AUD/USD rebounded to 0.7167 last week but reversed from there. Initial bias is mildly on the downside this week for retesting 0.6966. Firm break there and sustained trading below 0.6991 will extend the down trend Read more…
USD/CAD turned into sideway consolidation last week, but retreat was contained well above 4 hour 55 EMA and 55 day EMA. Initial bias remains neutral first and further rise is in favor. Break of 1.2795 Read more…
EUR/GBP’s strong break of 0.8421 resistance last weeks argues that a medium term bottom was formed at 0.8282, on bullish convergence condition in daily MACD, ahead of 0.8276 key long term support. Initial bias remains Read more…
EUR/AUD’s rise from 1.5559 accelerated to as high as 1.6223 last week. Break of 1.6168 resistance confirmed resumption of whole rise from 1.5354. Initial bias stays on the upside this week for 100% projection of Read more…
EUR/JPY’s strong rally and break of 131.59 resistance last week confirmed resumption of rise from 127.36. Also, it revived the case that corrective pattern from 134.11 has completed with three waves down to 127.36. Initial Read more…
GBP/JPY’s rebound from 152.88 extended higher last week, but lost momentum after hitting 156.48. Initial bias is neutral this week first. The consolidation pattern from 158.19 could still extend further. On the downside, below 154.46 Read more…
EUR/CHF soared to as high as 1.0515 last week and a medium term bottom should be formed at 1.0298 on bullish convergence condition in daily MACD. Initial bias stays on the upside this week for Read more…
It was a week a surprises. While BoE delivered that a 25bps hike, four of the nine MPC members have indeed voted for a 50bps raise. However, there was no follow through buying as BoE Read more…
Monday, Feb 7, 2022 Tuesday, Feb 8, 2022 Wednesday, Feb 9, 2022 Thursday, Feb 10, 2022 Friday, Feb 11, 2022 The post Summary 2/7 – 2/11 appeared first on Action Forex.
Summary United States: Omicron Not Enough to Crash the Payroll Party This week ushered in a broad range of economic indicators that covered everything from supply chains to the housing market, but needless to say Read more…