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rss: Action Forex • Technical Analysis • Published Tue, 02 Mar 2021 08:38 GMT

GBPUSD is marking the fourth day of declines near the 20-day simple moving average (SMA) which could be a make-or-break point in the coming sessions given the upside reversals around that line during the past three months. The 23.6% Fibonacci level of the...
rss: Action Forex • Technical Analysis • Published Tue, 02 Mar 2021 08:37 GMT

WTI oil futures recent bounce at 59.41 is tackling the curbing 100-period simple moving average (SMA) at 60.28, coupled with the Ichimoku clouds lower frontier. The SMAs are preserving the pairs bullish bias in spite of the diminished upward slopes of the...
rss: Action Forex • Technical Analysis • Published Tue, 02 Mar 2021 08:35 GMT

EURJPY is retreating over the last days from the spike that sent the market to the 28-month high of 129.96. The RSI is confirming the recent view and is moving downwards in the positive territory, while the MACD is still standing above its trigger line. I...
rss: Action Forex • Fundamental Analysis • Published Tue, 02 Mar 2021 08:28 GMT

Fourth quarter GDP numbers will be watched out of Canada on Tuesday (13:30 GMT) as the recovery is expected to have lost steam. Nevertheless, the Canadian dollar has been edging higher so far in 2021 as a red-hot housing market, higher oil prices and a pr...
rss: Technical Analysis • Published Tue, 02 Mar 2021 07:54 GMT

The Australian Dollar edged higher by 60 pips or 0.78% against the US Dollar on Monday. The surge was stopped by the 50 hour simple moving average at 0.7785 during ...
rss: Action Forex • Fundamental Analysis • Published Tue, 02 Mar 2021 07:45 GMT

Markets The violent moves on bond markets subsided and brought back calm to equity markets yesterday. European stocks rose about 2% while gains for the US mounted to 3% for the tech-heavy Nasdaq. Commodity markets, usually also a beneficiary of investor o...
rss: Technical Analysis • Published Tue, 02 Mar 2021 07:44 GMT

The coronavirus is clearly retreating. Overall incidence has dropped to below 300,000 per day, and there is good progress in the United States and Britain. Perhaps, vaccination is already taking its toll.A significant decrease in new cases can also be obs...
rss: Action Forex • Technical Analysis • Published Tue, 02 Mar 2021 07:26 GMT

The US dollar is attempting to hold onto last week gains against the Canadian dollar, following the powerful recovery in the pair from just below the 1.2500 level. The four-hour time frame shows that a breakout from an extremely large falling price channe...
rss: Action Forex • Technical Analysis • Published Tue, 02 Mar 2021 07:26 GMT

Litecoin is building short-term momentum alongside Bitcoin as the crypto market continues to move away from the trading lows of last week. Looking at the week ahead, critical down slopping trendline resistance on the daily time frame is found around the $...
rss: Action Forex • Technical Analysis • Published Tue, 02 Mar 2021 07:25 GMT

The British remain under pressure against the US dollar, as traders remain cautious after last weeks huge reversal from the 1.4230 level. The four-hour time frame shows that the GBPUSD pair is from technical support from the Ichimoku indicator below the 1...
rss: Action Forex • Fundamental Analysis • Published Tue, 02 Mar 2021 07:22 GMT

The Japanese yen declined against the US dollar even after relatively strong economic data. According to the country] The post Australian Dollar Declines After RBA Interest Rate Decision appeared first on Action Forex....
rss: Action Forex • Fundamental Analysis • Published Tue, 02 Mar 2021 07:20 GMT

Global equity markets rallied as sovereign markets stabilized. The S] The post Optimism Backed Market Moves Dont Look Like A Carnage appeared first on Action Forex....
rss: Action Forex • Fundamental Analysis • Published Tue, 02 Mar 2021 07:19 GMT

Market movers today Today we get flash HICP figures from the euro area. After country releases have surprised somewhat on the upside, we expect headline inflation to increase slightly to 1.0% in February. German January retail sales are also released and ...
rss: Technical Analysis • Published Tue, 02 Mar 2021 07:14 GMT

