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Interest rates expected to hold stable at a 15-year high of 5.5% NZ inflation is still problematic; will the RBNZ talk about a rate hike again? NZDUSD bulls have some work to do; must surpass 0.6188-0.6200 to gain more fuel Kiwi has poor performance  The New Zealand dollar has faced difficulties this year in its […]

The post Spotlight on Kiwi as RBNZ Decides on Rates Next Week appeared first on Action Forex.

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30/11/2023

USDJPY Shows Incomplete Elliott Wave Bearish Sequence

USDJPY shows incomplete bearish sequence from 11.13.2023 suggesting further downside. Down from 11.13.2023 high, decline is unfolding as a double three Elliott Wave structure. Down from 11.13.2023 high, wave (W) ended at 147.15. Wave (X) ended at 149.78 with internal subdivision as a double three in lesser degree. Up from wave (W), wave W ended […]
21/12/2023

EURUSD Rangebound After Forming a Double Top

EURUSD gets rejected a tad below its recent 4-month peak A failure to claim that level could validate a double top structure Momentum indicators lose steam but remain positive EURUSD experienced a solid correction from its recent four-month high of 1.1016, but the pair managed to erase most of it, following a decisive break above the 200-day simple moving average […]
02/04/2024

GBPUSD May See Support Soon From Inflection Area

Short Term Elliott Wave view in GBPUSD suggests that decline from 3.8.2024 high is unfolding s an impulse Elliott Wave structure. Down from 3.8.2024 high, wave (i) ended at 1.2745 and wave (ii) rally ended at 1.2823. Wave (iii) lower ended at 1.273 and wave (iv) ended at 1.2747. Final leg wave (v) ended at […]