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GBPUSD remains in negative area But holds beyond the downtrend line RSI and MACD give some optimistic views GBPUSD is experiencing a new bullish attempt to remain above the short-term descending trend line, but the 200-day simple moving average (SMA) at 1.2815 appears to be a tough obstacle for traders. If the market overcomes the aforementioned barrier, […]

The post GBPUSD Capped By 200-Day SMA appeared first on Action Forex.

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05/01/2024

S&P 500 Index Wave Analysis

S&P 500 index reversed from resistance level 4800 Likely to fall to support level 4600.00 S&P 500 index recently reversed down from the major long-term resistance level 4800.00 (which stopped the sharp weekly uptrend at the end of 2021). The resistance level 4800.00 was strengthened by the upper daily and weekly Bollinger Bands. Given the […]
02/07/2024

EUR/USD Outlook: Post-French Election Rally So Far Capped by Thickening Daily Cloud

EURUSD opened with gap-higher and rose to three-week high in early European trading on Monday, lifted by results of the first round French parliamentary election. Rally was capped by the base of thickening daily cloud, following last week’s cloud twist, with subsequent easing, pointing to strength of 1.0778/1.0800 resistance zone (daily cloud, spanned between 1.0777 […]
04/04/2024

Silver Wave Analysis

Silver broke major resistance zone Likely to rise to resistance level 28.00 Silver under the bullish pressure after the recent breakout of the major resistance zone located between the resistance levels 26.15 and 26.90 (previous yearly highs from 2022 and 2023). The breakout of the resistance levels 26.15 and 26.90 accelerated the active impulse waves […]