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Key Highlights EUR/USD started a decent increase and climbed above 1.0750. A key bullish trend line is forming with support at 1.0700 on the 4-hour chart. Gold prices cleared the $2,335 resistance to move into a positive zone. Oil prices are showing bearish signs below the $80.00 region. EUR/USD Technical Analysis The Euro started a […]

The post EUR/USD Could Extend Gains Unless This Support Fails appeared first on Action Forex.

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20/03/2024

A New World Imagined by BoJ, But Not Yet Realised

Strong wage outcomes saw the Bank of Japan end its negative interest rate policy but further moves are still a world away. At their March meeting, the Bank of Japan raised its policy rate to the range of 0% – 0.1% having “assessed the virtuous cycle between wages and prices” and judged “that the price […]
17/01/2024

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently exhibits an overall bullish momentum. In this context, there is a potential scenario for price to make a bullish continuation towards the 1st resistance. The 1st resistance level at 103.50 is identified as a pullback resistance that aligns with the 78.60% Fibonacci retracement level. Higher up, the […]
12/07/2024

USDCAD Trades Sideways as 200-SMA Provides Support

USDCAD is rangebound in the past few sessions The 200-day SMA caps the pair’s downside Momentum indicators are negatively tilted USDCAD had been hovering around its 50-day simple moving average (SMA) for the past two months, appearing incapable of clearing this hurdle. This repeated inability triggered a decisive break below the 50-day SMA on July 3, with […]