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Action Forex • Fundamental Analysis • Published Sat, 01 Apr 2023 03:12 GMTU.S. Highlights FOMC voting members noted the interest rate path will depend on incoming data and highlighted the uncertainty surrounding the effects of regional bank stress on credit availability. Inflation remained relatively elevated, despite moderatin...
Action Forex • Fundamental Analysis • Published Sat, 01 Apr 2023 03:07 GMTUS Dollar Talking Points: The US Dollar is nearing the completion of Q1 with a net loss over the quarter. Weakness in January led to strength in February, but sellers came back in March to erase much of that bullish move. In Q2 the big question is whether...
Action Forex • Fundamental Analysis • Published Sat, 01 Apr 2023 03:04 GMTUS There are no prizes for guessing what the highlight next week will be. The US jobs report is widely regarded as being the most important economic report each month, although inflation probably currently just about edges it. The March report is expected...
• Technical Analysis • Published Fri, 31 Mar 2023 23:12 GMTOverview : The AUD/USD pair has faced strong resistances at the levels of 0.6724 because support had become resistance since a week. So, the strong resistance has already formed at the level of 0.6724 and the pair is likely to try to approach it in order...
• Technical Analysis • Published Fri, 31 Mar 2023 19:43 GMTETH/USD rallied in the short term and is trading at 1,830 at the time of writing. The bias is bullish, so further growth is natural. In the short term, it is moving sideways. The range pattern should announce further growth. Ethereum increased by 9.42% fr...
• Technical Analysis • Published Fri, 31 Mar 2023 19:42 GMTLitecoin retreated a little in the short term, but the buyers are still in the game. BTC/USD's growth should help the altcoin to jump higher as well. LTC/USD is trading at 89.12 at the time of writing and it seems undecided. In the last 24 hours, LTC/USD ...
• Technical Analysis • Published Fri, 31 Mar 2023 19:41 GMTBCH/USD is trading at 123.68 at the time of writing. After its strong drop, the rate found demand again and now is fighting hard to rebound. Technically, the rate is located in the buyers' territory. Bitcoin Cash increased by 4.80% from yesterday's low of...
• Technical Analysis • Published Fri, 31 Mar 2023 18:03 GMTThe price zone around 1.1500 has applied significant SELLING pressure upon the previous ascending movement towards it.Shortly after, the EUR/USD pair has been moving downwards reaching the price levels of 1.0850, 1.0400, 1.0000 and recently 0.9600.The mar...
• Technical Analysis • Published Fri, 31 Mar 2023 18:02 GMTIn the intermediate-term, the pair is just above the newly visited price levels around 0.9600 that haven't been visited since 2002.That's why, some bullish recovery was recently demonstrated especially around such an important psychological support.The ne...
• Technical Analysis • Published Fri, 31 Mar 2023 18:01 GMTonsiderable bullish momentum was initiated around 1.0400-1.0600 that could prevent further bearish decline.As the market was pursuing the current bullish movement, the newly-established ascending bottoms around 1.1150 and 1.1750 remained defended by the b...
• Technical Analysis • Published Fri, 31 Mar 2023 17:01 GMTBitcoin continues to move sideways in the short term. Still, the upside pressure remains high despite temporary retreats or sideways movements. The bias is bullish, so further growth is natural. BTC/USD is trading at 28,936 at the time of writing. BTC/USD...
• Technical Analysis • Published Fri, 31 Mar 2023 17:00 GMTCAD/JPY Temporary DropThe CAD/JPY pair dropped a little in the short term but this could be only temporary. The price could resume its growth as long as it stays above the uptrend line. It's trading at 98.18 at the time of writing. Technically, the uptren...
• Technical Analysis • Published Fri, 31 Mar 2023 16:59 GMTUSD/CHF Strong Sellers!The USD/CHF pair dropped deeper and is now trading at 0.9130. The downtrend line represents an upside obstacle, so as long as it stays below it, the rate could extend its downside movement. Its failure to reach and retest the downtr...
