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Key Highlights USD/JPY started a fresh decline below the 145.00 level. A short-term contracting triangle is forming with resistance at 143.10 on the 4-hour chart. EUR/USD could aim for a move above the 1.1420 resistance zone. Gold prices traded to a new record high above $3,350 and started a consolidation phase. USD/JPY Technical Analysis The […]

The post USD/JPY Bears Take Control—Further Decline Possible appeared first on Action Forex.

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11/06/2024

Aussie Edges Lower as Business Confidence Slips

The Australian dollar has declined by 0.28% on Tuesday. AUD/USD is trading at 0.6600 in the European session, down 0.16% on the day. On the data calendar, Australian NAB business confidence was weak and there are no economic releases out of the US. Australian business confidence falls to six-month low Australia’s NAB business confidence index […]
05/08/2024

EUR/USD Analysis: The Rate Has Risen to a Nearly 5-Month High

As shown by today’s EUR/USD chart, the rate rose this morning to 1.096 – its highest level since mid-March. On one hand, this was driven by the weakness of the dollar. The USD fell sharply against other currencies following the release of labour market news on Friday (data from ForexFactory hereafter): → The unemployment rate […]
29/05/2024

EUR/USD Slips as USD/CHF Targets Upside Break

EUR/USD started a downside correction from the 1.0890 resistance. USD/CHF is rising and might aim a move toward the 0.9155 resistance. Important Takeaways for EUR/USD and USD/CHF Analysis Today The Euro struggled to clear the 1.0890 resistance and declined against the US Dollar. There was a break below a key bullish trend line with support […]