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, 25 Apr 2019 05:07:35 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.1 Daily Markets Broadcast https://www.actionforex.com/contributors/technical-analysis/192694-daily-markets-broadcast-82/ https://www.actionforex.com/contributors/technical-analysis/192694-daily-markets-broadcast-82/#respond Thu, 25 Apr 2019 04:00:59 +0000 https://www.actionforex.com/?p=192694 Wall Street retreats from highs Upward momentum stalled on Wall Street yesterday, with only the NAS100 index extending gains, as earnings reports failed to continue the strong trend. Holidays in Australia and New Zealand may impact liquidity during the Asian session. US30USD Daily Chart The US30 index touched the highest level since October 5 yesterday […]

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Market Morning Briefing: The Euro-Yen Has Fallen To 125 https://www.actionforex.com/contributors/technical-analysis/192692-market-morning-briefing-the-euro-yen-has-fallen-to-125/ https://www.actionforex.com/contributors/technical-analysis/192692-market-morning-briefing-the-euro-yen-has-fallen-to-125/#respond Thu, 25 Apr 2019 03:55:34 +0000 https://www.actionforex.com/?p=192692 STOCKS Equities broadly remain bullish. Asians are in a consolidation phase within their overall uptrend. DAX looks stronger than others as it has broken above a crucial resistance. Dow (26597.05, -59.34, -0.22%) has come-off slightly yesterday. But the outlook remains bullish. Key supports are at 26560 and 26500 which can limit the downside in the […]

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NZD/CHF Could Be The Next Shoe To Drop Behind NZD/JPY https://www.actionforex.com/contributors/technical-analysis/192687-nzd-chf-could-be-the-next-shoe-to-drop-behind-nzd-jpy/ https://www.actionforex.com/contributors/technical-analysis/192687-nzd-chf-could-be-the-next-shoe-to-drop-behind-nzd-jpy/#respond Thu, 25 Apr 2019 03:14:58 +0000 https://www.actionforex.com/?p=192687 Whilst NZD/JPY appears to be leading the way lower, NZD/CHF looks to be carving out a similar path. Firstly, it’s interesting to note May tends to be a strong month for CHF and JPY crosses and weak for NZD. In both cases, NZD has closed lower against CHF and JPY over 53% of the time. […]

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EUR/GBP Remains Supported On Dips Above 0.8600 https://www.actionforex.com/contributors/technical-analysis/192684-eur-gbp-remains-supported-on-dips-above-0-8600/ https://www.actionforex.com/contributors/technical-analysis/192684-eur-gbp-remains-supported-on-dips-above-0-8600/#respond Thu, 25 Apr 2019 02:49:04 +0000 https://www.actionforex.com/?p=192684 Key Highlights The Euro struggled to break the 0.8680 resistance against the British Pound. EUR/GBP recently traded below a bullish trend line at 0.8660 on the 4-hours chart. The German IFO Business Climate Index declined to 99.2 in April 2019 from 99.6. The US Durable Goods Orders in March 2019 could increase 0.8%, whereas the […]

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EURUSD Breaks Below 1.1183/75 Support Zone https://www.actionforex.com/contributors/technical-analysis/192681-eurusd-breaks-below-1-1183-75-support-zone/ https://www.actionforex.com/contributors/technical-analysis/192681-eurusd-breaks-below-1-1183-75-support-zone/#respond Thu, 25 Apr 2019 02:41:39 +0000 https://www.actionforex.com/?p=192681 EURUSD breaks below 1.1183/75 support zone leaving risk of more decline on the cards. Support comes in at the 1.1100 where a violation will turn risk to the 1.1050 level. A break below here will target the 1.1000 level. Further down, support sits at the 1.0950. Its daily RSI is bearish and pointing lower suggesting […]

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Loonie Falls Further after BoC Lowered Tone/Forecasts https://www.actionforex.com/contributors/technical-analysis/192629-loonie-falls-further-after-boc-lowered-tone-forecasts/ https://www.actionforex.com/contributors/technical-analysis/192629-loonie-falls-further-after-boc-lowered-tone-forecasts/#respond Wed, 24 Apr 2019 15:18:59 +0000 https://www.actionforex.com/?p=192629 The pair surged above 1.35 barrier, hitting levels last traded in early January, after Bank of Canada kept interest rates unchanged at 1.75% but changed rhetoric about need for future rate hikes and lowered its growth forecast for 2019. Fresh bullish acceleration extends rally of the previous day and broke above key barriers at 1.3450/67 […]

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Elliott Wave Update: EURAUD Aiming Towards 1.61 – 1.62 https://www.actionforex.com/contributors/technical-analysis/192616-elliott-wave-update-euraud-aiming-towards-1-61-1-62/ https://www.actionforex.com/contributors/technical-analysis/192616-elliott-wave-update-euraud-aiming-towards-1-61-1-62/#respond Wed, 24 Apr 2019 15:03:15 +0000 https://www.actionforex.com/?p=192616 AUD may stay weak, if we consider a bullish continuation on EURAUD for wave C within a big expanded flat correction. That said, seems like EURAUD is trading in an impulsive five-wave rise back to a previous wave A swing high to complete a big expanded flat correction, so more upside in view towards 1.61 […]

