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EURJPY is in a steady uptrend, threatening multi-year peak But oscillators point to overbought conditions EURJPY has been in a steady advance since the beginning of May following its bounce off the long-term ascending trendline. However, the risk of a pullback has increased as the price is approaching its 40-year high of 171.56 given that momentum indicators […]

The post EURJPY Advances Towards 40-Year High appeared first on Action Forex.

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WTI Crude Oil Price Shows Bullish Trend Ahead of OPEC Meeting

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EUR/USD: Bulls Hold Grip and Eye Key Barriers as Markets Await Release of German CPI Data

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26/04/2024

USD/JPY Sets New Multi-Decade High, Bulls In Control

Key Highlights USD/JPY rallied further above the 155.00 resistance. A major bullish trend line is forming with support at 155.20 on the 4-hour chart. EUR/USD is struggling to clear the 1.0750 resistance zone. Crude oil prices could decline and revisit the $81.00 level. USD/JPY Technical Analysis The US Dollar remained in a strong uptrend above […]
08/06/2024

Weekly Economic & Financial Commentary: G7 Central Banks Ease into Summer with Rate Cuts

Summary United States: July Cut Bites the Dust; September Hanging on Edge of Its Seat The strong job gain and rebound in average hourly earnings in May reaffirm our expectation that a rate cut remains some time away and is increasingly dependent on a few slower inflation reports. Next week’s CPI report and the FOMC’s […]
17/05/2024

USDCHF Wave Analysis

USDCHF reversed from round support level 0.9000 Likely to rise to resistance level 0.9100 USDCHF currency pair recently reversed up from the round support level 0.9000 (which stopped the previous corrections iv, 4 ii, 1). The support level 0.90000 was strengthened by the lower daily Bollinger Band and by the 50% Fibonacci correction of the […]