Category: Cryptocurrencies

EUR/USD rose to 1.1032 last week but retreated since then. The breach of 1.0800 minor support argues that a short term top was already formed, on bearish divergence condition in 4 hour MACD. Initial bias Read more…

USD/JPY extended the sideway trading from 127.20 last week and outlook is unchanged. Initial bias stays neutral this week first. On the upside, break of 131.56 resistance should confirm short term bottoming, and turn bias Read more…

GBP/USD’s decline last week confirmed that rebound from 1.1840 has completed at 1.2446, after rejection by 1.2445 resistance. Corrective pattern from 1.2445 should now be in its third leg. Initial bias stays on the downside Read more…

USD/CHF edged lower to 0.9058 last week, but quickly rebounded just ahead of 61.8% projection of 1.0146 to 0.9355 from 0.9545 at 0.9056. Initial bias remains neutral this week first. On the upside, firm break Read more…

AUD/USD edged higher to 0.7156 last week, but subsequent steep pull back indicates short term topping. Initial bias is now on the downside this week for 55 day EMA (now at 0.6806) and possibly below. Read more…

USD/CAD gyrated lower to 1.3261 last week but recovered strongly since then. Initial bias stays neutral this week and outlook is unchanged. While the choppy fall from 1.3704 might still extend lower, strong support is Read more…

With the help from strong economic data, Dollar struck back to end as the strongest one, after a week full of heavy weight events. Traders might start to give up on fighting the Fed on Read more…

Monday, Feb 6, 2023 Tuesday, Feb 7, 2023 Wednesday, Feb 8, 2023 Thursday, Feb 9, 2023 Friday, Feb 10, 2023 The post Summary 2/6 – 2/10 appeared first on Action Forex.

After a ruckus week, which included US NFP and rate hikes from the Fed, BoE, and ECB, the markets may begin to calm a bit as they digest the latest economic data and monetary policy Read more…