Logo-color Logo-white

DXY: The DXY (US Dollar Index) chart currently exhibits bullish momentum, suggesting a potential bullish bounce off the 1st support level followed by a movement towards the 1st resistance. The 1st support level at 103.79 is identified as an overlap support, indicating a historical level where buying interest has previously emerged to support the price. […]

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

previous

Gold Rises But Within a Downward Channel

next

The Weekly Bottom Line: Coming Off the Boil?

Read More

20/05/2024

EURUSD Fails to Surpass 1.0900

EURUSD holds above medium-term downtrend line Oscillators indicate bearish structure EURUSD appears to be maintaining a horizontal trajectory in the very short-term, trapped between the 1.0895 resistance level and the 1.0814 support. A paused state of directional momentum is reflected in the technical oscillators. The stochastic posted a bearish crossover within its %K and %D lines in […]
15/07/2024

Nikkei Index Has Risen To a Two-Month High

As we reported on 26th June, analysing the Nikkei 225 chart (Japan 225 on FXOpen): → The price is in a significant upward trend (shown by the blue channel); → The price may continue to rise along the median line. Since then, the Nikkei 225 index (Japan 225 on FXOpen) has increased by more than […]
06/03/2024

Dollar Index in Limited Range Ahead of Key Economic Events

The dollar index holds in red but within a narrow range in early Wednesday, as traders reduce speed ahead of today’s key events, US labor data and the speech of Fed Chair Powell. Weaker than expected US services PMI in February, released on Tuesday, added to negative sentiment, though dips were again contained by 200DMA […]