Technical Market Outlook:The EUR/USD pair has made a new local low at the level of 1.2015 after bulls failed to bounce higher above the intraday technical resistance located at the level of 1.2091. Despite the oversold market conditions, to bulls are not ...
rss: Technical Analysis • Published Tue, 02 Mar 2021 07:09 GMT

Technical Market Outlook:The GBP/USD pair has hit the price overbalance level located at 1.3989, but did not move above it due to the intense bearish pressure and reversed. The bears have managed to make a new local low at the level of 1. 3865 and now thi...
rss: Action Forex • Fundamental Analysis • Published Tue, 02 Mar 2021 06:48 GMT

As expected the RBA holds the line on current policy settings and guidance. Any response to the housing boom will depend on lending standards smoothing of bond markets, if necessary, will continue while forecasts and guidance remain consistent with curren...
rss: Technical Analysis • Published Tue, 02 Mar 2021 06:40 GMT

USD/CNY bottomed in mid-January 2014 at 6.0402 and has since moved higher in a corrective mode. The first A-B-C correction completed at 7.1842 and the following decline is counted as an X-wave. This X-wave is near completion and will ideally see a bottom ...
rss: Technical Analysis • Published Tue, 02 Mar 2021 06:32 GMT

USD/CHF is testing key-resistance near 0.9174 and a break above here will open up for a continuation towards 1.0235 and possibly even higher towards 1.1000 longer term.Short-term we could see resistance at 0.9295 cap the upside for a temporary correction ...
rss: Action Forex • Fundamental Analysis • Published Tue, 02 Mar 2021 06:19 GMT

General Trend Shanghai Composite and Hang Seng have moved lower following comments from China CBIRC Chairman [discussed leverage, loan rate, property market, foreign bubbles, capital flows] and Hong Kongs Financial Sec [commented on stock trading tax and ...
rss: Action Forex • Fundamental Analysis • Published Tue, 02 Mar 2021 05:59 GMT

With no surprises by the RBA and mixed data from Asia, traders looked to weaker oil prices for a lead. Asian futures: Australia] The post European Open: Indices Mixed, Oil And Energy Lower, RBA Hold Rates appeared first on Action Forex....
rss: Action Forex • Technical Analysis • Published Tue, 02 Mar 2021 05:53 GMT

Silver (XAGUSD) formed a high on February 1 at $30.09 during the reddit The post Silver Pulling Back Within Bullish Trend appeared first on Action Forex....
rss: Technical Analysis • Published Tue, 02 Mar 2021 05:15 GMT

The world has seen a dozen self-proclaimed creators of bitcoin since 2010. However, it is still not known for certain who Satoshi Nakamoto is and if there was such a person at all Most experts tend to believe that there are one or more IT specialists behi...
rss: Technical Analysis • Published Tue, 02 Mar 2021 04:54 GMT

Despite the fact that there is no new data on large purchases of bitcoins by institutional investors, the popularization of bitcoin continues. Many experts agree that an extremely important moment is about to come for bitcoin, which can become a turning p...
rss: Action Forex • Technical Analysis • Published Tue, 02 Mar 2021 03:40 GMT

STOCKS Dow and DAX have recovered well after the sell-off towards the end of last week. It will have to be seen if Dow can rise past 31650 to revisit 32000 levels and ease the downside pressure. DAX is back into its 13800-14200 range. The Asians sustains ...
rss: Action Forex • Technical Analysis • Published Tue, 02 Mar 2021 03:32 GMT

Key Highlights GBP/USD corrected lower after trading to a new multi-month high at 1.4242. There was a break below a key triangle with support at 1.3970 on the 4-hours chart. EUR/USD extended its decline, but it is still holding the 1.2000 support. The Eur...
rss: Action Forex • Fundamental Analysis • Published Tue, 02 Mar 2021 03:24 GMT

PMI data was mostly supportive of sentiment overnight, with data from parts of Asia, Europe and North America beating expectations. Asian futures: Australia] The post Asian Open: PMI Supportive Of Sentiment Overnight appeared first on Action Forex....
rss: Action Forex • Fundamental Analysis • Published Tue, 02 Mar 2021 03:20 GMT

