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Key Highlights GBP/USD started a downside correction from the 1.2732 zone. It traded below a key bullish trend line with support at 1.2640 on the 4-hour chart. The UK Claimant count could change by 20.3K in Nov 2023, up from 17.8K. The US CPI could decline further to 3.1% in Nov 2023 (YoY) from 3.2%. […]

The post GBP/USD Consolidates, US CPI and UK Employment Reports Next appeared first on Action Forex.

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21/12/2023

USD/JPY Eyes Inflation, BoJ Minutes

Japan’s core inflation expected to slow to 2.5% US GDP expected to confirm estimate of 5.2% The Japanese yen is in positive territory on Thursday. In the European session, USD/JPY is trading at 142.85, down 0.61%. Later today, the US releases third-estimate GDP for the third quarter, which is expected to confirm that the economy […]
20/03/2024

EURJPY Wave Analysis

EURJPY broke pivotal resistance level 163.40 Likely to rise to resistance level 164.35 EURJPY today broke above the pivotal resistance level 163.40 (which stopped the previous waves 3 and (b), as can be seen from the daily EURJPY chart below). The breakout of the resistance level 163.40 continues the active minor impulse wave 5 of […]
25/07/2024

Elliott Wave Analysis: USDCAD Turning Upside from Sideways

Hello traders, welcome to a new blog post. Today, we will discuss USDCAD as the pair is set to break out of a range that has lasted over two years. How soon can the breakout happen? In May 2021, USDCAD completed a five-year-long bearish corrective cycle that started in January 2016. Since then, the long-term […]