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GBPUSD broke above the previous peak on 6.12.2024 which opens up a bullish sequence from 4.22.2024 low. Rally from there is unfolding as a 5 waves impulse Elliott Wave structure where wave 1 ended at 1.286 and pullback in wave 2 ended at 1.261. Wave 3 higher is currently in progress as another impulse in […]

The post Elliott Wave Favors Further Upside in GBPUSD appeared first on Action Forex.

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08/08/2024

Does Recent EURJPY Correction Have Legs?

EURJPY is hovering around the 159.64 level It is trading around 9% lower from its recent high Momentum indicators are mixed, all eyes on stochastics EURJPY is trading lower today, close to the 159.64 level and considerably above the August 5 low of 154.38. The market is clearly trying to find its footing following the […]
06/12/2023

USD/JPY: Bearish Momentum Remains Intact Despite Softer Tokyo CPI

Tokyo’s CPI for November slowed down further due to a recent drop in oil prices. Tokyo’s services prices accelerated to 3% y/y in November, its fastest pace since 1994. Japan’s latest consumer sentiment data for November also improved to its highest level since August 2023. A boost in consumer sentiment coupled with services inflation on […]
22/07/2024

Biden Leaving Election Races Dominates Headlines

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