China released its NBS Manufacturing PMI for February. The reading was 50.6 vs an expectation of 51.1 and Januarys print of 51.3. This ties the smallest increase in manufacturing activity since May 2020, immediately following the pandemic in China. In add...
rss: Technical Analysis • Published Tue, 02 Mar 2021 02:58 GMT

EUR/USDYesterday, the euro traded in a range of 74 points, closing the day with a decline and consolidation below the balance (red) and MACD (blue) indicator lines. The balance line shows the market mood within the trend, the MACD line determines the tren...
rss: Technical Analysis • Published Tue, 02 Mar 2021 02:58 GMT

AUD/USDThe Australian dollar closed the day by gaining 68 points yesterday, completing the correction in the target range of 0.7765/83. The signal line of the Marlin oscillator from below has retested the border of the growth area, now it turns to the dow...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 17:10 GMT

The February ISM manufacturing index rose to 60.8, higher than market expectations of 58.8. This marked a 2.1 percentage points increase from the January reading of 58.7. New orders increased by 3.7 percentage points to 64.8, while new export orders went ...
rss: Technical Analysis • Published Mon, 01 Mar 2021 17:05 GMT

EURUSD is under pressure. Price is challenging the Daily Ichimoku cloud lower boundary at 1.2045 which is important support. Price is making lower lows and lower highs after reaching our 1.2220 target. EURUSD is at a critical junction. The next few sessio...
rss: Technical Analysis • Published Mon, 01 Mar 2021 16:45 GMT

USDJPY is trading near its highs at 106.66. Trend remains bullish as price continues making higher highs and higher lows. Price is very close to the upper channel boundary and the RSI did not make new highs as price did. This has produced another bearish ...
rss: Technical Analysis • Published Mon, 01 Mar 2021 16:41 GMT

BTC/USD is trading around $48,000 after a pull back towards $43,000 during the weekend. Price has formed a downward sloping wedge pattern and is now breaking out of it. As long as price is above $43,000 we could see a move to new all time highs towards $6...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 16:16 GMT

The US 500 index (Cash) is trying to conquer the region from the 50-period simple moving average (SMA) until the 100-period SMA, after a foothold at the 3,788 level repowered the positive sentiment. The flattening out of the 100- and 200-period SMAs as we...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 16:14 GMT

Cable stands at the back foot on Monday and remains below 1.40 mark after losing around 1.5% in past two days. Increased demand for dollar pushed sterling lower after bulls hit the highest level in almost three years (1.4238) last week. Bulls are pausing ...
rss: Technical Analysis • Published Mon, 01 Mar 2021 15:20 GMT

The market faces a massive, never before seen, amount of sell orders at 3.5100. Namely, 6,386.60 coins should be sold at 3.5100. Due to that reason a surge of the ...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 14:58 GMT

The Swiss franc has started the trading week and the month of March in negative territory, as the currencys downswing continues. USD/CHF is currently trading at 0.9141, up 0.63% on the day. Swiss franc falls to 4-month low The Swiss franc remains in a pro...
rss: Technical Analysis • Published Mon, 01 Mar 2021 14:54 GMT

EUR/USDThe morning positive news on the EU did not support the euro.The euro is under pressure after the US Congress passed a huge $1.9 trillion stimulus package.This package will boost economic growth and raise yields in the US - with which there is an o...
rss: Technical Analysis • Published Mon, 01 Mar 2021 14:26 GMT

Overview : The EUR/USD pair has faced strong support at the level of 1.2046 because resistance became support. So, the strong support has been already faced at the level of 1.2046 and the pair is likely to try to approach it in order to test it again. ...
rss: Technical Analysis • Published Mon, 01 Mar 2021 14:13 GMT

Further Development Analyzing the current trading chart of BTC, I found that BTCis losing the momentum on the rally and that there is potential for the downside movement. Key Levels: Resistance: $48,300 Support levels: $46,00The material has been provide...
rss: Technical Analysis • Published Mon, 01 Mar 2021 14:04 GMT

