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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....
rss: Action Forex • Fundamental Analysis • Published Mon, 01 Mar 2021 05:48 GMT

General Trend Asian indices have remained higher after opening in the green Tech cos. are moving generally higher Gainers in Japan include Information ] The post USD Index FUTs Decline After Prior Gain, UST FUTS Fluctuate, Aussie Yields Decline appeared f...
rss: Technical Analysis • Published Mon, 01 Mar 2021 04:35 GMT

It is good when news comes every day or two that can move the cryptocurrency market. Elon Musk posted on Twitter about bitcoin - plus $5,000, Tesla bought bitcoins - plus $5,000, MicroStrategy raised a couple of billion to invest in bitcoin - plus another...
rss: Technical Analysis • Published Mon, 01 Mar 2021 02:55 GMT

USD/JPYIn its growth, the USD/JPY pair reached the target range of 106.50/65 and a double divergence formed with the Marlin oscillator. At first glance, a deep correction seems inevitable, but the oscillator readings are not limited to the standard diverg...
rss: Action Forex • Technical Analysis • Published Mon, 01 Mar 2021 02:41 GMT

Key Highlights EUR/USD topped near 1.2240 and started a fresh decline. There was a break below an ascending channel with support at 1.2090 on the 4-hours chart. GBP/USD trimmed gains and traded below 1.4000, whereas USD/JPY extended its rally above 106.50...
rss: Technical Analysis • Published Sun, 28 Feb 2021 21:26 GMT

Hourly chart of the GBP/USD pairThe GBP/USD pair also started a strong downward movement at the end of last week. After it had increased for five consecutive months with only occasional minor corrections, such a strong downward movement was expected, but ...
rss: Technical Analysis • Published Sun, 28 Feb 2021 12:42 GMT

After the strongest growth in the last five months, bitcoin has started a second serious wave of correction. In theory, if the current downward movement is a correction, then a new wave of upward movement will inevitably follow, which can bring the "digit...
rss: Action Forex • Fundamental Analysis • Published Sat, 27 Feb 2021 04:06 GMT

U.S. Review The U.S. Economy Continues to Start 2021 on a High Note In January, personal spending increased at a robust 2.4% pace, while personal income soared 10.0%. The core PCE deflator rose 0.3% during the month and 1.5% over the year. Fed Chair Powel...
rss: Action Forex • Fundamental Analysis • Published Sat, 27 Feb 2021 03:27 GMT

U.S. Highlights Federal Reserve Chairman Powell reassured markets that there will be no early tightening of monetary policy or drawdown of asset purchases even with a brighter economic outlook. Consumers remain at the forefront of the recovery, as persona...
rss: Action Forex • Fundamental Analysis • Published Sat, 27 Feb 2021 03:18 GMT

Fed Chairman Powell provided testimony to Congress last week regarding Monetary Policy. ...
rss: Action Forex • Technical Analysis • Published Sat, 27 Feb 2021 03:15 GMT

With the US Dollar screaming higher today, its no surprise that Gold is moving aggressively lower....
rss: Action Forex • Fundamental Analysis • Published Sat, 27 Feb 2021 03:11 GMT

Powell fails to ease concerns Everyone is watching the bond markets at the moment, as yields accelerate higher and investors become increasingly anxious. That is dominating the headlines and its unlikely to change next week, with the jobs report on Friday...
rss: Technical Analysis • Published Fri, 26 Feb 2021 21:18 GMT

EURUSD is ending the week at its lowest levels. Having reached our target 1.2220, it is a bearish sign to see such a strong reversal. Price tried to break out above the Ichimoku cloud (Kumo) but it got rejected and is now challenging the lower cloud bound...
rss: Technical Analysis • Published Fri, 26 Feb 2021 21:13 GMT

USDJPY remains in a bullish trend. Price has reached the upper channel boundary at 106.70 which was our target that we mentioned in our previous post. The RSI continues to provide a warning to bulls as it was not able to make higher highs.Blue lines - bul...
rss: Technical Analysis • Published Fri, 26 Feb 2021 21:08 GMT

Ethereum is trading at $1,450 area after a strong bounce from $1,365 to $1,707. In our last analysis about Ethereum we mentioned that as long as price is below $1,776 we expect price to remain vulnerable to a move at least to recent lows of $1,365 and may...
rss: Technical Analysis • Published Fri, 26 Feb 2021 21:01 GMT

