European currencies remain on the defensive as the new trading year unfolds, with Euro struggling near its lowest level against Dollar since 2022 and Sterling hovering close to a nine-month low. Dollar, while firm, is holding steady in narrow ranges against Yen and commodity-linked currencies, with traders awaiting fresh signals from today’s ISM Manufacturing PMI. […]
The post Euro and Pound Struggle Amid Energy Price Shock and US Trade Threats appeared first on Action Forex.
Daily Pivots: (S1) 1.0281; (P) 1.0302; (R1) 1.0321; More… EUR/USD recovered after brief breach of 1.0223 support and intraday bias remains neutral. With 1.0457 resistance intact, outlook stay bearish. On the downside, firm break of Read more…
Daily Pivots: (S1) 1.2240; (P) 1.2306; (R1) 1.2375; More… GBP/USD’s decline continues today and intraday bias stays on the downside. Sustained trading below 1.2256 fibonacci level will carry larger bearish implications. Next target is 61.8% Read more…
Daily Pivots: (S1) 157.69; (P) 158.04; (R1) 158.51; More… USD/JPY’s rally continues today and intraday bias stays on the upside for 61.8% projection of 139.57 to 156.74 from 148.64 at 159.25. Firm break there will Read more…