• Technical Analysis • Published Fri, 31 Mar 2023 16:58 GMTNZD/USD Imminent Breakout!The NZD/USD pair is located at 0.6263 at the time of writing. As you can see on the H1 chart, it stands below 0.6273 - 0.6291 supply zone (upside obstacle). The rate turned to the downside after reaching this zone, that's why thi...
• Technical Analysis • Published Fri, 31 Mar 2023 16:33 GMTThe last upward wave has caused more confusion with the wave analysis on the 4-hour chart for the euro/dollar pair. Given that the previous descending segment can be viewed as having completed three waves, this wave may well represent the initial wave of ...
• Technical Analysis • Published Fri, 31 Mar 2023 16:20 GMTIn my morning forecast, I focused on the level of 1.2365 and suggested deciding to enter the market based on it. Let's take a look at the 5-minute chart to see what happened. Although it never reached a significant upward movement, the decline and the for...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 15:58 GMTSummary United States: The Calm Before the Storm This week brought glimpses of market stabilization after weeks of turmoil. Although consumers seem unfazed by the uproar, tighter credit conditions coming down the pipeline will likely weigh on growth. Mean...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 15:05 GMTThe dollar index is ending with a decline for the fourth of the last five weeks, almost completely erasing the gains from Februarys rise. Although it cannot be ruled out that the quarterly portfolio shakeout will create traction in the Dollar, it is still...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 15:02 GMTWelcome to another edition of Forex Friday, a weekly report in which we discuss selected currency themes mainly from a macro viewpoint, but we also throw in a pinch of technical analysis here and there. In this weeks edition, we discuss the US dollar, EUR...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 14:54 GMTThe Reserve Bank of Australia meets on Tuesday to set interest rates and is expected to announce its decision at 4:30 GMT. Investors are anticipating that the central bank will bring to a halt its run of 10 straight meetings of rate increases as inflation...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 14:52 GMTWith the banking turmoil receding, market participants will turn their attention back to economic releases. The spotlight will fall on the US employment report, where another strong reading could temper speculation that the Fed will start cutting rates so...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 14:48 GMTMacro and banks] The post Research US Upbeat Macro Data Keeps the Fed on a Tightening Bias appeared first on Action Forex....
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 14:44 GMTWe continue to see large volatility in money and bond markets, as market participants struggle to assess the future path of interest rates with banking uncertainty on the one hand and data mostly pointing to continued high core inflation on the other. Fed...
• Technical Analysis • Published Fri, 31 Mar 2023 14:34 GMTThe price for gold has moved higher and trades between the 1,975.00 and 1,985.00 levels. In general, it appears that the commodity waits for more events or economic data before ...
• Technical Analysis • Published Fri, 31 Mar 2023 14:27 GMTOn Friday, the USD/JPY currency pair's surge reached the 133.50 mark. Meanwhile, support was being provided by the 50-hour simple moving average near 132.75. Economic Calendar On Monday, the US ISM Manufacturing ...
• Technical Analysis • Published Fri, 31 Mar 2023 14:24 GMTEarly in the American session, Gold (XAU/USD) is trading around 1,977.12, below the 21 SMA, and above the 200 EMA. We can see that the bullish force still prevails but the price could be facing a resistance zone which could lead to a change in the trend.A...
• Technical Analysis • Published Fri, 31 Mar 2023 14:22 GMTThe GBP/USD surge has been slowed down by the combination of the 1.2400 mark and the weekly R2 simple pivot point at 1.2423. On Friday morning, the pair found support ...
• Technical Analysis • Published Fri, 31 Mar 2023 14:01 GMTThe price for gold has moved higher and trades between the 1,975.00 and 1,985.00 levels. In general, it appears that the commodity waits for more events or economic data before ...
• Technical Analysis • Published Fri, 31 Mar 2023 13:59 GMTThe USD/CAD pair crashed in the last hours and it seems determined to reach and retest the near-term support levels before developing a new bullish momentum. After its massive drop, the price tries to rebound but the downside pressure remains high. It's t...
