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Bulls are taking a breather and consolidating just under key barriers at 150.90/94 (2023/22 tops) after strong rally in past two weeks. USDJPY was inflated by a wide gap between US and Japan’s interest rates, with no positive impact from BoJ’s rate hike last week, as investors do not expect the central bank to be […]

The post USDJPY- Bulls Hold Grip for Further Gains after Consolidation appeared first on Action Forex.

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06/09/2024

US: Despite Broader Growth Concerns, Service Sector Improves

Summary The services ISM notched a modest gain in August, quelling for now concerns about stalling growth. While the prices paid measure rose, the employment measure indicates a jobs market that is in a decidedly lower gear than it was as recently as earlier this year. ISM Rises to Three-Month High A run of lousy […]
13/12/2023

CADCHF Wave Analysis

CADCHF reversed from resistance level 0.6490 Likely to support level 0.6410 CADCHF currency pair recently reversed down from the strong resistance level 0.6490 (former strong support from October) intersecting with the upper daily Bollinger Band. The downward reversal from the resistance level 0.64879 stopped the previous minor correction ii. Given the predominant daily downtrend, CADCHF […]
01/08/2024

GBP/USD Eyes Rebound: Can It Regain Strength?

Key Highlights GBP/USD declined steadily before the bulls appeared at 1.2800. It cleared a connecting bearish trend line with resistance at 1.2840 on the 4-hour chart. Gold started a fresh increase and surpassed the $2,400 resistance. EUR/USD remained stable above the 1.0800 pivot zone. GBP/USD Technical Analysis The British Pound started a downside correction from […]