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Key Highlights USD/CHF declined heavily below the 0.8700 support and tested 0.8430. A major bearish trend line is forming with resistance at 0.8600 on the 4-hour chart. Bitcoin started a recovery wave from the $48,500 zone. Gold corrected gains and might revisit the $2,350 support. USD/CHF Technical Analysis The US Dollar started a major decline […]

The post USD/CHF: Can The Dollar Rebound from Its Plunge? appeared first on Action Forex.

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15/12/2023

AUDUSD Looks for Bullish Expansion

AUDUSD marks new higher high, breaks key resistance area Short-term bias positive, but 0.6715 zone adds some pressure AUDUSD experienced a spectacular rally after a dovish FOMC policy meeting earlier this week, crawling as high as 0.6727 on Thursday – the highest level since the end of July. The bulls have finally breached the resistance […]
22/12/2023

USD/JPY Remains In Downtrend, US GDP Disappoints At 4.9%

Key Highlights USD/JPY failed to clear the 145.00 resistance zone and declined. A major bearish trend line is forming with resistance at 144.00 on the 4-hour chart. EUR/USD and GBP/USD remained in a positive zone and eye more gains. The US GDP grew 4.9% in Q3 2023, less than the market forecast of 5.2%. USD/JPY […]
18/12/2023

EUR/USD Tops Again But Can This Key Support Hold?

Key Highlights EUR/USD failed again to clear the 1.1010 resistance. A key bullish trend line is forming with support near 1.0860 on the 4-hour chart. GBP/USD also started a downside correction from the 1.2780 zone. Gold prices are struggling to stay above the $2,000 pivot level. EUR/USD Technical Analysis The Euro gained bullish momentum after […]