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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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17/01/2024

GBP/USD At Risk of More Losses Below 1.2600

Key Highlights GBP/USD is struggling to stay above the key 1.2620 support zone. It broke a major bullish trend line with support at 1.2685 on the 4-hour chart. EUR/USD is showing a few bearish signs below 1.0900. Gold prices started a downside correction from the $2,060 resistance level. GBP/USD Technical Analysis The British Pound started […]
13/09/2024

GBPJPY Makes a Backflip, But Patience Needed

GBPJPY resumes negative momentum, but hopes for a pivot remain Sellers need a close below 185.65 to take full control GBPJPY came under renewed downside pressure after closing Thursday’s session with mild gains around 186.00. The pair shifted from a recent low of 183.70 earlier this week, forming a hammer candlestick and giving hope for a potential […]
21/03/2024

USDJPY Reaction to Fed and BoJ Decisions

Fed and BoJ decisions have some impact on USDJPY Daily chart shows some weakness for the next few sessions But weekly chart looks strongly bullish FOMC decision drives dollar lower The dollar declined following the FOMC meeting on Wednesday, as Federal Reserve Chair Powell adopted a more accommodative stance. Policymakers have maintained the dot plot’s view for this year, […]