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The yen has edged lower on Thursday in what has been a quiet week. In the European session, USD/JPY is trading at 148.72, up 0.36%. Will Fed minutes provide clues for November meeting? The Federal Reserve will release the minutes of the September meeting later today. That meeting was a milestone as the Fed delivered […]

The post USD/JPY Eyes Fed Minutes appeared first on Action Forex.

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GBP/USD Consolidates as Bulls Eye a Potential Short-Term Pullback

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19/12/2023

Technical Outlook and Review

DXY: The DXY (US Dollar Index) chart currently shows an overall bearish momentum, indicating a potential for price to make a bearish reaction off the 1st resistance and fall towards the 1st support. The 1st resistance level at 102.61 is identified as an overlap resistance that aligns close to the 38.20% Fibonacci retracement level. Higher […]
21/12/2023

GBPJPY Showing Incomplete Bearish Sequence

Short Term Elliott Wave View in GBPJPY shows that it has ended wave ((3)) at 188.66. Pullback in wave ((4)) is currently in progress as a double three Elliott Wave structure. Down from wave ((3)), wave A ended at 185.06 and wave B ended at 186.18. Wave C lower made a strong drop ended at […]
21/05/2024

Elliott Wave Analysis Expects Dow Futures (YM) to Pullback in Wave 4

Short Term Elliott Wave in Dow Futures (YM) suggests rally from 4.19.2024 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from 4.19.2024 low, wave ((i)) ended at 38801 and pullback in wave ((ii)) ended at 37866. Index extends higher again in wave ((iii)) with internal subdivision as an impulse in lesser […]