USD/CAD’s decline from 1.3704 continued last week but lost some momentum as seen in 4 hour MACD. While further decline cannot be ruled out this week, downside should be contained above 1.3224 key support level. Read more…
Enlarge / An air traffic control tower is seen at JFK airport on January 11 in New York City. (credit: Michael M. Santiago/Getty Images) Late in the evening of Jan. 10, 2023, an important digital Read more…
GBP/JPY edged higher to 161.22 last week but failed to break through 162.32 resistance and reversed. Initial bias is now on the downside this week for 155.33 support first. Firm break there will resume whole Read more…
EUR/JPY rose to 142.84 last week but was rejected by 142.92 resistance and 55 day EMA and dropped sharply since then. Initial bias stays on the downside this week for 137.37 support first. Break there Read more…
The Republican controlled House of Representatives threatens to risk the faith and credit of the U.S. as it engages in controversy over paying bills already incurred. As the nation braces itself for a widely predicted Read more…
EUR/GBP’s rise from 0.8545 resumed last week but quickly retreated after hitting 0.8896. Initial bias is turned neutral this week first. But further rally is expected as long as 0.8768 support holds. Above 0.8896 will Read more…
EUR/AUD edged lower last week but quickly recovered. Yet, upside is limited by 1.5614 resistance. Initial bias remains neutral this week first. Another fall cannot be ruled out, but strong support could be seen from Read more…
EUR/CHF’s rise from 0.9407 finally resumed by breaking through 0.9953 last week, and hit as high as 1.0095. But as a temporary top was formed with subsequent retreat, initial bias is turned neutral this week Read more…
Dollar was sold off broadly last week as a 25bps rate hike by Fed in February is now pretty much a done deal, after CPI data. On the other hand, Yen staged a strong rally Read more…
Monday, Jan 16, 2023 Tuesday, Jan 17, 2023 Wednesday, Jan 18, 2023 Thursday, Jan 19, 2023 Friday, Jan 20, 2023 The post Summary 1/16 – 1/20 appeared first on Action Forex.