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Key Highlights USD/JPY remained in a positive zone above the 148.50 support zone. A short-term bullish trend line is forming with support at 149.25 on the 4-hour chart. EUR/USD declined heavily and traded below the 1.0840 support. Oil prices are at risk of more downsides below the $69.75 support. USD/JPY Technical Analysis The US Dollar […]

The post USD/JPY Set for More Gains: Is The Uptrend Here To Stay? appeared first on Action Forex.

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10/09/2024

Analysis of GBP/USD Today: Bulls Face Challenges

UK labour market data was released today. According to Dow Jones Newswires: → Employment growth exceeded expectations, and unemployment benefit claims came in lower than forecast. ING analysts believe this supports the view that the Bank of England will cut interest rates more cautiously compared to the Federal Reserve. → Capital Economics analysts also suggest […]
08/04/2024

Euro Edges Lower, German Industrial Production Jumps

The euro is calm at the start of the trading week. In the North American session, EUR/USD is trading at 1.0830, down 0.07%. German industrial production rises 2.1% Is the German economy coming out of a downswing? The week started on a positive note as industrial production jumped 2.1% y/y in February, up from a […]
09/04/2024

EUR/USD: Holds in Extended Sideways Mode, Initial Negative Signals Developing on Daily Chart

Near-term action remains in a directional mode and ranging between converged 55/200DMA’s (1.0831) and 100DMA (1.0871). Strong rejections in both directions in past few sessions add to neutral stance, with the pair looking for fresh direction signals. Daily studies are mixed, though 14-d momentum bearish divergence and overbought stochastic seen as warning. Expect initial bearish […]