The British pound this morning of the American session is trading under downward pressure, in the 4-hour chart we can see the formation of a reversal pattern, if the pair breaks the 1.3895 area, a fall could occur to the 1.36 area, in the short term.The k...
rss: Technical Analysis • Published Mon, 01 Mar 2021 14:03 GMT

Germany February preliminary CPI +1.3% vs +1.2% y/y expected Prior +1.0% CPI +0.7% vs +0.5% m/m expected Prior +0.8% HICP +1.6% vs +1.6% y/y expected Prior +1.6% HICP +0.6% vs +0.5% m/m expected Prior +1.4%This fits with expectations from the state rea...
rss: Technical Analysis • Published Mon, 01 Mar 2021 13:54 GMT

After a weekly correction and low indicators, the cryptocurrency market is starting to gradually recover. However, digital coins are still jumping in value. Bitcoin is leading the resistance to the market, which meets the spring with indicators of $46,500...
rss: Technical Analysis • Published Mon, 01 Mar 2021 13:40 GMT

The EUR / USD pair, on the morning of the American session, is under bearish pressure and is trading on daily charts below the SMA of 21, and below the 2/8 of Murray, with signs of finding a bounce in the 1.2020 zone.The fall of the euro-dollar is due to ...
rss: Technical Analysis • Published Mon, 01 Mar 2021 13:34 GMT

Latest data released by Destatis - 1 March 2021 This just adds to confirmation that the German national reading later should see CPI tick slightly higher than the January reading of +1.0% y/y. The estimate is for a jump to +1.2% y/y to +1.3% y/y - which...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 12:46 GMT

The Reserve Bank of Australia (RBA) will conclude its March policy meeting at 01:30 GMT Tuesday. The domestic economy is doing well and commodity prices have soared, but the RBA won] The post Can the RBA Shoot the Aussie Down appeared first on Action Fore...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 12:43 GMT

The Reserve Bank of Australia meets this week and is expected to leave rates unchanged at all-time lows of 0.10% and reiterate the monetary policy will remain accommodative until CPI is sustainable at their targeted level of 2%-3%....
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 12:16 GMT

The EUR/USD is bullish and the retracement is almost completed. We could see a move to the upside soon. We can see 2 POC zones. The first zone is 1.2022-40 and it is supported by W L3 and the trendline. The POC2 is 1.1985-1.2015 and is slightly above the ...
rss: Technical Analysis • Published Mon, 01 Mar 2021 12:00 GMT

Technical outlook:Bitcoin had reached its all-time highs at $58,300 on February 21, 2021. Since then it has reversed sharply lower printing lows around $43,000 levels yesterday before finding some support again. The crypto is seen to be trading around $47...
rss: Technical Analysis • Published Mon, 01 Mar 2021 11:52 GMT

Overview : The GBP/USD pair has climbed along a steep, upward-sloping support channel, the pair rose at an even more ambitious incline from the area of 1.3887. The GBP/USD pair is showing signs of frequency at the bottom lip of a key support range be...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 11:48 GMT

On February 26th, the Gold price reached $1714.90, the lowest level since June 16th, 2020. The key reason why the precious metal plummeted was the strengthening of the American currency, which skyrocketed due to a rally in the US bond yield. Physical dema...
rss: Technical Analysis • Published Mon, 01 Mar 2021 11:42 GMT

Technical outlook:EURUSD remains vulnerable to extend its losses after reversing sharply from 1.2240/50 zone last week. As depicted here, the above zone was very close to the fibonacci 0.618 retracement of the drop between 1.2350 and 1.1950 respectively. ...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 11:38 GMT

On Friday, the market moved synchronously in favor of the dollar. Gold broke through the lows on November 30 and consolidated below $1,760 per troy ounce. The Bloomberg Commodity Index, which consists of 23 commodities, decreased the most since April, as ...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 11:36 GMT

USDJPY ticked to a fresh 6-month high of 106.73 on Monday, but its weekly bullish cycle seems to be ending as the price is flirting with the topline of the ascending channel. The flattening RSI and the slowing positive momentum in the MACD also hint that ...
rss: Technical Analysis • Published Mon, 01 Mar 2021 11:33 GMT

