Logo-color Logo-white

The Euro continues to trend lower and pressures 1.1500 support zone (round-figure / 50% retracement of 1.1065/1.1918 rally) in early Monday’s trading. The bear-leg that emerged from a double bull-trap at the base of thick daily cloud, extends into fourth consecutive day. Break below former higher base (1.1542) completed bearish failure swing pattern on daily […]

The post EUR/USD: Consolidation Likely to Precede Push Through Important 1.1500 Support Zone appeared first on Action Forex.

previous

EUR/USD Under Sustained Pressure as Markets Await Key Data

next

Dollar Regaining Authority

Read More

12/06/2024

Gold (XAU/USD) Vulnerable Heading Into US CPI and FOMC Releases

Gold struggles for direction ahead of key US data releases as geopolitics take a backseat. People’s Bank of China (PBoC) pauses gold buying following 18-Month spree. Downside momentum appears to be building as buyers lack conviction. Fundamental Overview Gold has edged higher this week yet remains under pressure heading into the US inflation data release […]
15/03/2024

Is USDCAD Poised for Another Bullish Round?

USDCAD brings key resistance in focus after rebound Technical signals are encouraging, but a bullish outlook expected above 1.3600 USDCAD made a strong comeback on Thursday, surpassing its simple moving averages (SMAs) and breaching the 1.3500 level after encountering fresh buying around the familiar long-term line from November 2022. The 50% Fibonacci retracement of the […]
05/12/2024

US: ISM Services Index Tumbles to Lowest Print Since June, But Still Points to Growth

The ISM Services index fell 3.9 points to 52.1 in November, well short of the 55.7 consensus expectations. Fourteen industries out of eighteen reported growth, the same as in October. Broad based weakness across component sub-indexes weighed on the headline measure. Business activity and new orders both suggested ongoing growth (53.7) despite falling 3.5 and […]