to marks […]

The post AUD/USD Outlook: US CPI Data in Focus appeared first on Action Forex.

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19/04/2024

Forecast with Elliott Wave Technique Calling EURUSD to Extend Lower

Short term Elliott Wave view in EURUSD suggests that cycle from 12.28.2023 high is in progress as a zigzag Elliott Wave structure. Down from 12.28.2023 high, wave A ended at 1.0694 and rally in wave B ended at 1.098. Wave C lower is in progress as a 5 waves impulse Elliott Wave structure. Down from […]
18/04/2024

US, Japan Express Concern Over Japanese Yen

The Japanese yen is almost unchanged on Thursday. In the North American session, USD/JPY is trading at 154.44, up 0.03%. It’s a light data calendar today. US unemployment claims were unchanged at 212,000 and the Philly Fed Manufacturing index surged to 15.5 in April, up from 3.5 in March and crushing the market estimate of […]
29/03/2024

Bitcoin Doesn’t Fit the Downtrend Now

Market picture The crypto market capitalisation rose 1.4% in 24 hours to $2.66 trillion. Buyers stepped in the night before when Bitcoin touched $68.5K and pushed the price up to $70.7K at the start of active trading in Europe. Bitcoin was rocked on Wednesday, first pushing the price above $71.8K and then dropping to $68.5K. […]