Month: October 2022

GBP/JPY dived to as low as 148.93 last week but rebounded strongly since then. The development suggest that corrective fall from 169.10 has completed after drawing support from 151.84 long term fibonacci level. Initial bias Read more…

EUR/JPY rebounded strongly after dipping to 137.32 last week, but stays below 142.28 resistance. Initial bias remains neutral this week first. On the upside, break of 142.28 will indicate that the pull back from 145.62 Read more…

EUR/GBP spiked higher to 0.9267 last week but dropped sharply from there. As downside is contained above 0.8720 resistance turned support, there is no confirmation of reversal yet. Initial bias stays neutral this week. Break Read more…

EUR/AUD’s rebound from 1.4281 resumed last week and accelerated to close strongly at 1.5310. Initial bias stays on the upside this week for 100% projection of 1.4281 to 1.4965 from 1.4716 at 1.5400, which is Read more…

EUR/CHF rebounded strongly after edging lower to 0.9407 last week. But upside is limited below 0.9712 resistance so far. Initial bias stays neutral this week first. On the upside, break of 0.9712 will argue that Read more…

Monday, Oct 3, 2022 Tuesday, Oct 4, 2022 Wednesday, Oct 5, 2022 Thursday, Oct 6, 2022 Friday, Oct 7, 2022 The post Summary 10/3 – 10/7 appeared first on Action Forex.

Summary United States: Going to Take More to Break This Consumer Incoming data indicate a slowing yet resilient economy. Recent strength makes it less likely in our view that a recession will start by the Read more…

Two weeks ago, the Bank of Japan intervened in the fx market and bought Yen, which drove the price of JPY pairs lower.  Last week, the Bank of England took its turn and intervened in Read more…