EURJPY, Daily In the Daily timeframe, EURJPY broke the trend line after a short-term decline and is consolidating at an important resistance. On the Alligator, the lips crossed the jaw, indicating the possibility of further upside. We can consider buying EURJPY on consolidation above 163.500 with a target to 166.500;

The post EURJPY: Upside Opportunity appeared first on Action Forex.

CADJPY, Daily In the Daily timeframe, CADJPY formed a symmetrical triangle pattern. The price is testing the upper trend line and MA50. At the same time, the lips crossed the jaw of the Alligator, indicating a possible upside. If the bulls push the price above the trend line and 109.000, the upside to 111.200 will […]

The post CADJPY: Symmetrical triangle appeared first on Action Forex.

USDCHF, H2 USDCHF is navigating within a symmetrical triangle, sandwiched between the 0.8950 resistance and the 0.8920 support. The price breaks above the DEMA and TEMA, while the RSI breaks below the 50-line. If the price breaks above the upper trendline, the next target will be at the 0.8990 resistance. However, breaching below the 0.8920 […]

The post USDCHF: Symmetrical Triangle appeared first on Action Forex.

European Central Bank (ECB) President Christine Lagarde has signaled that more interest rate cuts may be coming if upcoming inflation data matches expectations. Speaking at the Bank of Lithuania, Lagarde mentioned that the eurozone is nearing its 2% inflation target and hinted at further easing if the current trends continue. The ECB recently reduced interest […]

The post EURCAD: Bearish Outlook appeared first on Action Forex.

The Bank of England (BoE) faces a tricky balancing act as it prepares for its next policy decision. While the British economy has shown signs of contraction—shrinking by 0.1% for the second consecutive month—the latest BoE/Ipsos inflation expectations survey highlights a rise in public inflation concerns. Average inflation expectations for the coming year have increased […]

The post GBPJPY: Bearish Outlook appeared first on Action Forex.

The Australian Dollar (AUD) edged higher on Thursday, recovering some ground against the US Dollar (USD) after the release of US jobs data. The AUDUSD pair is trading at 0.6392, marking a 0.36% increase. Mixed US economic data impacted the Greenback. The US Bureau of Labor Statistics (BLS) reported that initial jobless claims jumped to […]

The post AUDCHF: Bearish Outlook appeared first on Action Forex.

Fundamental Analysis The USD’s revaluation on Tuesday, December 10, 2024, is largely driven by expectations of a 25 basis point rate cut by the European Central Bank (ECB), which would weaken the euro. Markets have already priced in this adjustment, putting pressure on EUR/USD, which has dropped near 1.0520. The ECB’s expansionary monetary policy, contrasted […]

The post USD Strengthens as ECB Rate Cut Looms appeared first on Action Forex.

Gold (XAUUSD) continues to show a positive trend during the European session but stays below the $2,650-2,655 range it has been stuck in for the past two weeks. Friday’s US jobs report boosted expectations that the Federal Reserve will cut interest rates in December, keeping US Treasury yields low and supporting gold prices. Additionally, political […]

The post Gold (XAUUSD) Goes Bullish appeared first on Action Forex.

This Monday, as part of the weekly market review and analysis, we examined the price action on the EURUSD chart across the different timeframes. While the short-term direction appears to be bearish, the long-term sentiment remains bullish, especially on the weekly and daily timeframe charts. Here is my interpretation of the price action on these […]

The post EURUSD Breakdown, 9th December appeared first on Action Forex.

AUDUSD remains near its lowest levels since August touched on Wednesday and looks vulnerable to further declines. However, traders are holding back from making big moves and are waiting for the US Nonfarm Payrolls (NFP) report, which will provide clues on the Federal Reserve’s (Fed) next steps regarding interest rate cuts. This key jobs data […]

The post AUDUSD Looks Bullish Ahead of NFP appeared first on Action Forex.