• Technical Analysis • Published Fri, 31 Mar 2023 13:56 GMTOn Friday, the USD/JPY currency pair's surge reached the 133.50 mark. Meanwhile, support was being provided by the 50-hour simple moving average near 132.75. An extension of the surge might ...
• Technical Analysis • Published Fri, 31 Mar 2023 13:51 GMTThe GBP/USD surge has been slowed down by the combination of the 1.2400 mark and the weekly R2 simple pivot point at 1.2423. On Friday morning, the pair found support ...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 13:41 GMTEUR/USD is slightly lower on Friday. In the European session, EUR/USD is trading at 1.0883, down 0.21%. The euro continues to look sharp and is poised to record its fifth winning week in a row. Eurozone headline inflation fell sharply, but the core rate t...
• Technical Analysis • Published Fri, 31 Mar 2023 13:38 GMTThe EUR/USD surge has encountered resistance in the high level zone at 1.0910/1.0930. As a result, by the middle of Friday's trading, the pair had retreated down below 1.0900. A ...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 13:33 GMTPersonal income growth accelerated to 0.3% month-on-month (m/m) in February, from 0.6% m/m in January, but above market expectations for a more modest gain of 0.2% m/m. Compensation of employees (+0.3% m/m) accounted for most of the growth. Subtracting in...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 13:31 GMTThe Canadian economy expanded by 0.5% month/month (m/m) in January, above Statistics Canada] The post Canadas Economy Bounces Back in January, Points to a Strong February...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 13:13 GMTUS futures Dow futures +0.3% at 32960 S] The post S&P 500 Forecast- Inflation Eases Lifting Stocks appeared first on Action Forex....
• Technical Analysis • Published Fri, 31 Mar 2023 13:12 GMTToday is the last day of the week, month, and quarter, and EUR/USD ends it on a positive wave. Despite a noticeable decline in February, the pair managed to fully recover its losses in March and strengthen to the level of 1.0900. Economists are optimistic...
• Fundamental Analysis • Published Fri, 31 Mar 2023 12:46 GMTAt 12:30 GMT, the US Bureau of Economic Analysis released the United States Core Personal Consumption Expenditures. The market consensus was that the price would have increased by 0.4% ...
• Technical Analysis • Published Fri, 31 Mar 2023 11:56 GMTRed line - neckline resistanceBlue lines- Head and shoulders patternIn previous posts we have talked about the major bullish pattern of the inverted head and shoulders pattern in USDJPY. We have posted the monthly chart several times even before the break...
• Technical Analysis • Published Fri, 31 Mar 2023 11:55 GMTUS stock index futures extended gains and hit new weekly highs along with European ones. Traders are now focused on the Fed's preferred gauge to measure inflation. They are hoping to recieve some clues about the future of the monetary policy. If the index...
• Technical Analysis • Published Fri, 31 Mar 2023 11:38 GMTRed line- short-term resistance trend lineBlack line- medium-term resistance trend lineSPX is trading around 4,060. Price has now broken above the short-term resistance trend line at 3,960. Price has started making higher highs and higher lows after the b...
• Technical Analysis • Published Fri, 31 Mar 2023 11:30 GMTEuro was kept afloat because underlying prices, which exclude the volatile food and energy categories, continued to rise despite a decline in the main indicator. Pound also did not fall as it reacted calmly to last year's UK GDP data even if it were revis...
• Technical Analysis • Published Fri, 31 Mar 2023 11:17 GMTIn my morning article, I turned your attention to 1.0872 and recommended making decisions with this level in focus. Now, let's look at the 5-minute chart and figure out what actually happened. A decline and a false breakout of this level led to a buy sign...
Action Forex • Technical Analysis • Published Fri, 31 Mar 2023 11:00 GMTThe Euro started a fresh increase above the 1.0850 resistance zone against the US Dollar. The EUR/USD pair even cleared the 1.0880 level to move into a positive zone. It tested the 1.0925 zone and is currently consolidating gains well above the 50 hourly ...
