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The forex market was relatively quiet during the Asian trading session, with only minor changes seen across currencies. There was a slight dip in commodity currencies due to weaker-than-expected manufacturing data from China, though this was somewhat balanced by better results from the Caixin PMI report. This week will be crucial as traders look for […]

The post GBPUSD & EURUSD Outlook appeared first on Action Forex.

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28/12/2023

AUDUSD Extends Recovery; Crucial Double Top in Sight

AUDUSD hits a fresh five-month peak on Thursday But oscillators have been in overbought levels for several sessions Can the rally resume or are we heading for a pullback? AUDUSD has been staging a solid recovery following its 2023 bottom of 0.6271 in October, generating a clear structure of consecutive higher highs. However, the risk of an […]
21/06/2024

Japanese Yen Trades Stoic After Closing at New 34-y Low

Markets US invertors returning after Wednesday’s Juneteenth holiday found some disappointing, admittedly mostly second tier, US data (jobless claims at a high 238k, housing starts and permits declining and the Philly Fed business outlook unexpectedly easing). US bond markets didn’t take notice. Yields even regained slightly ground rising between 2.5 bps (2-y) and 4.2 bps […]
06/09/2024

US 500 Index Could See Further Weakness

US 500 index posts negative days lately Next support at long-term rising trend line Momentum oscillators confirm bearish correction The US 500 cash index is recording the fourth straight negative session, losing more than 3%. The price is currently retreating beneath the 5,565 strong resistance level as well as below the 20- and the 50-day […]