1. LTCUSDT volume analysis on the Binance Exchange. 2. Analysis of the long-term trend. 3. Analysis of the medium-term trend. 4. Analysis of the short-term trend 5. Japanese candlestick analysis. 6. Conclusions. 7.Statistics. 1. LTCUSD...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 11:29 GMT

Oil recoups some losses On Friday, oil prices fell to earth, reflecting the general market retreat that swept asset classes as the week ended. Brent crude fell 3.90% to USD64.40 a barrel, and WTI fell 3.05% to USD61.95 a barrel. In Asia today, the news th...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 11:29 GMT

Pro-cyclical currencies, Asian currencies climb Rebounding commodity prices and vaccine optimism have lifted pro-cyclical and Asian currencies this morning. The dollar index rose 0.83% to 90.83 on Friday, but a quiet day on the majors has seen it edge low...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 11:27 GMT

Equities race higher on vaccines and stimulus Friday saw another chaotic day on Wall Street, with the Nasdaq finishing higher while the S] The post Asian Equities Start Week With Gains appeared first on Action Forex....
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 11:22 GMT

Notes/Observations Major European PMI Manufacturing data at 3-year highs) (Beats: France, Germany, Italy, Spain, UK) Focus remain on the bond yield front and for the moment the global bond spike in yield had eased. Dealers contemplated just how central Ba...
rss: Technical Analysis • Published Mon, 01 Mar 2021 11:06 GMT

Gold traded downwards last Friday, mainly due to US bonds reaching a yearly high of 1.6% overnight, which prompted the US dollar to rise sharply in the markets.Peter Hug, director of KITCO, said he was on the lookout for an increase to $ 1,817 this Monday...
rss: Technical Analysis • Published Mon, 01 Mar 2021 11:04 GMT

Spring has already arrived in our hearts and calendars, but the cryptocurrency market is still far from its dawn. For the second week now, the crypto industry has been experiencing a price correction that has hit all digital coins. Cryptocurrencies are tr...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 10:47 GMT

The Euro remains firmly in red and extends weakness on Monday, despite solid German / EU PMI data, weighed by Fridays massive bearish daily candle (the pair was down 0.84%, making the biggest one-day fall since 19 Mar 2020). Fresh bears emerged after stro...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 10:45 GMT

A semblance of business as usual has reappeared this morning after another chaotic session in New York on Friday. US FDA approval of the one-shot Johnson and Johnson Covid-19 vaccine over the weekend has seen the global recovery trade reappear with a veng...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 10:24 GMT

AUDUSD produced a false break of the 0.7988 high, identified in February 2018, touching a 3-year peak of 0.8006 before plummeting below the simple moving averages (SMAs) and pivoting at 0.7691. The SMAs are still supporting the pairs bullish demeanour in ...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 10:21 GMT

Ethereum is starting to recover alongside the broader cryptocurrency market after setting a four-week low, around the $1,287 level. Bulls may test towards a key trendline breakout on the four-hour time frame, around the $1,620 level if the short-term upsi...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 10:20 GMT

Bitcoin is looking for more short-term gain, following a false downside breakout below the $44,000 support level over the weekend. Sellers failed to ignite a large head and shoulders pattern, which has encouraged a bounce back towards the $46,000 level. T...
rss: Technical Analysis • Published Mon, 01 Mar 2021 10:18 GMT

1. Volume analysis of bitcoin on the Chicago Exchange. 2. Analysis of the long-term trend. 3. Analysis of the medium-term trend. 4. Analysis of the short-term trend 5. Japanese candlestick analysis. 6. Conclusion. 7. Statistics. 1. Volum...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 09:57 GMT

Yields fall back as selloff in government bonds cools, but is the panic over Stocks get off to firm start as vaccine and stimulus hopes still at play Risky currencies pare losses as dollar recedes from highs, gold bounces off lows Calm returns to bond mar...
rss: Technical Analysis • Published Mon, 01 Mar 2021 09:53 GMT

On Monday, the USD/JPY started the week by trading near the 106.50 mark, which appeared to be providing the currency exchange rate with support. In the meantime, the rate was ...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 09:32 GMT

