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As shown on the XBR/USD chart, the Brent crude oil price formed a bullish gap at the opening of financial markets this Monday, surpassing last week’s high. Only three days ago, we drew attention to Donald Trump’s statement that a decision regarding US involvement in the Iran-Israel conflict would be made within two weeks – […]

The post Oil Price Surges at Monday Open Amid US Strikes on Iran appeared first on Action Forex.

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22/08/2024

Japanese Yen Price Action Ideas: USD/JPY, EUR/JPY

The Japanese Yen has seen significant volatility in recent weeks, influenced by factors like US Dollar recovery and mixed Japanese economic data. USD/JPY shows potential for retesting the 150.00 level, with resistance at 146.37 and support around 143.60. EUR/JPY mirrors USD/JPY’s movements, with resistance at 163.50 and the potential for a 200-pip rally if it […]
29/11/2024

Elliott Wave View: US Dollar Index Turning Lower

Dollar Index (DXY) has reached 100% Fibonacci extension from 7.17.2023 low and ended the cycle. The rally is unfolding as a double three Elliott Wave structure. Up from 7.17.2023 low, wave (W) ended at 107.34 and wave (X) pullback ended at 100.15. Wave (Y) higher ended at 108 which completed wave ((W)) in higher degree […]
27/11/2024

EUR/USD Steady Ahead of Major US Data Releases

EUR/USD remains stable at around 1.0483 as markets digest the implications of the latest FOMC minutes. The Federal Reserve signalled a potential pause in rate cuts if inflation reaccelerates but also indicated readiness to continue easing if economic indicators weaken. Today promises heightened activity for EUR/USD due to a slew of US economic data releases. […]