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Key Highlights EUR/USD extended losses and tested the 1.0500 support. A key bearish trend line is forming with resistance at 1.0585 on the 4-hour chart. GBP/USD also extended losses and traded below the 1.2720 support. Oil is consolidating losing and trading near the $67.25 zone. EUR/USD Technical Analysis The Euro started a fresh decline below […]

The post EUR/USD Eyes Recovery, But Gains May Be Capped appeared first on Action Forex.

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22/12/2023

USDCHF Hits 2023 Floor

USDCHF tests July’s eight-year low Sellers might stay in power, but not for long Core PCE inflation due at 13:30 GMT It was another bearish week for USDCHF, with the price fully retracing its July-September upleg to reach July’s eight-year low of 0.8551. There is potential for an upside reversal around the 2023 floor of […]
26/07/2024

EURJPY Wave Analysis

EURJPY reversed from support level 165.00 Likely to rise to resistance level 168.00 EURJPY currency pair recently reversed up from the pivotal support level 165.00 (former strong resistance from March and April, which also stopped the previous correction 2 at the start of May). The support level 165.00 was strengthened by the 50% Fibonacci correction […]
18/01/2024

US Dollar Index Battles With SMAs Near 103.00

US dollar index fails to extend upside move from 100.27 200-day SMA acts as important resistance RSI weakens above 50 The US dollar index is currently struggling to surpass the significant 200-day simple moving average (SMA), which stands near the 103.20 barrier. The market is moving back and forth of the 50- and the 200-day […]