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EURUSD trims recent gains ahead of US jobs data Short-term downward trajectory stays intact Bulls need a clear bounce above 1.0800 EURUSD could not sustain gains above the 1.0800 number and its 20- and 200-period exponential moving averages (EMAs) in the four-hour chart, staying within the tight bearish channel, which followed November’s peak of 1.1016. The […]

The post EURUSD Retains Short-Term Negative Trend appeared first on Action Forex.

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17/07/2024

EUR/USD Rallies Toward Key Confluence Zone Amid Accelerating DXY Selloff

Eurozone inflation remained stable at the end of Q2 2024, with core inflation for services and non-energy goods unchanged at 4.1% and 0.7% respectively. EU services inflation remains persistently high and is unlikely to decrease significantly in the near future. A challenge for the ECB? EUR/USD is approaching a key resistance zone around 1.0950 ahead […]
04/07/2024

Brent Crude – Oil Runs into Resistance as EIA Inventories Fall

Brent Crude oil prices rose on Wednesday due to a larger-than-expected draw in US crude inventories. The market anticipates further inventory reduction, leading to potential support for prices in Q4. Technical analysis suggests bullish continuation, with a key resistance level at 87.90 and potential for a move towards 90.00 if this level is breached. Brent […]
26/01/2024

AUDUSD Hovers Around 200-day SMA after Decline Halts

AUDUSD pauses short-term retreat at December low Double bottom pattern triggers a rebound, but 200-SMA holds strong Momentum indicators remain heavily tilted to the downside AUDUSD experienced a vast selloff following its December peak of 0.6870, breaking below both its 50- and 200-day simple moving averages (SMAs). Although the pair managed to halt its retreat at […]