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A quick change in sentiment pushed the dollar index price to the lowest of the week in European trading on Friday, after it hit weekly high on Thursday afternoon, just ahead the US data which deflated the dollar. The price action has been in a sideways mode in past couple of weeks and moving above […]

The post Dollar Index Outlook: Eyes Fed Decision for Fresh Direction Signals appeared first on Action Forex.

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10/10/2024

USD/JPY Chart Analysis: Bears May Take Control

As shown in today’s USD/JPY chart, the US dollar has gained over 3.6% against the yen since the start of the month. Yesterday, the exchange rate surpassed the peak formed on 16 August around the 149.40 level, marking a 10-week high. The bullish sentiment towards the US dollar has been influenced by increased market confidence […]
15/04/2024

USD/JPY Outlook: Resumes Rally After a Brief Pause

USDJPY resumes uptrend on Monday, after a brief pause last Thu/Fri and hit new multi-decade high, just ticks ahead of 154.00 round-figure barrier. Bulls hold grip despite increased pressure from overbought studies, with last week’s close above former pivotal barriers at 152.00 zone, adding to bullish signals. Initial resistances lay at 154.00/25, guarding targets at […]
02/05/2024

USD/CHF Makes a Temporary Reversal After Swiss Inflation Jumps

Swiss CPI figures released earlier today came out above expectations, at 1.4%, leading to a reversal of some recent losses for the Swiss franc against other currencies. Observing the USD/CHF pair, we notice a significant intraday drop that appears to be an impulsive move down from a new high. Ideally, this trend could drive the […]