Action Forex • Technical Analysis • Published Fri, 31 Mar 2023 10:40 GMTThe Euro edged lower after bulls faced a double failure just under pivotal barrier at 1.0930 (Mar 23 spike high). Dips were so far shallow, with limited negative impact from weaker than expected German labor data and suggesting limited consolidation befor...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 10:36 GMTMarket picture The crypto markets capitalisation fell by 1.1% over the past day to 1.17 trillion, which resembles profit-taking after 50% of market growth in the first quarter of this year. Bitcoin underwent an even more active sell-off the night before, ...
Action Forex • Technical Analysis • Published Fri, 31 Mar 2023 10:28 GMTCable eases from new 2-month high in early European trading on Friday, as markets digest mixed data. UK Q4 GDP ticked above expectations, signaling that the economy started to gain traction after contracting in in the third quarter and current account gap...
• Technical Analysis • Published Fri, 31 Mar 2023 10:01 GMTBlue lines- bullish channelBlack line- neckline supportEURUSD is trading around 1.0886. Price is under pressure today. Price has so far respected the key support neckline and cancelled the bearish Head and Shoulders pattern. At the same time price continu...
• Technical Analysis • Published Fri, 31 Mar 2023 09:55 GMTBlack line- neckline resistanceYellow rectangles- higher lowsNZDUSD is trading around 0.6260. Price recently tested the black neckline resistance for the 4th time and it seems it is getting rejected once again. In the near term price continues making high...
• Technical Analysis • Published Fri, 31 Mar 2023 09:52 GMTBlue lines- bullish channelRed lines- triangle patternGold price is trading around $1,979. Price remains inside the triangle pattern we mentioned in our previous analysis. Price has reached the short-term resistance level of $1,983 where we find the upper...
• Technical Analysis • Published Fri, 31 Mar 2023 09:50 GMTOver the past week, Bitcoin has suspended its upward movement, resting on a powerful resistance level of $28k. The cryptocurrency's capitalization has remained virtually unchanged over the past seven days, indicating a local pause for consolidation of nec...
• Technical Analysis • Published Fri, 31 Mar 2023 09:47 GMTBlue lines- trading rangeBitcoin is trading around $27,825 after getting rejected once again at the upper trading range boundary. There is no clear trend in the near term as price is mostly moving sideways between $29,000 and $26,700. Price is now making ...
• Technical Analysis • Published Fri, 31 Mar 2023 09:04 GMTLet's take a look at the technical picture of EUR/USD, GBP/USD, GBP/JPY, Oil and Bitcoin. The material has been provided by InstaForex Company - www.instaforex.com...
• Technical Analysis • Published Fri, 31 Mar 2023 08:20 GMTThe GBP/USD pair is trading in the red at the time of writing and it seems very heavy, so more declines are in cards. After its amazing growth, a sell-off is natural, the rate could approach and reach new demand zones before developing a new upside moveme...
• Technical Analysis • Published Fri, 31 Mar 2023 08:19 GMTMacroeconomic calendar from March 30US GDP expanded less than expected in the 4 quarter. The American economy rose by 2.6%, slightly less than 3.2% in the 3 quarter. According to the US Bureau of Economic Analysis, the slower-than-previously-estimated gro...
• Technical Analysis • Published Fri, 31 Mar 2023 08:18 GMTAnalysis of transactions and tips for trading GBP/USDThe test of 1.2358 during yesterday's European session gave off a sell signal, which resulted in a price decrease of over 30 pips.Markets are likely to focus on the upcoming UK GDP data for Q4, which is...
• Technical Analysis • Published Fri, 31 Mar 2023 08:15 GMTAnalysis of transactions and tips for trading EUR/USDThe pair tested 1.0832 at a time when the MACD line was just starting to move below zero, which was a good reason to sell. However, euro spurted upwards, testing 1.0850. At that time, the MACD had alrea...
