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GBPUSD corrects lower after hitting resistance at 1.2800 Technical signals weaken, but key support levels are underneath GBPUSD rose exponentially in the aftermath of the FOMC policy meeting, but the ascending line drawn from the December 2023 low interrupted the rally near the 1.2800 level and forced a new bearish move on Thursday before the […]

The post GBPUSD Trims FOMC Rally Amid a Busy Day appeared first on Action Forex.

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05/01/2024

NZD/JPY Price Analysis: Rises Sharply and Shifts Bullish After Reclaiming 90.00

NZD/JPY’s 0.70% surge driven by Japanese Yen’s broad weakness, indicating a bullish turn above the Ichimoku cloud. Upcoming resistance challenges include cycle high at 90.43 and the key 91.00 psychological level. Bears could regain ground, targeting supports at Kumo’s top, the Kijun-Sen, and Kumo’s bottom. The NZD/JPY soared sharply and posted gains of more than […]
08/08/2024

EUR/USD Outlook: Looks for Clearer Direction Signal

EUR/USD edged higher in Asia / early Europe on Thursday, hinting that pullback from Monday’s spike high (1.1009) might be over. Signals of formation of a higher base at 1.0900 zone add to positive near-term outlook, as technical studies on daily chart are predominantly bullish, though sustained break above 1.0950/60 zone needed to confirm. On […]
16/07/2024

Natural Gas Wave Analysis

Natural gas broke key support level 2.200 Likely to fall to support level 2.00 Natural gas recently broke the key support level 2.200, intersecting with the 61.8% Fibonacci correction of the sharp upward impulse from February. The breakout of the support level 2.200 accelerated the active impulse wave 3 of the sharp downward impulse wave […]