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EURJPY struggles to drop beneath 38.2% Fibonacci MACD and RSI have weak momentum EURJPY has been developing within a trading range of 155.15-164.00 over the last couple of months, with strong resistance coming from the 200-day simple moving average (SMA) around 164.40. Technically, the RSI is pointing slightly above the neutral threshold of 50; however, […]

The post EURJPY Moves Within Consolidation Area appeared first on Action Forex.

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07/06/2024

EURUSD Struggles to Close Above 1.0900

EURUSD constrained below May’s barrier of 1.0894 Technical signals reflect uncertainty Sellers could take control below 1.0830 Despite a false bullish breakout to 1.0915 earlier this week, EURUSD has been struggling to close above May’s bar of 1.0894. From a technical perspective, traders are indecisive as the RSI in the four-hour chart is lacking direction above its […]
21/08/2024

EUR/USD Outlook: Bulls Taking a Breather Under New 2024 High, Eye Fresh Signals from Fed

EURUSD reduced speed after steep rally in past three days which hit new 2024 top (1.1132) just ticks ahead of Dec 2023 top (1.1139). The single currency continues to benefit from risk appetite and weak dollar on Fed rate cut expectations, with release of FOMC minutes today, to shed more light on the depth of […]
30/08/2024

AUD/USD Poised for Potential Rise Amid RBA’s Cautious Stance

The AUD/USD pair shows signs of potential resurgence as it trades near 0.6802, consolidating within a sideways range at its local peaks towards the end of August. The Australian dollar has appreciated by almost 4% over the month, bolstered by high consumer price index figures that underline persistent inflationary pressures in Australia. In July, Australian […]