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EURJPY remains in red and holding near three-week low on Friday, on track for the first weekly loss in five week and the biggest drop since the second week of March. Initial signal of larger rally stall was also generated by November’s monthly Doji with long upper shadow and overbought conditions on monthly chart. Daily […]

The post EUR/JPY: Completion of Failure Swing Pattern to Signal Deeper Pullback appeared first on Action Forex.

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16/09/2024

EUR/USD Outlook: Euro Rises Further on Weaker Dollar

EURUSD rises for the third straight day, benefiting from weaker dollar on speculations of the magnitude of Fed’s rate cut on Wednesday. Recovery leg from a higher base (formed after a double rejection just above psychological 1.10 support) retraced so far 61.8% of 1.1201/1.1002 pullback, adding to upside prospects. Improved picture on daily chart (MA’s […]
22/10/2024

USDCAD Eyes 1.39: Bullish Momentum Builds in Linear Regression Channel

Fundamental Analysis The Canadian dollar (CAD) is under significant pressure due to the drop in Canada’s annual inflation rate, which fell to 1.6% in September 2024, well below the Bank of Canada’s (BoC) 2% target. This price slowdown, primarily driven by the decline in gasoline and transportation costs, has fueled expectations of a 50-basis-point rate […]
02/04/2024

Oil Clears Way for Growth Above $90

Oil prices have been hitting five-month highs, and every trading session has been rising since 27 March. The price of a barrel of WTI reached $84.6 at the start of the day on Tuesday before retreating slightly by midday in Europe. To some extent, oil is managing to copy gold, which has also seen a […]