Logo-color Logo-white

EURUSD weakened on Friday after recovery attempts from new multi-month low (1.0682), hit after Wednesday’s post-election 1.7% fall (the biggest daily loss since 19 Mar 2020), failed to clear daily Tenkan-sen (1.0809). Formation of bull-trap pattern on daily chart adds to weak near term outlook as Wednesday’s massive bearish daily candle weighs heavily, technical studies […]

The post EUR/USD Outlook: Bears Hold Grip But Prolonged Consolidation May Precede Fresh Push Lower appeared first on Action Forex.

previous

USD/CAD Eyes Canadian Jobs Report

next

EUR/USD Stabilises, Considers Trump’s Impact

Read More

02/02/2024

Copper Futures Slip after Failing to Break 50% Fibo

Copper prices on the retreat after hitting wall at 50% Fibonacci But head towards breakout from bullish pennant Near-term bias is neutral Copper futures (HGCOP) confirmed the formation of a bullish pennant pattern after failing to post a higher high on Wednesday. Advances were rejected for a second time by both the 50% Fibonacci retracement […]
16/07/2024

Sunset Market Commentary

Markets Global core bonds gained some ground going into today’s main dish, US retail sales. UK gilts slightly outperformed Bunds and Treasuries as markets gear for tomorrow’s June CPI numbers. A further easing on all accounts is expected but the sub 2% drop in the headline reading, if it were to materialize, will probably grab […]
09/09/2024

Crypto: Hope for a Bottom

Market Picture The crypto market is trying to stabilise around the $1.94 trillion mark for the third day (+0.8% in 24 hours and -4% in 7 days) after Friday’s sharp sell-off. It will soon be apparent whether support at the $2 trillion level has turned into resistance. Bitcoin is trading just below $55K on Monday […]