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Key Highlights USD/JPY is showing signs of a downside correction from 148.80. It traded below a key bullish trend line with support at 147.75 on the 4-hour chart. EUR/USD is struggling to recover above the 1.0900 resistance zone. The US GDP grew at a 3.3% annual rate in the fourth quarter of 2023. USD/JPY Technical […]

The post USD/JPY Signals Downside Correction, US GDP Grew 3.3% appeared first on Action Forex.

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14/08/2024

Sunset Market Commentary

Markets July US CPI inflation figures printed very close to consensus. Monthly inflation accelerated both on a headline and on a core level to 0.2% M/M. Details showed food prices rising by 0.2% M/M, energy prices flat, and services (ex. energy) rising by 0.3% M/M. The main disinflationary impact came again from used cars and […]
19/01/2024

EURCHF Wave Analysis

EURCHF broke resistance level 0.9410 Likely to rise to resistance level 0.9500 EURCHF currency pair recently broke the key resistance level 0.9410 intersecting with the 50% Fibonacci correction of the previous downward impulse from December The breakout of the resistance level 0.9410 accelerated the active short-term ABC correction 4. Given the strong Swiss franc sales […]
12/03/2024

EURUSD in the Middle of 2020-2022 Downtrend

EURUSD trades neutral as US CPI inflation data loom Short-term upleg intact but risks remain below 1.0968 EURUSD has been capped below the 50% Fibonacci retracement of the 2020-2022 downtrend at 1.0945 since Friday’s flash spike halted near the 1.0980 level and around the resistance trendline from May 2021 on Friday. The US CPI inflation […]