Contributors – Action Forex https://www.actionforex.com Live Forex Analysis, Currency Rates, Economic Calendar, Technical Forecast, Fundamental News, Free Trading Signals. Best. USD Dollar, EUR Euro, JPY Yen, GBP Pound, CHF Swiss Franc, CAD Canadian Dollar, AUD Australian Dollar, NZD New Zealand Dollar Fri, 10 Jul 2020 03:23:50 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.2 USD/JPY At Risk of More Downsides Below 107.00 https://www.actionforex.com/contributors/technical-analysis/309838-usd-jpy-at-risk-of-more-downsides-below-107-00/ https://www.actionforex.com/contributors/technical-analysis/309838-usd-jpy-at-risk-of-more-downsides-below-107-00/#respond Fri, 10 Jul 2020 03:23:23 +0000 https://www.actionforex.com/?p=309838 Key Highlights USD/JPY is facing a strong resistance near 108.00 and 108.15. There was a break below an ascending channel with support at 107.50 on the 4-hours chart. GBP/USD broke the 1.2600 barrier and traded to a new monthly high above 1.2650. The US Initial Jobless Claims in the week ending July 04, 2020 declined […]

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Asia Morning: U.S. Stocks Mixed As Oil Prices Sink https://www.actionforex.com/contributors/fundamental-analysis/309835-asia-morning-u-s-stocks-mixed-as-oil-prices-sink/ https://www.actionforex.com/contributors/fundamental-analysis/309835-asia-morning-u-s-stocks-mixed-as-oil-prices-sink/#respond Fri, 10 Jul 2020 03:13:55 +0000 https://www.actionforex.com/?p=309835 On Thursday, U.S. stocks ended mixed with the Nasdaq 100 Index (+87 points or 0.82% to 10754) marking another record close. The Dow Jones Industrial Average shed 361 points (-1.39%) to 25706, and the S&P 500 fell 17 points (-0.56%) to 3152. Dow Jones Industrial Average: Daily Chart Investors began to doubt smooth reopening from […]

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Bearish Technical Events Identified In NZD And AUD https://www.actionforex.com/contributors/technical-analysis/309831-bearish-technical-events-identified-in-nzd-and-aud/ https://www.actionforex.com/contributors/technical-analysis/309831-bearish-technical-events-identified-in-nzd-and-aud/#respond Fri, 10 Jul 2020 03:12:17 +0000 https://www.actionforex.com/?p=309831 The NZD/USD currency pair has had an impressive run since posting lows near the 0.547 level back in March but are we near a short term top? Using the “Technical Insight” research tool under the Market Analysis tab, we have identified a bearish technical event. The NZD/USD confirmed an Inside Bar candlestick pattern. An Inside […]

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Gold Outlook: Bullish Bias above $1800 but Bulls May Hold in Extended Consolidation Before Resuming https://www.actionforex.com/contributors/technical-analysis/309828-gold-outlook-bullish-bias-above-1800-but-bulls-may-hold-in-extended-consolidation-before-resuming/ https://www.actionforex.com/contributors/technical-analysis/309828-gold-outlook-bullish-bias-above-1800-but-bulls-may-hold-in-extended-consolidation-before-resuming/#respond Thu, 09 Jul 2020 15:50:09 +0000 https://www.actionforex.com/?p=309828 Spot gold continues to shine and accelerates higher in early US session on Thursday after the consolidation under new multi-year high ($1818) found footstep above $1800 level which now acts as strong support. Wednesday’s break and close above significant $1795/$1802 resistance zone (former highs / psychological level) generated strong bullish signal, which will require weekly […]

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Fear Gauge and Gold are Still Flashing Red; Are Stocks Finally Taking Note? https://www.actionforex.com/contributors/fundamental-analysis/309822-fear-gauge-and-gold-are-still-flashing-red-are-stocks-finally-taking-note/ https://www.actionforex.com/contributors/fundamental-analysis/309822-fear-gauge-and-gold-are-still-flashing-red-are-stocks-finally-taking-note/#respond Thu, 09 Jul 2020 15:46:47 +0000 https://www.actionforex.com/?p=309822 The resurgence in coronavirus cases appears to have put a pause on the relentless risk rally that has propelled global stocks to recoup almost 80% of the March crash. But as stocks drift sideways while investors re-evaluate the prospect of a V-shaped recovery, the bulls still seem to have the upper hand. A resumption of […]

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Pound: Six Months Remaining for a Brexit Trade Deal https://www.actionforex.com/contributors/fundamental-analysis/309818-pound-six-months-remaining-for-a-brexit-trade-deal/ https://www.actionforex.com/contributors/fundamental-analysis/309818-pound-six-months-remaining-for-a-brexit-trade-deal/#respond Thu, 09 Jul 2020 15:44:16 +0000 https://www.actionforex.com/?p=309818 While the world is nervous about the Covid-19 second wave, the British pound has another reason to worry about its recovery: the Brexit saga. Six months after its departure from the European Union, the UK has just started to negotiate the terms of a trade deal with the bloc. And while the blame for the […]

