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EURUSD regained traction and rose above 1.08 handle in early US trading on Friday, as hotter than expected US inflation and higher consumer spending failed to impress traders, concerned about slower economic growth. Fresh strength broke above the top of two-day congestion and generating initial basing and reversal signal after recent pullback from 1.0954 (Mar […]

The post EUR/USD: Reversal Signal Developing on Daily Chart appeared first on Action Forex.

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20/06/2024

AUDUSD Extends Sideways Movement

AUDUSD trades back and forth within its range The ascending 50-day SMA acts as a strong floor Oscillators remain tilted to the bullish side AUDUSD has been trading sideways for more than a month now as the price has been unable to jump above the five-month high of 0.6713. However, the pair’s downside also seems to […]
15/01/2024

Dollar Index: Firmer Tone Keeps in Play Hopes for Test of Near-Term Range Top

The dollar index keeps positive tone in holiday-thinned Monday’s trading and attempting again through pivotal Fibo barrier at 102.27 (50% retracement of 104.27/100.29 bear-leg), where the action failed several times recently. Sustained break here to improve near-term picture and shift focus to the upside for potential attack at key barriers at 102.74/84 (recent range top […]
01/03/2024

USDJPY Wave Analysis

USDJPY reversed from resistance level 151.35 Likely to fall to support level 147.90 USDJPY currency pair recently reversed down from the powerful long-term resistance level 151.35 (previous yearly high from 2022 and 2023). The downward reversal from the resistance level 151.35 stopped the previous weekly ABC correction 2 from the end of last year. Given […]