Action Forex • Technical Analysis • Published Fri, 31 Mar 2023 08:11 GMTUSDCAD is set to close the month on a negative note despite the rally to a five-month high of 1.3860 on March 10th. Having dived back below its 20- and 50-day simple moving averages (SMAs) after the formation of a bearish doji candlestick near the 61.8% F...
• Technical Analysis • Published Fri, 31 Mar 2023 07:59 GMTThe GBP/USD currency pair quietly continued to rise on Thursday, although there was no significant event to explain it. However, a significant inflation report was released in Germany during the American trading session, which marked the start of a reason...
• Technical Analysis • Published Fri, 31 Mar 2023 07:55 GMTTrend analysis (Fig. 1).The pound-dollar pair may move down from the level of 1.2382 (closing of yesterday's daily candle) to 1.2352, the 85.4% pullback level (blue dotted line). Upon reaching this level, an upward movement is possible with the target of ...
• Technical Analysis • Published Fri, 31 Mar 2023 07:51 GMTPotential for the downside movement on Silver and BTCUSDThe material has been provided by InstaForex Company - www.instaforex.com...
• Technical Analysis • Published Fri, 31 Mar 2023 07:45 GMTTrend analysis (Fig. 1).The euro-dollar pair may move down from the level of 1.0904 (closing of yesterday's daily candle) to 1.0869, the 14.6% pullback level (yellow dotted line). When testing this level, the price may move up. Fig. 1 (daily chart).Compr...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 07:44 GMTEUR/GBP falls after UK GDP ] The post EUR/GBP, Gold Forecasts: Two Trades to Watch appeared first on Action Forex....
Action Forex • Technical Analysis • Published Fri, 31 Mar 2023 07:42 GMTGBPJPY is extending its buying interest above the medium-term descending line and the simple moving averages (SMAs), suggesting more gains in the near term. The pair rebounded off the 158.45 support and the long-term uptrend line, with the next crucial re...
• Technical Analysis • Published Fri, 31 Mar 2023 07:37 GMTOn Thursday, the EUR/USD currency pair continued to move upward. The pair has been growing almost recoilless since the beginning of the week, resulting in such a hazy formulation. By the way, as you can see from the illustration below, both the increase a...
• Technical Analysis • Published Fri, 31 Mar 2023 07:14 GMTFrank Elderson has become the latest senior European Central Bank official to explicitly state the need for further interest rate hikes. Yesterday, he gave an interview in which, when asked if a higher rate would do serious damage to the economy as a whol...
• Technical Analysis • Published Fri, 31 Mar 2023 07:09 GMTThe price of gold resumed its growth in the short term as expected. Now, it's trading at 1,982 and it seems determined to extend its growth. You knew from my previous analysis that XAU/USD is bullish in the short term. Later, the fundamentals should take ...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 06:58 GMTMarkets Yesterday, first German regional CPIs (North Rhine Westphalia) and Spanish headline CPI declining from 6.0% to 3.1% (HICP) suggested EMU March inflation slowed faster than expected. European yields nosedived up to 10 bps+ at the open. Maybe the EC...
• Technical Analysis • Published Fri, 31 Mar 2023 06:31 GMTCrypto Industry News:The introduction of the ruble digital pilot program will take place in May 2023. Russia is trying not to lag behind other economies in developing blockchain technology.The Bank of Russia's plan to implement a pilot Central Bank Digita...
• Technical Analysis • Published Fri, 31 Mar 2023 06:30 GMTCrypto Industry News:Sam Bankman-Fried, the founder of the bankrupt cryptocurrency exchange FTX, has pleaded not guilty to the new allegations made by US prosecutors. The most serious of these was bribing Chinese officials with the amount of 40 million do...
• Technical Analysis • Published Fri, 31 Mar 2023 06:30 GMTA few nice entry signals were generated yesterday. Let's look at the M5 chart to get a picture of what happened. In my previous review, I considered entering the market at 1.2355. A sell signal was made after a rise in the price and a false breakout by th...