Gold price today broke below the double bottom formation and the November low at $1,763. Price has sharply moved lower towards $1,730 as expected by our previous analysis, making a low at $1,716. Short-term trend remains bearish.Blue lines - bearish chann...
rss: Action Forex • Fundamental Analysis • Published Fri, 26 Feb 2021 15:36 GMT

As a new month starts, investors will have their eyes locked on the latest nonfarm payrolls numbers out of the United States amid an accelerating selloff in bond markets. The Reserve Bank of Australias policy meeting will be the only central bank gatherin...
rss: Action Forex • Fundamental Analysis • Published Fri, 26 Feb 2021 15:32 GMT

We expect GDP rose 7.5% at an annualized rate in Q4 of last year, on the back of a 0.3% increase in December output (in line with Statistics Canadas preliminary estimate a month ago.) That would mean about 80% of the collapse in activity last spring was r...
rss: Action Forex • Fundamental Analysis • Published Fri, 26 Feb 2021 15:30 GMT

Yields continued up this week US 10yr government bond yields reached a one-year high. Oil prices increased above USD67/barrel and industrial metals, particularly copper, have accelerated further as well, weakening safe haven currencies like JPY and CHF. T...
rss: Action Forex • Fundamental Analysis • Published Fri, 26 Feb 2021 15:28 GMT

The Reserve Bank Board meets next week on March 2. While we have seen extraordinary developments in bond markets over the last week, I do not think they will impact the Bank] The post RBA Board to Hold the Line Next Week appeared first on Action Forex....
rss: Action Forex • Fundamental Analysis • Published Fri, 26 Feb 2021 14:46 GMT

Personal income surged by 10% month-on-month in January, on par with market expectations. The strength was largely due to the increase in social benefits (+52.6% m/m), specifically, the stimulus checks and expanded unemployment insurance benefits from the...
rss: Technical Analysis • Published Fri, 26 Feb 2021 13:55 GMT

After hitting new records last week at the $ 58,335 level, Bitcoin now materializes the worst of the fears of those who invest in it: its high exposure to volatility. At this time of writing it is trading at $ 46,600 below the 21 SMA and above the 200 EMA...
rss: Technical Analysis • Published Fri, 26 Feb 2021 13:53 GMT

Gold witnessed some follow-through selling for the second consecutive session on Friday.Technical indicators on daily charts support prospects for a further near-term decline.Gold remained depressed through the first half of the European session, albeit h...
rss: Technical Analysis • Published Fri, 26 Feb 2021 13:35 GMT

Further Development Analyzing the current trading chart of BTC, I found BTC reached my first downside target at the price of $45,300 but that there is still downside pressure and potentia lfor next downside targets. Key Levels: Resistance: $48,000 Suppor...
rss: Technical Analysis • Published Fri, 26 Feb 2021 13:21 GMT

BOJ purchases ETFs for the first time this month amid market rout The BOJ last bought ETFs on 28 January and held off buying more until today The Japanese central bank bought 6 trillion worth of ETFs at an annual average pace so that is something to con...
rss: Technical Analysis • Published Fri, 26 Feb 2021 13:08 GMT

In the best-case scenario, in 2021, oil prices will advance to $85 a barrel. This forecast will come true in case of a recovery of the global oil demand and successful vaccination against the coronavirus infection. Today, oil prices are rising due to ...
rss: Technical Analysis • Published Fri, 26 Feb 2021 12:54 GMT

GBP/USD has fallen sharply, trading below 1.39 and down some 350 pips from the highs. The US dollar picks up bids as the bond market rout seems to resume. BOE Governor Bailey expects a negative first quarter for the economy.GBPUSD pair is at risk while tr...
rss: Action Forex • Fundamental Analysis • Published Fri, 26 Feb 2021 12:31 GMT

It] The post A Wild End to the Week appeared first on Action Forex....
rss: Technical Analysis • Published Fri, 26 Feb 2021 12:03 GMT

EUR/USD comes under pressure and returns to 1.2100The dollar bounces off lows on the back of higher yields.EUR/USD has extended its falls under 1.2130 as the risk-off mood and elevated US bond yields favor the dollar. The sharp and sudden pick up in yield...
rss: Action Forex • Fundamental Analysis • Published Fri, 26 Feb 2021 11:15 GMT

The USD tended to gain against a number of its counterparts yesterday, while US stockmarkets displayed sharp drops as USD enjoyed safe haven inflows and USD buyers were also encouraged by the rise of the US yields. Its characteristic of the bond sell off ...