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USDTRY Challenges 6-Month High, Trades Well Above SMAs https://www.actionforex.com/contributors/technical-analysis/192565-usdtry-challenges-6-month-high-trades-well-above-smas/ https://www.actionforex.com/contributors/technical-analysis/192565-usdtry-challenges-6-month-high-trades-well-above-smas/#respond Wed, 24 Apr 2019 11:53:28 +0000 https://www.actionforex.com/?p=192565 USDTRY has advanced above the 20- and 40-day simple moving averages (SMAs) and the 23.6% Fibonacci retracement level of the sell-off from 7.1135 to 5.1330, hitting a new six-month high of 5.8753. Looking at the technical indicators, the stochastic is switching to the upside, challenging the overbought territory, while the RSI is approaching the 70 […]

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WTI Outlook: Takes A Breather After Hitting Fresh 2019 High https://www.actionforex.com/contributors/technical-analysis/192553-wti-outlook-takes-a-breather-after-hitting-fresh-2019-high/ https://www.actionforex.com/contributors/technical-analysis/192553-wti-outlook-takes-a-breather-after-hitting-fresh-2019-high/#respond Wed, 24 Apr 2019 11:02:07 +0000 https://www.actionforex.com/?p=192553 WTI oil price consolidates under new 2019 high at $66.58 (posted on Tuesday) as bulls started to reduce pace on reports that oil markets remain adequately supplied, despite sanctions on Iran and OPEC+ output reduction. Surprise build of US crude stocks (API report on Tuesday showed rise of 6.9 mln bls vs 3 mln bls […]

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EURUSD Still Under Pressure https://www.actionforex.com/contributors/technical-analysis/192543-eurusd-still-under-pressure-2/ https://www.actionforex.com/contributors/technical-analysis/192543-eurusd-still-under-pressure-2/#respond Wed, 24 Apr 2019 10:28:26 +0000 https://www.actionforex.com/?p=192543 The euro currency remains under pressure against the US dollar following the release of more weaker than expected economic data from the German economy during the European session. Technical indicators on the four-hour time frame are still trending lower and point to further short-term losses for the EURUSD pair. A bearish head and shoulders pattern […]

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USDJPY Awaiting Rate Decision https://www.actionforex.com/contributors/technical-analysis/192540-usdjpy-awaiting-rate-decision/ https://www.actionforex.com/contributors/technical-analysis/192540-usdjpy-awaiting-rate-decision/#respond Wed, 24 Apr 2019 10:27:40 +0000 https://www.actionforex.com/?p=192540 The US dollar continues to trade in a narrow price range against the Japanese yen currency as traders remain cautious ahead of the Bank of Japan interest rate decision. If buyers can finally move price above the 112.00 resistance level, the bullish pattern on the four-hour is showing that a strong technical breakout could occur. […]

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The Analytical Overview Of The Main Currency Pairs https://www.actionforex.com/contributors/technical-analysis/192534-the-analytical-overview-of-the-main-currency-pairs-178/ https://www.actionforex.com/contributors/technical-analysis/192534-the-analytical-overview-of-the-main-currency-pairs-178/#respond Wed, 24 Apr 2019 10:25:27 +0000 https://www.actionforex.com/?p=192534 The EUR/USD currency pair Technical indicators of the currency pair: Prev Open: 1.12567 Open: 1.12260 % chg. over the last day: -0.31 Day’s range: 1.12010 – 1.12260 52 wk range: 1.1214 – 1.2557 Yesterday USD strengthened against the competition. The EUR/USD quotes lowered by 50 points and reached 1.12000. 1.12300 acts as a mirror resistance. […]

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GBP/USD Outlook: Bears Consolidate Above New 2-Mth Low After Eventual Break Below Key 200SMA Support https://www.actionforex.com/contributors/technical-analysis/192529-gbp-usd-outlook-bears-consolidate-above-new-2-mth-low-after-eventual-break-below-key-200sma-support/ https://www.actionforex.com/contributors/technical-analysis/192529-gbp-usd-outlook-bears-consolidate-above-new-2-mth-low-after-eventual-break-below-key-200sma-support/#respond Wed, 24 Apr 2019 10:04:17 +0000 https://www.actionforex.com/?p=192529 Cable hit new two-month low at 1.2914 on Wednesday, in extension of previous day’s strong fall, mainly driven by rallying dollar and soured sentiment on no substantial changes in stalled Brexit talks. Tuesday’s break and close below key supports provided by converging 200 / 100SMA’s at 1.2965/57 respectively (200SMA kept the downside attempts limited since […]

