Technical Analysis – 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 Thu, 27 Feb 2020 15:16:44 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 CADJPY Faces Selling Pressure after Touching 1-Year High https://www.actionforex.com/contributors/technical-analysis/275408-cadjpy-faces-selling-pressure-after-touching-1-year-high/ https://www.actionforex.com/contributors/technical-analysis/275408-cadjpy-faces-selling-pressure-after-touching-1-year-high/#respond Thu, 27 Feb 2020 15:16:44 +0000 https://www.actionforex.com/?p=275408 CADJPY has been in the red over the last four days, but it is still trading within an upward sloping channel, which has been holding since September 2019. The latest drop started after the pair found a wall at the one-year high of 84.75. According to the RSI, the market could push for further losses in the short-term as […]

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GOLD Could Soon Surge https://www.actionforex.com/contributors/technical-analysis/275374-gold-could-soon-surge/ https://www.actionforex.com/contributors/technical-analysis/275374-gold-could-soon-surge/#respond Thu, 27 Feb 2020 12:11:23 +0000 https://www.actionforex.com/?p=275374 After touching the 1,625.00 level for a second time on Wednesday, on Thursday, the commodity returned to trade near the 1,650.00 mark. In regards to the near term future, the metal was expected to end trading in this week’s range and surge, as on Thursday, the resistance of the 55-hour simple moving average was broken. […]

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USD/JPY Tests 110.00 Level https://www.actionforex.com/contributors/technical-analysis/275361-usd-jpy-tests-110-00-level/ https://www.actionforex.com/contributors/technical-analysis/275361-usd-jpy-tests-110-00-level/#respond Thu, 27 Feb 2020 11:58:53 +0000 https://www.actionforex.com/?p=275361 On Thursday morning the USD/JPY currency exchange rate was once again testing the support of the 110.00 level. In general, the rate was expected to trade above the support until the resistance of the 55-hour SMA approaches the rate and pushes it through the 110.00 mark. On the other hand, the 55-hour SMA might get […]

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GBP/USD Plummets On Thursday https://www.actionforex.com/contributors/technical-analysis/275358-gbp-usd-plummets-on-thursday/ https://www.actionforex.com/contributors/technical-analysis/275358-gbp-usd-plummets-on-thursday/#respond Thu, 27 Feb 2020 11:53:28 +0000 https://www.actionforex.com/?p=275358 On Thursday, the GBP/USD plummeted, as the UK announced its stance in trade negotiations with the EU. By the middle of the day’s London trading hours, the pair was heading to the support of the weekly S1 simple pivot point at 1.2858. In the case of the rate passing the pivot points support, tit would […]

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EUR/USD Breaks Resistance Levels https://www.actionforex.com/contributors/technical-analysis/275353-eur-usd-breaks-resistance-levels/ https://www.actionforex.com/contributors/technical-analysis/275353-eur-usd-breaks-resistance-levels/#respond Thu, 27 Feb 2020 11:38:35 +0000 https://www.actionforex.com/?p=275353 During the early GMT trading hours of Thursday’s trading, the EUR/USD broke out of the ascending wedge pattern and passed the resistance of the weekly R2 simple pivot point at 1.0916. By the middle of the day, the rate was heading to the weekly R3, which was located at 1.0967. In general, the rate was […]

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BTCUSD Daily Close Vital https://www.actionforex.com/contributors/technical-analysis/275348-btcusd-daily-close-vital/ https://www.actionforex.com/contributors/technical-analysis/275348-btcusd-daily-close-vital/#respond Thu, 27 Feb 2020 11:05:35 +0000 https://www.actionforex.com/?p=275348 Bitcoin remains under downside pressure below the $9,000 level, after the cryptocurrency suffered its worst one-day sell-off 2020 so far. BTCUSD bulls need to close the daily candle back above the pairs 200-day moving average to avoid further technical selling. The $8,000 level still remains a valid bearish target if the decline in the number […]

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EURUSD Targeting 1.0940 https://www.actionforex.com/contributors/technical-analysis/275345-eurusd-targeting-1-0940/ https://www.actionforex.com/contributors/technical-analysis/275345-eurusd-targeting-1-0940/#respond Thu, 27 Feb 2020 11:04:57 +0000 https://www.actionforex.com/?p=275345 The euro currency is moving sharply higher against the US dollar, with the pair now trading back above the 1.0900 resistance level. EURUSD bulls may start to target the 1.0940 level if they can continue to hold price above the 1.0900 support level. Overall, sellers need to be cautious as bullish MACD price divergence extends […]

