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US initial jobless claims fell -1k to 219k in the week ending December 21, slightly higher than expectation of 218k. Four-week moving average of initial claims rose 1k to 227k. Continuing claims rose 46k to 1910k in the week ending December 14, highest since November 3, 2021. Four-week moving average of continuing claims rose 3k […]

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US Conference Board Consumer Confidence dropped to 104.7 in December, falling short of expectations for 113.2 and down from 112.8 in November. Present Situation Index slipped by -1.2 points to 140.2. The more forward-looking Expectations Index plunged -12.6 points to 81.1, nearing the critical 80 threshold that often signals recession risks. Dana M. Peterson, Chief […]

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Daily Pivots: (S1) 1.0365; (P) 1.0407; (R1) 1.0470; More…. EUR/USD is staying in consolidation above 1.0330 and intraday bias stays neutral for the moment. While stronger recovery cannot be ruled out, outlook will remain bearish as long as 1.0629 resistance holds. Firm break of 1.0330 will confirm decline resumption and target 61.8% projection of 1.0936 […]

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Daily Pivots: (S1) 1.2491; (P) 1.2553; (R1) 1.2630; More… GBP/USD is staying in consolidations above 1.2474 temporary low and intraday bias remains neutral. Outlook will stay bearish as long as 1.2810 resistance holds. On the downside, break of 1.2474 will resume the fall from 1.3433 to 1.2298 cluster support zone. In the bigger picture, price […]

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Daily Pivots: (S1) 155.64; (P) 156.78; (R1) 157.61; More… USD/JPY is staying in consolidation below 157.91 temporary top and intraday bias stays neutral. Deeper pull back cannot be ruled out, but outlook will stay bullish as long as 153.15 support holds. On the upside, break of 157.91 will resume the rally from 139.57 to 61.8% […]

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Daily Pivots: (S1) 0.8898; (P) 0.8946; (R1) 0.8979; More… USD/CHF bounces after drawing support from 55 4H EMA, but stays below 0.9020 temporary top. Intraday bias remains neutral at this point. While deeper pull back might be seen, downside should be contained above 0.8735 support to bring another rally. Above 0.9020 will resume the rise […]

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Dollar edged higher in subdued holiday trading, maintaining its recent  strength but staying within a narrow range below last week’s highs against major currencies. Markets largely brushed aside the disappointing US durable goods orders data, as the series is known for its volatility. Moreover, traders are prioritizing labor market and consumption trends, which Fed views […]

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US durable goods orders dropped -1.1% mom in November to USD 285.1B, significantly missing market expectations of a -0.3% mom decline. This also marks the third decline in the last four months. Excluding transportation, orders edged down -0.1% mom to USD 189.6B, while orders excluding defense fell -0.3% mom to USD 267.4B. The transportation equipment […]

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Canada’s GDP rose 0.3% mom in October, surpassing expectations of 0.2% mom, with 12 out of 20 sectors contributing to the growth. This marked a rebound for the goods-producing industries, which expanded by 0.9% mom after four months of contraction, driven primarily by mining, quarrying, and oil and gas extraction. The services-producing industries edged up […]

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Daily Pivots: (S1) 195.79; (P) 196.55; (R1) 197.34; More… Intraday bias in GBP/JPY remains neutral at this point. As noted before, corrective pattern from 180.00 is extending with another rising leg. Further rise is expected as long as 194.04 support holds. On the upside, above 1999.79 will will target channel resistance (now at 203.19). In […]

The post GBP/JPY Daily Outlook appeared first on Action Forex.

Daily Pivots: (S1) 162.42; (P) 163.04; (R1) 163.73; More… Intraday bias in EUR/JPY stays on the upside for the moment. Corrective pattern from 154.04 is extending with another rising leg. Further rise should be seen to 166.67 resistance next. For now, risk will stay on the upside as long as 159.79 support holds, in case […]

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Daily Pivots: (S1) 0.8276; (P) 0.8294; (R1) 0.8318; More… Intraday bias in EUR/GBP stays neutral for the moment and more consolidations would be seen.. On the upside, break of 0.8326 resistance will indicate short term bottoming, at 0.8221, ahead of 0.8201 key support, on bullish convergence condition in 4H MACD. Intraday bias will be turned […]

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Daily Pivots: (S1) 1.6627; (P) 1.6661; (R1) 1.6717; More… Intraday bias in EUR/AUD remains neutral as consolidations continue below 1.6712. Deeper retreat could be seen, but downside should be contained by 55 4H EMA (now at 1.6553. On the upside, break of 1.6712 will resume the rally from 1.5693 to retest 1.7180 high next. In […]

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Daily Pivots: (S1) 0.9289; (P) 0.9311; (R1) 0.9336; More…. Intraday bias in EUR/CHF is turned neutral first with a temporary low formed at 0.9284. But outlook is unchanged that corrective rebound from 0.9204 should have completed with three waves up to 0.9417 already. Another fall is in favor and below 0.9284 will target 0.9254 support […]

The post EUR/CHF Daily Outlook appeared first on Action Forex.

Daily Pivots: (S1) 1.0365; (P) 1.0407; (R1) 1.0470; More…. Intraday bias in EUR/USD remains neutral first and more consolidations could be seen. While stronger recovery cannot be ruled out, outlook will remain bearish as long as 1.0629 resistance holds. Firm break of 1.0330 will confirm decline resumption and target 61.8% projection of 1.0936 to 10330 […]

The post EUR/USD Daily Outlook appeared first on Action Forex.

Daily Pivots: (S1) 155.64; (P) 156.78; (R1) 157.61; More… Intraday bias in USD/JPY remains neutral as consolidations continues below 157.91 temporary top. Deeper pull back cannot be ruled out, but outlook will stay bullish as long as 153.15 support holds. On the upside, break of 157.91 will resume the rally from 139.57 to 61.8% projection […]

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