The foreign exchange market remains under pressure from prevailing uncertainty, although corrective movements in major currency pairs appear to be nearing completion. EUR/USD The EUR/USD pair is trading above 1.1700, showing resilience following a pullback from local highs. The pair is supported by falling US Treasury yields and a broadly weaker US dollar. Tomorrow’s releases […]
The post Euro May Extend Gains; Yen Strengthens, but Market Reversal Risks Persist 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…