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Key Highlights USD/JPY extended gains above the 154.00 level. A major bullish trend line is forming with support at 153.95 on the 4-hour chart. EUR/USD is struggling to recover above 1.0720. Crude oil prices declined below the $83.50 support zone. USD/JPY Technical Analysis The US Dollar settled above the 150.00 level to move further into […]

The post USD/JPY Stages More Upsides, Can Bulls Aim For 160? appeared first on Action Forex.

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Cliff Notes: Seeking Clarity on Labour Market Conditions

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03/04/2024

NZDUSD Halts Decline at 23.6% Fibonacci

NZDUSD declines sharply within descending channel Drops below both 50- and 200-day SMAs to a 4-month low Oscillators remain deep in their negative territories NZDUSD has been in an aggressive downtrend since its double rejection at the 0.6217 level in early March. Despite dropping to a fresh four-month bottom this week, the pair seems to be finding its footing […]
11/01/2024

Rising (US) Yields Should Provide a Bottom for Dollar

Markets ECB’s Schnabel triggered some unexpected market action yesterday. The German board member lived up to her hawkish reputation by noting that talk about rate cuts is premature. That’s more so because the recent decline in bond yields, exactly because of rate cut expectations, have loosened financial conditions more than thought. Combined with sentiment indicators […]
16/09/2024

GBPCAD Wave Analysis

GBPCAD reversed from strong resistance level 1.7850 Likely to fall to support level 1.7700 GBPCAD currency pair today reversed down from the strong resistance level 1.7850, which stopped the previous impulse waves (i) and i in July and August respectively. The resistance level 1.7850 was further strengthened by the upper daily Bollinger Band. Given the […]