Logo-color Logo-white

DXY: The DXY (US Dollar Index), the overall momentum of the chart is bearish, suggesting a potential download movement in price. In this scenario could potentially make a Bearish continuation towards the 1st support. The 1st support at 102.30 is identified as a pullback support. This suggests that it’s a significant level where buying interest […]

The post Technical Outlook and Review appeared first on Action Forex.

previous

USDJPY Shows Incomplete Elliott Wave Bearish Sequence

next

Nothing Says ‘Let’s Save the Planet’ Like a Summit Led by a Big Oil CEO

Read More

06/04/2024

The Weekly Bottom Line: Don’t Bet on June

U.S. Highlights Treasury yields shot higher this week, as expectations for a June rate cut fell. The U.S. economy had another strong month of hiring in March – adding 303k jobs – while the unemployment rate ticked down to 3.8%. Seven voting FOMC members were out speaking this week and the messaging was consistent: policymakers […]
03/07/2024

AUD/USD Sees Uptick Amidst Mixed Sentiment

AUD/USD has climbed to 0.6676 yet remains in a “sideways” pattern, indicating a lack of clear directional momentum in the market. The Australian dollar’s appreciation is linked to a softening in the US dollar’s stance, influenced by remarks from Federal Reserve Chair Jerome Powell. Powell highlighted the need for further economic data to assess the […]
11/12/2023

Technical Outlook and Review

DXY: The DXY chart currently exhibits a bearish overall momentum, and there’s potential for a bearish reaction off the 1st resistance level, suggesting a possible downward movement towards the 1st support. The 1st support at 102.60 is categorized as an overlap support, which implies that it could be a significant level where buying interest may […]