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Key Highlights EUR/USD started a downside correction from the 1.1820 resistance zone. There is a declining channel forming with resistance at 1.1700 on the 4-hour chart. GBP/USD also corrected gains and traded below the 1.3550 level. Gold recovered above the $3,320 level and tested the $3,365 resistance. EUR/USD Technical Analysis The Euro started a downside […]

The post EUR/USD Begins Downside Correction — Support Levels in Focus appeared first on Action Forex.

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03/04/2024

Brent Crude Oil Wave Analysis

Brent crude oil broke resistance level 86.70 Likely to rise to resistance level 90.00 Brent crude oil recently broke the resistance level 86.70, which reversed the price with the daily Evening Star in March. The breakout of the resistance level 86.70 was preceded by the breakout of the resistance trendline of the daily up channel […]
30/04/2025

Australia: March Quarter CPI Locks in Rate Cut

Headline CPI 0.9%qtr/2.4%yr; Trimmed Mean 0.7%qtr/2.9%yr; Weighted Median 0.7%qtr/2.9%yr. Momentum in core inflation at the bottom of the band. The CPI gained 0.9% in the March quarter, stronger than market consensus (0.8%) and Westpac’s expectation (0.7%) but we did highlight upside risk to our estimate. The annual pace of headline inflation, at 2.4%yr now definitively […]
21/11/2024

EUR/USD Outlook: Continues to Move Within Extended Consolidation Range, But Larger Bears Hold Grip

EUR/USD remains biased lower as near term action stays within extended consolidation range above 13-month low (1.0495), with the upside being capped by solid barriers at 1.0600 zone (former low of Apr 16 / Fibo 23.6% of 1.0936/1.0495 / falling 10 DMA). Negative 14-d momentum and daily MA’s in full bearish setup support scenario, with […]