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Sunset Market Commentary https://www.actionforex.com/contributors/fundamental-analysis/309809-sunset-market-commentary-577/ https://www.actionforex.com/contributors/fundamental-analysis/309809-sunset-market-commentary-577/#respond Thu, 09 Jul 2020 14:12:04 +0000 https://www.actionforex.com/?p=309809 Markets In some way today’s global market development was a bit similar to yesterday. Chinese markets are still taking the lead in in a risk rally with stocks and the yuan outperforming. Several other regions/markets are trying to join this course but are trailing it by (quite a big) distance. Especially European equities fail to […]

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Canadian Housing Starts Up Again in June https://www.actionforex.com/contributors/fundamental-analysis/309805-canadian-housing-starts-up-again-in-june/ https://www.actionforex.com/contributors/fundamental-analysis/309805-canadian-housing-starts-up-again-in-june/#respond Thu, 09 Jul 2020 14:09:56 +0000 https://www.actionforex.com/?p=309805 Total housing starts up to 212k in June Ontario starts led the rise Go-forward risks remain but recent economic indicators for June have been stronger than expected Canadian housing starts edged up to 212k in June, further rebounding from the trough of 165k in April and back to slightly above their (pre-shock) February level already. […]

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Jobless Claims Continue to Head in Right Direction, Biden’s Economic Plan, Oil Anchored, Gold Shines https://www.actionforex.com/contributors/fundamental-analysis/309791-jobless-claims-continue-to-head-in-right-direction-bidens-economic-plan-oil-anchored-gold-shines/ https://www.actionforex.com/contributors/fundamental-analysis/309791-jobless-claims-continue-to-head-in-right-direction-bidens-economic-plan-oil-anchored-gold-shines/#respond Thu, 09 Jul 2020 13:46:21 +0000 https://www.actionforex.com/?p=309791 Risk appetite is struggling as the coronavirus spread is still not under control in most parts of the world and as geopolitical tensions between China and the West intensify. Australia’s decision to suspend the extradition treaty with Hong Kong in response to their new security law shows the US could have international support in dealing […]

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US 100 Index Flies to Fresh Record Peak https://www.actionforex.com/contributors/technical-analysis/309788-us-100-index-flies-to-fresh-record-peak/ https://www.actionforex.com/contributors/technical-analysis/309788-us-100-index-flies-to-fresh-record-peak/#respond Thu, 09 Jul 2020 13:38:14 +0000 https://www.actionforex.com/?p=309788 The US 100 cash index recorded a new all-time high of 10,727.95 earlier today, continuing the steep increase from the 14-month trough of 6,635. The golden cross within the 50- and the 200-day simple moving averages (SMAs) remains intact and the RSI indicator is heading higher marginally above the 70 level. However, the stochastic oscillator […]

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Cable Up after Mini Budget, Brexit Talks Resume https://www.actionforex.com/contributors/fundamental-analysis/309778-cable-up-after-mini-budget-brexit-talks-resume/ https://www.actionforex.com/contributors/fundamental-analysis/309778-cable-up-after-mini-budget-brexit-talks-resume/#respond Thu, 09 Jul 2020 13:06:42 +0000 https://www.actionforex.com/?p=309778 With the US dollar continuing to underperform, the British pound has taken advantage and racked up gains of 1.2% this week. Currently, GBP/USD is trading at 1.2649, up 0.32% on the day. This week’s economic data has been mostly of the second-tier variety, so the markets had more time to focus on the UK summer […]

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US Futures Mixed, Watch WBA, CSCO, MSFT, BBBY https://www.actionforex.com/contributors/fundamental-analysis/309772-us-futures-mixed-watch-wba-csco-msft-bbby/ https://www.actionforex.com/contributors/fundamental-analysis/309772-us-futures-mixed-watch-wba-csco-msft-bbby/#respond Thu, 09 Jul 2020 12:35:15 +0000 https://www.actionforex.com/?p=309772 The S&P 500 Futures are consolidating, except the Nasdaq 100 future, trading higher after reaching a fresh record close of 10666 on Wednesday. Today, the U.S. Labor Department will release initial jobless claims in the week ended July 4 and the Commerce Department will report final readings of May wholesale inventories. European indices are mixed, with […]

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WTI Futures’ Positive Momentum Fades https://www.actionforex.com/contributors/technical-analysis/309769-wti-futures-positive-momentum-fades/ https://www.actionforex.com/contributors/technical-analysis/309769-wti-futures-positive-momentum-fades/#respond Thu, 09 Jul 2020 11:47:50 +0000 https://www.actionforex.com/?p=309769 WTI oil futures’ positive drive loses fuel as it creeps sideways below the 41.60 resistance. The slowing in the ascent is also reflected in the Ichimoku lines as their positive bearing begins to flatten out. The short-term oscillators are grasping onto hopes that the positive picture may resume shortly. The MACD, in the positive region, […]