• Technical Analysis • Published Fri, 31 Mar 2023 06:30 GMTTechnical Market Outlook: The GBP/USD pair has made another higher high at the level of 1.2422 as the up trend continues. Nevertheless, on the H4 time frame chart the rally has ended with a Pain Bar candlestick made in extremely overbought market conditio...
• Technical Analysis • Published Fri, 31 Mar 2023 06:29 GMTTechnical Market Outlook:The EUR/USD bulls finally broke above the intraday technical resistance seen at 1.0868 and are approaching the last swing high located at 1.0930. In a case of failure to break above the swing high the next target for bears is seen...
• Technical Analysis • Published Fri, 31 Mar 2023 06:27 GMTOn the daily chart, the Solana Crypto currency appears to be moving in a Sideways condition, this is confirmed by the EMA 21 which has been moving in the middle of the body of the candle in recent days, however, the appearance of the Ascending Broadening ...
• Technical Analysis • Published Fri, 31 Mar 2023 06:27 GMTOn the daily chart, the Doge currency looks to be moving in a ranging condition in the past few days where this is confirmed by the movement of the 21 EMA which moves within the bodies of the candles even though the dominance of sellers seems to be reappe...
• Technical Analysis • Published Fri, 31 Mar 2023 06:20 GMTThe EUR/USD pair increased as much as 1.09257 today where it has found resistance again. It's trading at 1.0901 at the time of writing. It seems undecided in the short term, that's why we need to wait for new opportunities. Later, the economic data should...
• Technical Analysis • Published Fri, 31 Mar 2023 06:19 GMTThe USD/JPY pair rallied in the short term registering a new high of 133.50. Now, it has retreated a little to retest the near-term support levels before jumping higher again. The bias is bullish in the short term as the JPY was weakened by the Yen Future...
• Technical Analysis • Published Fri, 31 Mar 2023 06:14 GMTThe EUR/USD chart is displaying bearish momentum, indicating a potential drop from the multi-swing high resistance level at 1.0927, coinciding with a 78.60% Fibonacci retracement. The first support level at 1.0830, a multi-swing low support level, could b...
• Technical Analysis • Published Fri, 31 Mar 2023 06:13 GMTWTI crude oil prices are currently bearish and may drop towards the first support at 71.15, while facing resistance at 74.07. Key support levels include a significant overlap support and an overlap support with a 78.60% Fibonacci retracement. Meanwhile, r...
• Technical Analysis • Published Fri, 31 Mar 2023 06:05 GMT5M chart of GBP/USD On Thursday, GBP/USD also stretched its upward movement. Volatility was not as strong as the euro, and the pound did not have any reasons to rise at all. If the German inflation report had little to do with the euro, then it certain...
• Technical Analysis • Published Fri, 31 Mar 2023 06:03 GMT5M chart of EUR/USD On Thursday, EUR/USD stretched its upward movement. While the last three days passed without any fundamental and macroeconomic background (and the euro still rose), on Thursday, some reports were published in the European Union and ...
• Technical Analysis • Published Fri, 31 Mar 2023 05:56 GMTTechnical analysis: Silver has been trading sideways in the last 10 hours and I see potential for the downside breakout and downside correction to start. Due to the breakout of the mini consolidation to the downside, I see potential for the further down...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 05:56 GMTFirst CPI figures from Spain and Germany confirmed that headline inflation in Europe eased by a big chunk in March, thanks to the base effect ] The post Euro Inflation Falls, But appeared first on Action Forex....
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 05:54 GMTMarket movers today The main focus today will be on the euro area March flash HICP figures. The preliminary data released for Germany and Spain points towards headline inflation cooling to 6.7% y/y, lower than initially estimated. That said, the ECB focus...
• Technical Analysis • Published Fri, 31 Mar 2023 05:51 GMTTechnical analysis: USD/CAD has been trading downside as I expected and the price has reached the first downside objective at 1.3517. I still see potential for the downside continuation. Due to the bearish condition and supply in the control, I see pote...
• Technical Analysis • Published Fri, 31 Mar 2023 05:46 GMTTechnical analysis: BTC/USD has been trading upside sideways at the price of $28.165. I see potential for the downside rotation. Due to the rejection fo the key resistance zone at $29.000, I see potential for the downside movement towards lower end of t...
