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AUD/USD is consolidating gains near the 0.6620 zone. NZD/USD is trimming gains and struggling to stay above the 0.6000 pivot zone. Important Takeaways for AUD/USD and NZD/USD Analysis Today The Aussie Dollar started a downside correction from 0.6640 against the US Dollar. There is a key bullish trend line forming with support at 0.6610 on […]

The post Market Analysis: AUD/USD Rallies While NZD/USD Trims Gains appeared first on Action Forex.

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Soft-Landing, or No Soft-Landing, That Is the Question: Part II

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30/01/2024

EURUSD – Repeated Probe Through Pivotal Supports Adds to Negative Near-term Bias

Bearish pressure rises on break below 200DMA (1.0841) and probe through 1.0821 Fibo support (76.4% retracement of 1.0723/1.1139 upleg), as fresh bears also violate the floor of four-day congestion. Firm break lower to signal continuation of short-term downtrend from 1.1139 (Dec 28 peak) and expose targets at 1.0771 / 56 (100DMA / daily cloud base) […]
14/03/2024

March Flashlight for the FOMC Blackout Period

Summary We do not expect the FOMC to change the federal funds rate or alter its current pace of balance sheet runoff at its upcoming meeting on March 19-20. Since the Committee last met, the U.S. inflation data have come in a bit stronger than expected, while the labor market generally has remained resilient. With […]
04/06/2024

Oil Prices Dive: Is a Rebound on the Horizon?

Key Highlights Crude oil prices extended losses below the $76.80 support. There was a break below a key expanding triangle with support at $76.20 on the 4-hour chart. GBP/USD gained pace for a move above the 1.2750 resistance. EUR/USD shows positive signs for a move toward the 1.0950 resistance. Crude Oil Price Technical Analysis In […]