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USDJPY eases on Tuesday as traders reacted on overbought daily studies, but dips are likely to be limited and mark a healthy correction of larger uptrend. Technical picture on daily chart remains bullish (strong positive momentum / moving averages in bullish configuration) keeping in play expectations for final push towards key barriers at 150.90/94 (peaks […]

The post USD/JPY: Bulls to Remain in Play While Holding Above Broken Fibo Barrier appeared first on Action Forex.

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13/11/2024

GBP/USD Outlook: Bears Take a Breather After Sharp Three-Day Fall

Cable is holding within a narrow consolidation in early Wednesday’s trading as bears started to run out of steam after steep fall (down 1.85%) in past three days. Tuesday’s break and close well below pivotal supports at 1.2846 (Fibo 76.4% of 1.2664/1.3434 / former base) and 1.2817 (200DMA) generated strong bearish signal. Markets await release […]
21/05/2024

PMIs in Focus This Week

In focus today Today, we look out for several Fed speakers as Williams, Barkin, Barr, Bostic and Waller are all speaking. In Denmark, we get Q1 preliminary GDP figures, which we expect to be unchanged compared to the very impressive Q4 figures of last year. Further, refinancing auctions of mortgage loans will have the Danish […]
19/11/2024

GBP/USD Struggles Ahead: Will It Break Through Key Levels?

Key Highlights GBP/USD extended losses and tested the 1.2600 support. A connecting bearish trend line is forming with resistance at 1.2700 on the 4-hour chart. Bitcoin started a consolidation phase near the $90,000 zone. Oil is correcting losses and trading near the $69.50 zone. GBP/USD Technical Analysis The British Pound started a fresh decline below […]