AUD/USD’s break of 0.6992 support indicate resumptions of whole down trend from 0.8006. Initial bias stays on the downside this week. Next target is 100% projection of 0.7555 to 0.6992 from 0.7313 at 0.6750. On Read more…
USD/CAD’s rebound from 1.2448 extends higher last week. Initial bias stays on the upside this week. Break of 1.2812 will target 1.2963 resistance next. On the downside, below 1.2558 minor support will turn bias back Read more…
GBP/JPY recovered after dipping to 152.88 last week. Initial bias remains neutral this week first. Outlook is unchanged that fall from 157.74 should be the third leg of the corrective pattern from 158.19. Deeper decline Read more…
EUR/JPY turned sideway after dipping to 128.23 last week. Initial bias stays neutral this week first. But outlook is unchanged that corrective pattern from 134.11 is extending with another falling leg. Further decline is expected Read more…
EUR/GBP’s decline last week suggests that rebound form 0.8304 has completed at 0.8421 after rejection by 55 day EMA. Initial bias stays on the downside this week. Break of 0.8304 will resume larger down trend Read more…
EUR/AUD’s choppy rise from 1.5559 resumed last week. Initial bias is now mildly on the upside this week for retesting 1.6168 resistance. Break there will resume the rise from 1.5354 to 1.6434 resistance. On the Read more…
EUR/CHF’s down trend resumed last week and dipped to 1.0298, but quickly recovered. Initial bias is neutral this week first. While stronger recovery cannot be ruled out, upside should be limited well below 1.0510 resistance. Read more…
The FOMC meeting turned out to me more hawkish than expected and markets are now pricing in four to five hikes this year, instead of three. Dollar was given a strong boost and surged broadly Read more…
Monday, Jan 31, 2022 Tuesday, Feb 1, 2022 Wednesday, Feb 2, 2022 Thursday, Feb 3, 2022 Friday, Feb 4, 2022 The post Summary 1/24 – 1/28 appeared first on Action Forex.
Summary United States: Moderating Growth and a More Aggressive Fed The economy had the wind at its back in 2021 with generous fiscal policy and an accommodative Fed. Inflation and supply chains were the key Read more…