The US Dollar (USD) lost momentum on Tuesday, reversing some of Monday’s gains and moving closer to key support levels around 106.00, as measured by the Dollar Index (DXY). Meanwhile, the Australian Dollar (AUD) bounced back slightly, recovering some earlier losses, although it remained below the 0.6500 mark during sideways trading. Rising export prices for […]

The post AUDCAD: GDP Data Influences Price appeared first on Action Forex.

The Swiss Franc faces challenges as the Swiss National Bank (SNB) is now expected to cut interest rates by 50 basis points after recent inflation data showed continued weakness. In November, Swiss inflation remained flat at -0.1% month-on-month, the same as in October, while the annual rate rose slightly to 0.7%, still below expectations of […]

The post CHFJPY: Price Outlook Following CPI Data appeared first on Action Forex.

Fundamental Analysis WTI crude oil prices have started to recover, trading at $68.90 amidst rising tensions ahead of the key OPEC+ meeting on Thursday. A critical article by a senior Iranian official has highlighted that the group’s production cut policies have kept prices elevated for too long, incentivizing cheaper oil production outside the cartel, particularly […]

The post WTI Near Key Levels: Trading Setups Ahead of OPEC+ Meeting appeared first on Action Forex.

Headlines on Thursday revealed that Israel may have violated the recent Gaza ceasefire just one day after it began, with reports of tactical military actions targeting areas not included in the agreement. Meanwhile, OPEC+ postponed its output policy meeting from Sunday to December 5, citing scheduling conflicts with Kuwait’s Gulf Cooperation Council meeting. Crude oil […]

The post Oil: Price Contracts as Dollar Tries to Recover appeared first on Action Forex.

The EURUSD currency pair is starting the week trying to stabilize after dropping to 1.0332 last week, its lowest level in two years. The Euro has struggled, falling 4.21% this month and 5.54% since the start of 2024, as concerns about the Eurozone’s slowing economy weigh on the currency. Business activity in the region unexpectedly […]

The post EURUSD: Weekly Market Review appeared first on Action Forex.

The US dollar strengthened following Trump’s victory, pushing the GBPUSD currency pair down to 1.2487, its lowest level in six months, before closing at 1.2528. The pound has dropped 2.86% this month and 1.59% since the start of 2024, with its performance under pressure due to the more robust US economy. In contrast, the UK […]

The post GBPUSD: Weekly Market Review appeared first on Action Forex.

Asian stocks were mixed today, influenced by weak Chinese data and uncertainty around US Federal Reserve policies. Fed Chair Jerome Powell’s cautious stance on cutting interest rates and stronger-than-expected US inflation data have reduced expectations for a December rate cut. This shift has strengthened the US Dollar and boosted Treasury yields. Traders are now closely […]

The post GBPUSD & EURUSD Outlook appeared first on Action Forex.

Fundamental Analysis Spot gold (XAU/USD) is steady near 2567.79 after rebounding from a two-month low of 2530, impacted by the strong US dollar and Jerome Powell’s recent speech. The US Dollar Index (DXY) reached a year-to-date high, bolstered by persistent inflation, a robust labour market, and Powell’s optimistic comments describing the US economy as “remarkably […]

The post XAUUSD: Key Levels Amid USD Strength and Powell’s Remarks appeared first on Action Forex.

The USDCAD currency pair experienced a sudden rise in buying strength as Donald Trump won the US presidential election. This win has given a significant boost to the US Dollar. In contrast, the Canadian Dollar looks weak ahead of crucial domestic employment data. Since Trump’s policies could lead to higher inflation through changes in tariffs […]

The post CAD: Critical Zone Could Turn Bearish appeared first on Action Forex.

The AUDUSD pair saw a sharp drop of over 130 pips today, mainly due to increased demand for the US Dollar (USD). The USD Index (DXY) surged to a four-month high after exit polls from the US presidential election indicated that Republican nominee Donald Trump was leading the race. Additionally, projections that Republicans could gain […]

The post Bearish Scenario on AUD Pairs appeared first on Action Forex.