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NZDUSD is up almost 5% so far in August Further gains are likely, but risk of near-term correction is high NZDUSD is trading near seven-month highs on Wednesday, as the pair continues its August bull charge. However, there appears to be some resistance in the 0.6250 area where the intersecting long-term descending trendline is providing […]

The post NZDUSD Still Bullish But Rally Looks Overstretched appeared first on Action Forex.

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Sunset Market Commentary

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11/01/2024

Sunset Market Commentary

Markets It’s another stoic trading day where market driving news was scant. A Spanish bumper syndication was a sign of bond markets for the time being absorbing supply with ease The country racked in a record €137bn of bids for a sale with a rumoured size of €15bn. The US tests the market later today […]
15/01/2024

CHFJPY Wave Analysis

CHFJPY reversed from resistance level 170.50 Likely to fall to support level 168.95 CHFJPY currency pair recently reversed down from the key resistance level 170.50 (former double top from November). The downward reversal from the resistance level 170.50 created the daily candlesticks reversal pattern Dark Cloud Cover. Given the overbought daily Stochastic, CHFJPY currency pair […]
12/12/2024

Japanese Yen Loses Ground on Shifting Interest Rate Expectations

The Japanese Yen has lost 2.3% against the US dollar since the end of last week, roughly twice as much as the rise in the dollar index against a basket of six developed market currencies. This change is due to a shift in interest rate expectations, with investors increasingly doubting an imminent rate hike in […]