AUD/USD was initially rejected by 0.6539 resistance and dipped to 0.6271 last week, but recovered notably since then. Initial bias is turned neutral this week first. On the upside, decisive break of 0.6521 resistance will Read more…
USD/CAD’s break of 1.3494 support last week completes a head and should top pattern (1.3832; h: 1.3976; rs: 1.3807). Initial bias is now on the downside this week for deeper correction, to 1.3207 cluster support Read more…
GBP/JPY edged higher to 172.11 last week but retreated sharply since then. But downside is so far supported by 164.95 support. Initial bias remains neutral first. On the upside, break of 172.11 will resume larger Read more…
EUR/JPY extended the consolidation from 148.38 last week and outlook remains neutral. Initial bias stays neutral this week first. In case of deeper fall, downside should be contained by 55 day EMA (now at 143.15) Read more…
EUR/GBP rebounded strongly last week but upside is still capped by 0.8779 resistance. Initial bias remains neutral first. On the upside, firm break of 0.8779 will argue that fall from 0.9267 has completed, and bring Read more…
EUR/AUD gyrated lower as correction from 1.5704 extended last week. Initial bias stays neutral this week first and deeper fall cannot be ruled out. But downside should contained by 55 day EMA (now at 1.5199) Read more…
EUR/CHF turned into consolidation below 0.9953 last week and outlook is unchanged. Initial bias stays neutral this week first. Downside of retreat should be contained by 0.9798 resistance turned support to bring rebound. On the Read more…
The rumor of earlier reopening in China seemed to have overwhelmed other heavy weight events in the markets last week, including Fed’s hawkish rate hike and non-farm payroll report. Late rally in stock markets helped Read more…
Monday, Nov 7, 2022 Tuesday, Nov 8, 2022 Wednesday, Nov 9, 2022 Thursday, Nov 10, 2022 Friday, Nov 11, 2022 The post Summary 11/7 – 11/11 appeared first on Action Forex.
Last week rounded out the last 3 major central bank meetings for the late October/early November period. All 3 hikes were as expected. The RBA hiked rates by 25bps and is expected to hike further. Read more…