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The US Dollar Index (DXY) is in an intriguing position after mixed price action and ahead of PPI data. The future of the dollar may be influenced by external factors like oil prices and Middle East tensions. Technically, the DXY is facing resistance and a potential pullback, but underlying fundamentals remain supportive. The US Dollar […]

The post US Dollar Index (DXY) Outlook: Dollar Bulls to Take a Breath or PPI Data to Extend Rally? appeared first on Action Forex.

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EURJPY Moves Within Consolidation Area

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15/03/2024

US100: Consolidated and Preparing Correction Below 18100. Key Levels on H4

Bearish Scenario: Shorts below 18100 with TP1: 17900, TP2: 17814, and 17630 with S.L. above 18130 or at least 1% of account capital*. Anticipated Bullish Scenario: Intraday longs above 18130 with TP: 18219, TP2: 18270, and TP3: 18428, with S.L. below 18050 or at least 1% of account capital*. Apply trailing stop. Bullish Scenario after […]
18/09/2024

USD/JPY Rebounds After US Retail Sales Beats Estimate

The Japanese yen is down sharply on Tuesday. USD/JPY is up 0.73% today, trading at 141.64 in the North American session at the time of writing. On Monday, the yen pushed below 140 per dollar for the first time since July 2023. The yen has looked razor sharp, gaining 2.9% in the month of September […]
25/07/2024

EUR/JPY Outlook: Falls to New Multi-Week Low After Break of Key Support

EURJPY extends steep fall into fifth straight day and hit 11-week low in early Thursday (down 1% in Asian session). Recent interventions by Japan’s authorities boosted yen across the board and fresh strength gained strong momentum, suggesting that the currency could rise further. Wednesday’s close below pivotal support at 166.91 (daily cloud base / Fibo […]