EURUSD did not find enough buyers to successfully breach the surface of the Ichimoku cloud and the restrictive line stretched from August despite moving beyond them to peak at 1.2242 last week. Encouragingly, however, sellers were not strong enough either...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 09:30 GMT

The Eurozone single currency has surged by 1.08% against the Canadian Dollar since last week] The post EUR/CAD 4H Chart: Could Edge Higher appeared first on Action Forex....
rss: Technical Analysis • Published Mon, 01 Mar 2021 09:29 GMT

On Monday morning, world oil prices showed a steady growth of 1.5% amid news about the adoption of a package of measures to support the US economy.Thus, the price of the North Sea Brent blend increased by 1.49% - to $65.38, while the price of April WTI fu...
rss: Technical Analysis • Published Mon, 01 Mar 2021 09:22 GMT

The GBP/USD started the week with testing the resistance of the 1.4000 level. In the meantime, there was a cluster of resistance levels located near the 1.4020 level. Future scenarios ...
rss: Technical Analysis • Published Mon, 01 Mar 2021 09:18 GMT

Outlook on March 1:Analytical review of popular currency pairs on the hourly chart:The key levels for the EUR/USD pair are 1.2201, 1.2138, 1.2107, 1.2060, 1.2024, 1.1952 and 1.1894. The price is forming a potential from the downward trend that started on ...
rss: Technical Analysis • Published Mon, 01 Mar 2021 09:16 GMT

Last week, the pound/dollar pair rose, tested the historical resistance level of 1.4237 (blue dotted line), and declined a lot, slightly not reaching the 5 average EMA of 1.3853 (red thin line). The market closed the weekly candle at 1.3926. This week, th...
rss: Technical Analysis • Published Mon, 01 Mar 2021 09:16 GMT

The euro/dollar pair rose last week, but failed to reach the level 1.2274 (blue dotted line) a pullback level of 85.4%, since the news background prevented it. Thus, the price declined and tested the support line of 1.2075 (blue bold line). This week, th...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 08:35 GMT

Upside risks dominated the US Dollar against the Canadian Dollar on Friday. As a result, a breakout through the upper boundary of a descending channel pattern occurred during Friday] The post USD/CAD Breaks Channel Pattern appeared first on Action Forex....
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 08:32 GMT

On Monday morning, the EUR/USD currency exchange rate was recovering from the Friday] The post EUR/USD Recovers On Monday appeared first on Action Forex....
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 08:30 GMT

The common European currency declined by 81 pips or 0.63% against the Japanese Yen on Friday. The currency pair breached the 50 hour simple moving average at 129.11 during Friday] The post EUR/JPY Breakout Might Occur appeared first on Action Forex....
rss: Technical Analysis • Published Mon, 01 Mar 2021 08:29 GMT

GBP/JPY has corrected to a low of 147.37 in the upper range of our target-area between 146.41 - 147.72. The following test of resistance at 149.17 has been weak, which could indicate a second dip into this correction-area before the next real rally highe...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 08:25 GMT

Gold is trying to recoup some losses of the preceding week and has been remaining within a downward sloping channel over the last seven months. In trend indicators, the 20- and 40-day simple moving averages (SMAs) are heading south as well as the Ichimoku...
rss: Technical Analysis • Published Mon, 01 Mar 2021 08:21 GMT

Bitcoin peaked at 58,354 in late February. After the downward correction to 43,02, it may resume the underlying uptrend above the former high of 58,354 for a continuation higher towards 63,085 as the next extension target. Support is now seen at 44,918/43...
rss: Technical Analysis • Published Mon, 01 Mar 2021 08:18 GMT

Today we take a look at EURUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is holding above the ascendi...
rss: Technical Analysis • Published Mon, 01 Mar 2021 08:13 GMT

Price holding above ascending trendline support. A short term bounce above 1st support at 1.20622 towards 1st resistance at 1.21082 can be expected. Stochastic testing support where price reacted in the past as well.Trading RecommendationEntry: 1.20622Rea...
rss: Technical Analysis • Published Mon, 01 Mar 2021 08:12 GMT

