The Euro turned to red on Friday after recovery on Wed/Thu was capped by the base of thick daily cloud (spanned between 1.0566 and 1.0767)) and dollar returns to strength after hawkish Fed and BoJ remaining on hold. The action remains heavily weighed by daily cloud and bearish studies on daily chart, with Thursday’s bull-trap […]
The post EUR/USD Outlook: Near-Term Risk Shifts Lower after Thick Daily Cloud Capped Recovery appeared first on Action Forex.
AUD/USD’s late breach of 0.7221 last week suggests the recent up trend is resuming. Initial bias is mildly on the upside this week. Next target is 61.8% projection of 0.6420 to 0.7187 from 0.6832 at Read more…
USD/CAD’s fall from 1.3965 continued last week after brief recovery. Initial bias stays on the downside this week for retesting 1.3480 low. Decisive break there will resume whole down trend from 1.4791. For now, risk Read more…
GBP/JPY’s steep decline last week indicates medium term topping at 216.58, on bearish divergence condition in D MACD. But as a temporary low was formed at 210.43, initial bias is turned neutral this week first. Read more…