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EUR/JPY Likely To Make Brief Pullback https://www.actionforex.com/contributors/technical-analysis/192526-eur-jpy-likely-to-make-brief-pullback/ https://www.actionforex.com/contributors/technical-analysis/192526-eur-jpy-likely-to-make-brief-pullback/#respond Wed, 24 Apr 2019 09:57:24 +0000 https://www.actionforex.com/?p=192526 The single European currency depreciated about 73 base points against the Japanese Yen on Tuesday. A breakout occurred through the lower boundary of an ascending channel pattern during yesterday’s trading session. A new junior descending channel was revealed during Wednesday’s session. Most likely, the currency exchange rate will maintain the newly formed junior descending channel […]

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AUD/USD Might Make Retracement North https://www.actionforex.com/contributors/technical-analysis/192523-aud-usd-might-make-retracement-north/ https://www.actionforex.com/contributors/technical-analysis/192523-aud-usd-might-make-retracement-north/#respond Wed, 24 Apr 2019 09:56:33 +0000 https://www.actionforex.com/?p=192523 The Australian Dollar has depreciated about 110 base points against the US Dollar since yesterday’s trading session. The currency pair reached a six-week low level during Tuesday’s session. Everything being equal, it is likely that the AUD/USD exchange rate regain some of its lost points today. Bulls could push the price towards a resistance cluster […]

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USD/CAD Bulls Market https://www.actionforex.com/contributors/technical-analysis/192520-usd-cad-bulls-market/ https://www.actionforex.com/contributors/technical-analysis/192520-usd-cad-bulls-market/#respond Wed, 24 Apr 2019 09:55:46 +0000 https://www.actionforex.com/?p=192520 During the last 24 hours, the US Dollar has gained about 116 base points against the Canadian Dollar. The currency pair reached near a six-week high during Wednesday’s trading session. By and large, it is likely that the USD/CAD currency pair will continue its upside movement within this session. The potential upside target will be […]

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NZD/USD Decline Likely To Continue https://www.actionforex.com/contributors/technical-analysis/192517-nzd-usd-decline-likely-to-continue-4/ https://www.actionforex.com/contributors/technical-analysis/192517-nzd-usd-decline-likely-to-continue-4/#respond Wed, 24 Apr 2019 09:55:02 +0000 https://www.actionforex.com/?p=192517 The New Zealand Dollar depreciated about 58 base points against the US Dollar on Tuesday. The decline was stopped by a support cluster formed by the combination of the weekly and the monthly PPs at 0.6644. However, today’s session began with the bearish momentum and by the middle of the European trading session, the exchange […]

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EURJPY Turns Lower After Creating Double Top Formation At 126.80 https://www.actionforex.com/contributors/technical-analysis/192512-eurjpy-turns-lower-after-creating-double-top-formation-at-126-80/ https://www.actionforex.com/contributors/technical-analysis/192512-eurjpy-turns-lower-after-creating-double-top-formation-at-126-80/#respond Wed, 24 Apr 2019 09:42:36 +0000 https://www.actionforex.com/?p=192512 EURJPY is trading lower after it faced a double top formation on the 126.80 resistance level on April 15 and April 17. The price is challenging today the 50.0% Fibonacci retracement level of the upleg from 123.65 to 126.80 around 125.20, posting a new two-week low. The successful fall below the 20- and 40-simple moving […]

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Forex Technical Analysis: EUR/USD, USD/JPY, GBP/USD https://www.actionforex.com/contributors/technical-analysis/192507-forex-technical-analysis-eur-usd-usd-jpy-gbp-usd-485/ https://www.actionforex.com/contributors/technical-analysis/192507-forex-technical-analysis-eur-usd-usd-jpy-gbp-usd-485/#respond Wed, 24 Apr 2019 08:57:26 +0000 https://www.actionforex.com/?p=192507 EUR/USD Current level – 1.1211 Yesterday’s peak at 1.1260 has finalized the consolidation pattern pattern and the bias is bearish again, for a break through 1.1175 support, en route to 1.1010 target area. Resistance Support intraday intraweek intraday intraweek 1.1215 1.1330 1.1175 1.1175 1.1260 1.1450 1.1010 1.0860 USD/JPY Current level – 111.79 Trading remains calm […]

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EURGBP Could Keep Upside In Short Term, Bearish In Medium Term https://www.actionforex.com/contributors/technical-analysis/192504-eurgbp-could-keep-upside-in-short-term-bearish-in-medium-term/ https://www.actionforex.com/contributors/technical-analysis/192504-eurgbp-could-keep-upside-in-short-term-bearish-in-medium-term/#respond Wed, 24 Apr 2019 08:54:33 +0000 https://www.actionforex.com/?p=192504 EURGBP has been steadily rising this month, piercing its short-term simple moving averages (SMA) and the Ichimoku cloud. The bias is still positive as the red Tenkan-sen is trending northward and above the blue Kijun-sen, while the MACD is increasing strength above its red signal line. The RSI is also fluctuating in bullish zone (above […]

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