Price is facing bullish pressure from 1st support at 148.727, in line with 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support. Prices could bounce to 1st resistance at 149.297 where it coincides with the horizontal swi...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 08:11 GMT

Equity markets are trying to recover from last weeks falls after rising global bond yields took many investors by surprise. US 10-year Treasury yields climbed to a high of 1.61% on Thursday, representing a 70-basis point rally from the beginning of the ye...
rss: Technical Analysis • Published Mon, 01 Mar 2021 08:11 GMT

Price is facing bullish pressure as it continues to hold above both the Ichimoku cloud and ascending trendline support, in line with our bullish bias. We could potentially see a bounce at our 1st support at 1.53417, which is in line with our 61.8% Fibonac...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 08:10 GMT

Markets The bond selloff eased markedly in Europe last Friday, in part following comments from ECBs Lane and Schnabel. The latter said rising real long-term yield could threaten the recovery. That in turn might lead to more action by the central bank. In ...
rss: Technical Analysis • Published Mon, 01 Mar 2021 08:05 GMT

On Monday, the USD/JPY traded above the 106.50 mark, which appeared to be providing support to the rate. In the meantime, it has to be taken into account that the ...
rss: Technical Analysis • Published Mon, 01 Mar 2021 07:55 GMT

On Monday, the GBP/USD currency exchange rate was testing the resistance of the 1.4000 mark. Meanwhile, a cluster of technical resistance levels was located just above the 1.4000 mark. In ...
rss: Technical Analysis • Published Mon, 01 Mar 2021 07:51 GMT

Technical Market Outlook:The GBP/USD pair has fallen out of the main ascending channel and made a new local low at the level of 1.3889. Since then the bulls tried to bounce, but so far no avail, only the level of 1.3982 had been hit. Moreover, there is th...
rss: Technical Analysis • Published Mon, 01 Mar 2021 07:44 GMT

Technical Market Outlook:The EUR/USD pair has made a new local low at the level of 1.2062 and is trying to bounce higher above the intraday technical resistance located at the level of 1.2091. Despite the oversold market conditions, to bulls are not so mu...
rss: Technical Analysis • Published Mon, 01 Mar 2021 07:03 GMT

Incidents have already dropped quite significantly in the United States. Unfortunately, the same can not be said in Europe, as new cases have gone back to around 19,000, especially in France. Meanwhile, everything is generally fine in Britain, but in Ital...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 06:42 GMT

Market movers today Development in bonds markets continues to be a key driver for most markets. Focus will be on any signs of the ECB increasing bond purchases and lots of Fed speeches throughout the week. In the US today, we get ISM manufacturing. We exp...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 06:22 GMT

Litecoin has remained under pressure over the weekend after the broader cryptocurrency market continues to be sold on any rallies. Multiple time frames show that the LTCUSD pair is trading within a falling wedge pattern, which is considered to be a bullis...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 06:21 GMT

The euro currency remains under pressure against the US dollar, after stage a huge reversal back under the 1.2100 support level. The four-hour time frame shows that the EURUSD pair is testing towards the bottom of a rising price channel, around the 1.2080...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 06:20 GMT

The US dollar is continuing its breakout against the Japanese yen currency, as the pair looks increasingly bullish above the 106.00 level. The weekly time frame shows multiple bullish technical signals, with the 107.65 level a possible upcoming target abo...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 06:19 GMT

The Australian dollar rose slightly against the US dollar after relatively weak manufacturing PMI data from China and Australia. Yesterday, a report by the National Statistics Bureau revealed that the manufacturing PMI fell from 51.3 to 50.6 in January wh...
rss: Technical Analysis • Published Mon, 01 Mar 2021 06:07 GMT

The EUR/AUD currency pair bounced off the lower boundary of a descending channel pattern at 1.5250 on February 25, as a result, the common European currency has surged by 2.83% ...
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 06:05 GMT

Sentiment was given a slight boost in Asia today following the weekend] The post European Open: Minor Bounce For Indices Ahead Of Key PMI Reports appeared first on Action Forex....