Action Forex • Technical Analysis • Published Fri, 31 Mar 2023 04:46 GMTAUD/USD started a fresh increase above the 0.6700 resistance zone. NZD/USD is rising and might aim a move above the 0.6300 resistance. Important Takeaways for AUD/USD and NZD/USD The Aussie Dollar started a fresh increase above the 0.6700 resistance again...
• Technical Analysis • Published Fri, 31 Mar 2023 04:19 GMTEarly in the European session, the British pound is trading around 1.2400, above the 21 SMA, and above the uptrend channel formed since March 7.In the last few minutes, the British pound reached a high of 1.2421. However, as it could not sustain this pric...
• Technical Analysis • Published Fri, 31 Mar 2023 04:13 GMTOur proxy for Natural Gas, UNG, is in the very final stages for the decline from 34.50. We think that a final spike to just below 6.58 could be seen to complete the decline from 34.50 and set the stage for a new impulsive rally back to the long-term resis...
• Technical Analysis • Published Fri, 31 Mar 2023 04:09 GMTEUR/USD is challenging resistance at 1.0930. A break above here will open the door for a higher move towards resistance at 1.1033 on the way higher to the first upside target at 1.1248 and likely closer to the 1.1424 target. That said, if however, resista...
• Technical Analysis • Published Fri, 31 Mar 2023 03:42 GMTInvestors switched from policy expectations from the Federal Reserve to the European Central Bank. Yesterday's German inflation report gave them reason to believe that the ECB will continue to tighten. Germany's overall CPI fell in March, and badly, to 7....
• Technical Analysis • Published Fri, 31 Mar 2023 03:42 GMTAfter the pound settled above the MACD indicator line on the daily chart on Wednesday, it rose by 74 points on Thursday, and this morning, GBP reached the target level of 1.2420. The question about the possibility of overcoming this resistance and further...
• Technical Analysis • Published Fri, 31 Mar 2023 03:41 GMTThe Australian dollar broke through the upper limit of the neutral range that started back on March 17. AUD climbed out of this range this morning.It could fall to the lower limit of the range, like it did on the 23rd, but the ascending Marlin oscillator ...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 03:04 GMTSVB failed in March. Oil was destined to fall as early as February here] The post Crude Oil: Will Ha! appeared first on Action Forex....
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 03:01 GMTKey insights from the week that was. Softer updates around the Australian consumer and inflation have strengthened the case for a pause at next weeks April RBA policy meeting. Global market sentiment meanwhile improved over the week as concerns over US an...
• Technical Analysis • Published Fri, 31 Mar 2023 03:00 GMTAnalyzing Thursday's trades: EUR/USD on 30M chart On Thursday, EUR/USD stretched its upward movement, which isn't surprising anymore. A new uptrend line was formed, which appeared almost immediately after the pair overcame the previous one. We didn't ...
Action Forex • Technical Analysis • Published Fri, 31 Mar 2023 02:59 GMTKey Highlights USD/JPY started a recovery wave above the 132.20 resistance. It broke a major bearish trend line with resistance near 131.20 on the 4-hours chart. GBP/USD rallied and traded to a new monthly high above 1.2340. EUR/USD is also gaining pace a...
Action Forex • Technical Analysis • Published Fri, 31 Mar 2023 02:57 GMTNasdaq 100 takeaways The Nasdaq 100 is trading at a 7-month high, up more than 20% in three months to enter a new bull market The tech-heavy index recently saw a golden cross of the 50-day EMA above the 200-day EMA, signaling a shift back to a longer-term...
Action Forex • Fundamental Analysis • Published Fri, 31 Mar 2023 02:55 GMTGold Price Outlook The price of gold may stage further attempts to test the 2022 high ($2071) as it climbs to a fresh weekly high ($1984), but fresh data print coming out of the US may lead to a pullback in bullion as the Personal Consumption Expenditure ...