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Silver Hits Pre-Pandemic High Of $19 https://www.actionforex.com/contributors/technical-analysis/309765-silver-hits-pre-pandemic-high-of-19/ https://www.actionforex.com/contributors/technical-analysis/309765-silver-hits-pre-pandemic-high-of-19/#respond Thu, 09 Jul 2020 11:36:56 +0000 https://www.actionforex.com/?p=309765 Both precious metals remain in demand for now. This is mainly due to historically low interest rates and as the vast central bank QE and government stimulus money is finding its way into these assets, as well as stocks. Economic concerns due to the impact of Covid-19 and fears over a potential stock market correction […]

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Gold Punches Past USD 1800, Oil Drifts https://www.actionforex.com/contributors/fundamental-analysis/309763-gold-punches-past-usd-1800-oil-drifts/ https://www.actionforex.com/contributors/fundamental-analysis/309763-gold-punches-past-usd-1800-oil-drifts/#respond Thu, 09 Jul 2020 11:33:54 +0000 https://www.actionforex.com/?p=309763 Oil drifts higher as range-trading continues A fall in US gasoline inventories by 4.85 million barrels overnight offset the unexpected rise in official crude inventories by 5.65 million barrels. That limited any negative sentiment and reassured investors that petroleum consumption remains robust in the US, despite the economic hit caused by the increase in Covid-19 […]

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Normal Service Is Resumed https://www.actionforex.com/contributors/fundamental-analysis/309761-normal-service-is-resumed/ https://www.actionforex.com/contributors/fundamental-analysis/309761-normal-service-is-resumed/#respond Thu, 09 Jul 2020 11:30:01 +0000 https://www.actionforex.com/?p=309761 Financial Markets Recover As quickly as it appeared, the doom and gloom of yesterday was consigned to the financial market’s dustbin, with normal service resuming on Wall Street overnight. US equities recorded a strong session led by the usual suspects, big tech. The US dollar continued its gentle move lower while energy markets crept higher. […]

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Continued Focus On Various Cornavirus Hot-Spots https://www.actionforex.com/contributors/fundamental-analysis/309758-continued-focus-on-various-cornavirus-hot-spots/ https://www.actionforex.com/contributors/fundamental-analysis/309758-continued-focus-on-various-cornavirus-hot-spots/#respond Thu, 09 Jul 2020 11:16:09 +0000 https://www.actionforex.com/?p=309758 Notes/Observations German exports rebound in May on higher demand spurred by the lifting of lockdown measures China equities extending their recent rally; Shanghai Composite rises for 8th straight session to highest level since Feb 2018 Asia: China Jun CPI in-line with YoY at 2.5% BOJ quarterly Regional Economic Report (Sakura) again cut its assessment in […]

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GBP/USD Outlook: Extended Rally Focuses Key Barriers https://www.actionforex.com/contributors/technical-analysis/309755-gbp-usd-outlook-extended-rally-focuses-key-barriers/ https://www.actionforex.com/contributors/technical-analysis/309755-gbp-usd-outlook-extended-rally-focuses-key-barriers/#respond Thu, 09 Jul 2020 11:12:43 +0000 https://www.actionforex.com/?p=309755 Cable extends advance into fourth consecutive day and hits new three-week high on Thursday, up 1.4% since Monday. Strong risk sentiment and optimism over EU/UK trade talks continues to boost sterling, with Wednesday’s close above 1.2598 (Fibo 61.8% of 1.2813/1.2251) generating bullish signal. Today’s extension higher approaches strong barriers at 1.2680/87 (Fibo 76.4% / 200DMA), […]

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EUR/USD Analysis: Touched Monthly R2 https://www.actionforex.com/contributors/technical-analysis/309752-eur-usd-analysis-touched-monthly-r2/ https://www.actionforex.com/contributors/technical-analysis/309752-eur-usd-analysis-touched-monthly-r2/#respond Thu, 09 Jul 2020 11:11:16 +0000 https://www.actionforex.com/?p=309752 On Wednesday, the EUR/USD currency pair raised to the 1.1340 level. During today’s morning, the pair tested the resistance level—the weekly R1 at 1.1364. It is likely that some downside potential could prevail, and the exchange rate could re-test the lower line of the short-term ascending channel circa 1.1290. Meanwhile, note that the rate could gain support […]

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GBP/USD Analysis: Tests Fibo 61.80% https://www.actionforex.com/contributors/technical-analysis/309749-gbp-usd-analysis-tests-fibo-61-80/ https://www.actionforex.com/contributors/technical-analysis/309749-gbp-usd-analysis-tests-fibo-61-80/#respond Thu, 09 Jul 2020 11:09:32 +0000 https://www.actionforex.com/?p=309749 Yesterday, the GBP/USD exchange rate raised to the 1.2620 level. During Thursday morning, the rate was testing the resistance level—the Fibo 61.80% at 1.2646. If the given resistance holds, it is likely that a reversal south could occur. Note that the currency pair could gain support from the weekly R1 at 1.2593. If the predetermined […]

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