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NZDUSD Rebounds On 4-Month Low, Bullish Correction In Very Short Term https://www.actionforex.com/contributors/technical-analysis/275342-nzdusd-rebounds-on-4-month-low-bullish-correction-in-very-short-term/ https://www.actionforex.com/contributors/technical-analysis/275342-nzdusd-rebounds-on-4-month-low-bullish-correction-in-very-short-term/#respond Thu, 27 Feb 2020 10:50:50 +0000 https://www.actionforex.com/?p=275342 NZDUSD is in an upside pull back mode following the fall to the four-month low of 0.6280. Over the last two months, the pair has been developing in a descending move, but in the very short-term an upside correction is expected. The RSI is pointing north in the negative area, while the MACD is gaining […]

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US 30 Stock Index Dives Below Ascending Channel https://www.actionforex.com/contributors/technical-analysis/275339-us-30-stock-index-dives-below-ascending-channel/ https://www.actionforex.com/contributors/technical-analysis/275339-us-30-stock-index-dives-below-ascending-channel/#respond Thu, 27 Feb 2020 10:49:40 +0000 https://www.actionforex.com/?p=275339 The US 30 stock index faced strong selling this week that forced the price to abandon the 10-month old channel and drop to a four-month low of 26,483, where the 38.2% Fibonacci of the 21,596-29,582 upleg happens to be. A rebound or some stabilization near recent lows cannot be ruled out as the RSI and […]

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The Analytical Overview Of The Main Currency Pairs https://www.actionforex.com/contributors/technical-analysis/275333-the-analytical-overview-of-the-main-currency-pairs-363/ https://www.actionforex.com/contributors/technical-analysis/275333-the-analytical-overview-of-the-main-currency-pairs-363/#respond Thu, 27 Feb 2020 10:34:42 +0000 https://www.actionforex.com/?p=275333 The EUR/USD currency pair Technical indicators of the currency pair: Prev Open: 1.08804 Open: 1.08823 % chg. over the last day: +0.05 Day’s range: 1.08776 – 1.09179 52 wk range: 1.0879 – 1.1572 The EUR continued its growth against the greenback. The EUR/USD quotes updated the local highs again. At the moment the trading instrument […]

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EUR/JPY Could Edge Up https://www.actionforex.com/contributors/technical-analysis/275323-eur-jpy-could-edge-up-4/ https://www.actionforex.com/contributors/technical-analysis/275323-eur-jpy-could-edge-up-4/#respond Thu, 27 Feb 2020 09:47:34 +0000 https://www.actionforex.com/?p=275323 The 200– hour simple moving average provided support for the common European currency against the Japanese Yen during yesterday’s trading session. The currency pair surged by 58 pips or 0.48% in value on Wednesday. As for the near future, the EUR/JPY exchange rate will most likely continue to edge higher. The potential target for bullish […]

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AUD/USD Breakout Could Occur https://www.actionforex.com/contributors/technical-analysis/275320-aud-usd-breakout-could-occur/ https://www.actionforex.com/contributors/technical-analysis/275320-aud-usd-breakout-could-occur/#respond Thu, 27 Feb 2020 09:46:47 +0000 https://www.actionforex.com/?p=275320 The Australian Dollar declined by 60 basis points or 0.91% in value against the US Dollar. The currency pair breached a support cluster formed by the monthly S1 and the weekly S1 at 0.6571 during yesterday’s trading session. The exchange rate is currently trading near the lower boundary of a descending channel pattern at 06562. […]

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USD/CAD Could Make Slight Downside Retracement https://www.actionforex.com/contributors/technical-analysis/275317-usd-cad-could-make-slight-downside-retracement/ https://www.actionforex.com/contributors/technical-analysis/275317-usd-cad-could-make-slight-downside-retracement/#respond Thu, 27 Feb 2020 09:45:56 +0000 https://www.actionforex.com/?p=275317 The US Dollar surged by 73 pips or 0.57% in value against the Canadian Dollar on Wednesday. The currency pair tested a resistance cluster formed by the monthly R1 and the weekly R3 at 1.3339 during yesterday’s trading session. As for the near future, the USD/CAD exchange rate could make a downside retracement from the […]

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NZD/USD Target At 0.6353 https://www.actionforex.com/contributors/technical-analysis/275314-nzd-usd-target-at-0-6353/ https://www.actionforex.com/contributors/technical-analysis/275314-nzd-usd-target-at-0-6353/#respond Thu, 27 Feb 2020 09:44:45 +0000 https://www.actionforex.com/?p=275314 The New Zealand Dollar depreciated by 34 basis points or 0.54% in value against the US Dollar on Wednesday. The currency pair tested the weekly S1 at 0.6281 during yesterday’s trading session. Thursday’s trading session began with bullish momentum. The exchange rate has breached both the 50– and 100– hour SMAs. The possible target for […]

