The post Eco Data 12/27/24 appeared first on Action Forex.

AUDUSD reversed from resistance level 0.6270 Likely to fall to support level 0.6200 AUDUSD currency pair recently reversed down from the resistance level 0.6270 (former multi-month support from the start October of 2023, acting as the resistance after it was broken yesterday). The downward reversal from the resistance level 0.6270 stopped the previous minor correction […]

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WTI broke daily Triangle Likely to rise to resistance level 70.90 WTI crude oil today broke the resistance trendline of the daily Triangle from the end of October, inside which the price has been moving from October. The breakout of this Triangle continues the active short-term impulse wave (iii) of the higher order impulse wave […]

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USDJPY keeps firm tone in holiday-thinned trading on Thursday and pressuring last Friday’s peak at 157.92 (the highest since mid-July). The pair is on track for the fourth consecutive weekly gain and for over 5% monthly advance in December. Hawkish signals from Fed on expectations that inflation will remain elevated for some time and continue […]

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Forbes analysts predict 2025 will be a pivotal year for Bitcoin, solidifying its position as a global financial asset. Their key forecasts include: → Regulatory Shifts: A change in SEC policies is expected to foster growth in the cryptocurrency sector, driving the cryptocurrency market capitalisation from approximately $3.3 trillion to $8 trillion. → Strategic Reserves: […]

The post BTC/USD Fails to Surpass $100,000: Bitcoin Price Forecasts for 2025 appeared first on Action Forex.

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;

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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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Key Highlights Ethereum found support near $3,100 and corrected some losses. ETH traded below a key bullish trend line with support at $3,680 on the daily chart. Bitcoin price must settle above $100,000 to start a fresh increase. XRP could gain bullish momentum if it clears the $2.50 resistance. Ethereum Technical Analysis Ethereum declined heavily […]

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GBPUSD finds strong support in 1.2480 region But upside momentum struggles to take off GBPUSD has managed to hold above the 1.2500 mark this week following last week’s post-Fed tumble that pulled the pair to the lowest since May, hitting 1.2474. The slide reinforced the medium-term downtrend line as a strong resistance wall, but now […]

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Forex trading is slowing down as the holidays approach, offering a pause after significant movements driven by various news events, including central bank decisions. Notably, NZD/USD reached its lowest level since October 2022 at the end of last week. The decline in NZD/USD has been influenced by two main factors: 1. The dollar gained momentum […]

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The Australian dollar has posted slight losses on Tuesday. In the European session, AUD/USD is trading at 0.6247, down 0.18% at the time of writing. RBA minutes hint at rate cut The Reserve Bank of Australia minutes from the December meeting were significant although they didn’t have much impact on the Australian dollar. The minutes […]

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Despite the Federal Reserve’s hawkish stance and the upcoming inauguration of Donald Trump, who has frequently discussed the possibility of new trade tariffs, EUR/USD and GBP/USD managed to find medium-term support last week. Both pairs are now attempting to recover toward recent highs. GBP/USD Last week, GBP/USD broke below the November low at 1.2480. However, […]

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It’s never too late to believe in Santa. Investors on Monday were shrugging off the bad news of past week – especially the one that suggested that the Federal Reserve (Fed) would cut its rates only two times in 2025 due to a too resilient US economy. Yesterday’s data that showed that the US durable […]

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Key Highlights AUD/USD declined heavily below the 0.6380 and 0.6350 support levels. A major bearish trend line is forming with resistance near 0.6280 on the 4-hour chart. EUR/USD is consolidating below the 1.0450 resistance zone. Gold is attempting to recover above the $2,620 pivot level. AUD/USD Technical Analysis The Aussie Dollar started a major decline […]

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USDJPY reversed from key support level 156.35 Likely to rise to resistance level 158.00 USDJPY currency pair recently reversed up from the key support level 156.35 (former resistance from November, acting as she support after it was broken last week). The upward reversal from the support level 156.35 continues the active minor impulse waves iii […]

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Nasdaq 100 reversed from strong support level 21000.00 Likely to rise to resistance level 22000.00 Nasdaq 100 index recently reversed up from the strong support level 21000.00 (former resistance from the start of November), intersecting with the support trendline of the daily up channel from November and the 50% Fibonacci correction of the upward impulse […]

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Formally, inflation figures and lower-than-forecast expectations helped the market to find ground for a rebound. However, the declines of the previous days may have broken the backbone of the bull market. A couple of technical signals indicate this. Primarily, there is a series of 11 sessions of declines in the Dow Jones. This is one […]

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