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EUR/USD Outlook: Fresh Recovery Acceleration Is Pressuring Key Barrier At 1.0954 https://www.actionforex.com/contributors/technical-analysis/275311-eur-usd-outlook-fresh-recovery-acceleration-is-pressuring-key-barrier-at-1-0954/ https://www.actionforex.com/contributors/technical-analysis/275311-eur-usd-outlook-fresh-recovery-acceleration-is-pressuring-key-barrier-at-1-0954/#respond Thu, 27 Feb 2020 09:40:04 +0000 https://www.actionforex.com/?p=275311 The Euro extends recovery on Thursday and pressuring pivotal barriers at 1.0954 (falling 30DMA/Fibo 38.2% of 1.1239/1.0778), after taking out initial barrier at 1.0904 (20DMA). Fresh bullish acceleration emerged after Wednesday’s long-legged Doji showed strong indecision, signaling further advance as traders collected profits from larger downtrend. Momentum on daily chart is in steep ascend and […]

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USD/JPY Bearish ABC Zigzag Pattern Aims At 61.8% Fib https://www.actionforex.com/contributors/technical-analysis/275306-usd-jpy-bearish-abc-zigzag-pattern-aims-at-61-8-fib/ https://www.actionforex.com/contributors/technical-analysis/275306-usd-jpy-bearish-abc-zigzag-pattern-aims-at-61-8-fib/#respond Thu, 27 Feb 2020 09:38:51 +0000 https://www.actionforex.com/?p=275306 Dear traders, the USD/JPY made a bearish bounce at the top of the bullish channel. This could confirm the start of the final wave E of a larger triangle pattern. Weekly chart The USD/JPY could be building a bearish ABC zigzag pattern within wave E (purple) of wave B (red). The ABCDE triangle chart pattern […]

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EURCAD Accelerates To 3-Week High, Bias Cautiously Positive https://www.actionforex.com/contributors/technical-analysis/275303-eurcad-accelerates-to-3-week-high-bias-cautiously-positive/ https://www.actionforex.com/contributors/technical-analysis/275303-eurcad-accelerates-to-3-week-high-bias-cautiously-positive/#respond Thu, 27 Feb 2020 09:07:38 +0000 https://www.actionforex.com/?p=275303 EURCAD is set to close strongly bullish after three consecutive negative weeks, with the pair accelerating from a three-year low of 1.4262 to three-week highs. Looking at the four-hour chart, the RSI’s position provides some cautious signals as the indicator is already above its 70 overbought mark, though it has yet to show signs of […]

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US 500 Index Plunges To 4-Month Low, Biggest Fall Since December 2018 https://www.actionforex.com/contributors/technical-analysis/275300-us-500-index-plunges-to-4-month-low-biggest-fall-since-december-2018/ https://www.actionforex.com/contributors/technical-analysis/275300-us-500-index-plunges-to-4-month-low-biggest-fall-since-december-2018/#respond Thu, 27 Feb 2020 09:06:25 +0000 https://www.actionforex.com/?p=275300 The US 500 index (Cash) has been in free fall mode since February 20 as it hit resistance at the record high of 3,392.21. The price is creating the biggest sell-off run since December 2018 and is approaching the nine-month ascending trend line, posting a fresh four-month low near the 200-day simple moving average (SMA) […]

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DAX30 Bears Fully Controlling the Market https://www.actionforex.com/contributors/technical-analysis/275297-dax30-bears-fully-controlling-the-market/ https://www.actionforex.com/contributors/technical-analysis/275297-dax30-bears-fully-controlling-the-market/#respond Thu, 27 Feb 2020 09:04:54 +0000 https://www.actionforex.com/?p=275297 Dax30 is in a heavy downtrend caused by a negative sentiment due to corona virus. Equities are dropping in sync and DAX is no exception. If the market makes a bounce towards 12820. We might expect another sell. Watch for a bearish candlestick pattern in the zone 12800-20. Rejections off the zone will target 12715 […]

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Crude Oil 46.60 Expected https://www.actionforex.com/contributors/technical-analysis/275294-crude-oil-46-60-expected/ https://www.actionforex.com/contributors/technical-analysis/275294-crude-oil-46-60-expected/#respond Thu, 27 Feb 2020 09:03:21 +0000 https://www.actionforex.com/?p=275294 Pivot (invalidation): 48.80 Our preference Short positions below 48.80 with targets at 47.10 & 46.60 in extension. Alternative scenario Above 48.80 look for further upside with 49.50 & 50.15 as targets. Comment The RSI is bearish and calls for further decline.

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