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 Wed, 19 Jun 2019 15:51:08 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.2 GBP/USD: Sterling Extends Recovery ahead of Fed https://www.actionforex.com/contributors/technical-analysis/209070-gbp-usd-sterling-extends-recovery-ahead-of-fed/ https://www.actionforex.com/contributors/technical-analysis/209070-gbp-usd-sterling-extends-recovery-ahead-of-fed/#respond Wed, 19 Jun 2019 15:51:08 +0000 https://www.actionforex.com/?p=209070 Cable accelerated higher in US trading on Wednesday, boosted by profit taking from last week’s fall and solid UK inflation data. The move can be also seen as positioning ahead of key event today, Fed rate decision, as wide expectations for keeping rates unchanged, may further inflate pound. Rising bullish momentum supports the advance, along […]

The post GBP/USD: Sterling Extends Recovery ahead of Fed appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/209070-gbp-usd-sterling-extends-recovery-ahead-of-fed/feed/ 0
Elliott Wave Analysis: AUDUSD Dropping Temporarily; 0.690 in View! https://www.actionforex.com/contributors/technical-analysis/209066-elliott-wave-analysis-audusd-dropping-temporarily-0-690-in-view/ https://www.actionforex.com/contributors/technical-analysis/209066-elliott-wave-analysis-audusd-dropping-temporarily-0-690-in-view/#respond Wed, 19 Jun 2019 15:48:47 +0000 https://www.actionforex.com/?p=209066 Aussie is dropping as expected from the 0.688 level where a temporary top for wave a)/i) of a three-wave move had been located. Current three-wave drop can now be labelled as wave b)/ii), with possible support, and turning point zone around the Fibonacci ratio of 50.0/61.8. A rally above the current high would suggest more […]

The post Elliott Wave Analysis: AUDUSD Dropping Temporarily; 0.690 in View! appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/209066-elliott-wave-analysis-audusd-dropping-temporarily-0-690-in-view/feed/ 0
GBP/JPY Triggers Corrective Recovery Nearer Term https://www.actionforex.com/contributors/technical-analysis/209038-gbp-jpy-triggers-corrective-recovery-nearer-term/ https://www.actionforex.com/contributors/technical-analysis/209038-gbp-jpy-triggers-corrective-recovery-nearer-term/#respond Wed, 19 Jun 2019 14:07:58 +0000 https://www.actionforex.com/?p=209038 GBPJPY triggers corrective recovery nearer term as we expect more gain in the days ahead. On the downside, support comes in at the 136.00 level where a violation will aim at the 135.50 level. A break below here will target the 135.00 level followed by the 134.50 level. Conversely, resistance is seen at the 137.00 […]

The post GBP/JPY Triggers Corrective Recovery Nearer Term appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/209038-gbp-jpy-triggers-corrective-recovery-nearer-term/feed/ 0
USD/CAD Outlook: Loonie Rose on Upbeat Canada’s CPI Data https://www.actionforex.com/contributors/technical-analysis/209035-usd-cad-outlook-loonie-rose-on-upbeat-canadas-cpi-data/ https://www.actionforex.com/contributors/technical-analysis/209035-usd-cad-outlook-loonie-rose-on-upbeat-canadas-cpi-data/#respond Wed, 19 Jun 2019 14:05:13 +0000 https://www.actionforex.com/?p=209035 The pair dipped on Wednesday, extending bearish acceleration from the previous day, after bulls were trapped above daily cloud top. Upbeat Canada’s inflation data (May CPI y/y 2.4% vs 2.1% f/c; 2.0% prev) showed the highest levels in seven months that is signal for the central bank to hold off on cutting interest rates. Fresh […]

The post USD/CAD Outlook: Loonie Rose on Upbeat Canada’s CPI Data appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/209035-usd-cad-outlook-loonie-rose-on-upbeat-canadas-cpi-data/feed/ 0
EUR/USD Pressured By 55– And 100-Hour SMAs https://www.actionforex.com/contributors/technical-analysis/208978-eur-usd-pressured-by-55-and-100-hour-smas-2/ https://www.actionforex.com/contributors/technical-analysis/208978-eur-usd-pressured-by-55-and-100-hour-smas-2/#respond Wed, 19 Jun 2019 10:42:23 +0000 https://www.actionforex.com/?p=208978 On Tuesday, the EUR/USD currency pair tested the support level formed by the monthly PP at 1.1181. During today’s morning, the pair was testing the Fibonacci 38.20% retracement at 1.1200. Note, that the exchange rate is pressured by the 55– and 100-hour moving averages, currently located at 1.1211 and 1.1233 respectively. Thus, it is unlikely […]

The post EUR/USD Pressured By 55– And 100-Hour SMAs appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208978-eur-usd-pressured-by-55-and-100-hour-smas-2/feed/ 0
GBP/USD Squeezed By 55– And 100-Hour SMAs https://www.actionforex.com/contributors/technical-analysis/208975-gbp-usd-squeezed-by-55-and-100-hour-smas/ https://www.actionforex.com/contributors/technical-analysis/208975-gbp-usd-squeezed-by-55-and-100-hour-smas/#respond Wed, 19 Jun 2019 10:41:30 +0000 https://www.actionforex.com/?p=208975 Yesterday, the GBP/USD exchange rate reversed north from the lower boundary of the medium-term descending channel at 1.2528. From a theoretical point of view, it is expected, that some upside potential could prevail in the market, as the rate targets the upper channel line. However, note, that the currency pair has to surpass the 100-hour […]

The post GBP/USD Squeezed By 55– And 100-Hour SMAs appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208975-gbp-usd-squeezed-by-55-and-100-hour-smas/feed/ 0
USD/JPY Tests Resistance Cluster https://www.actionforex.com/contributors/technical-analysis/208972-usd-jpy-tests-resistance-cluster/ https://www.actionforex.com/contributors/technical-analysis/208972-usd-jpy-tests-resistance-cluster/#respond Wed, 19 Jun 2019 10:40:45 +0000 https://www.actionforex.com/?p=208972 Yesterday, the USD/JPY currency pair re-tested the lower boundary of the medium-term ascending channel at 108.20. During today’s morning, the pair was testing the resistance cluster formed by the 55-, 100– and 200-hour SMAs, as well the weekly PP and the Fibo 38.20% in the 108.44/108.51 range. If the given resistance does not hold, the […]

The post USD/JPY Tests Resistance Cluster appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208972-usd-jpy-tests-resistance-cluster/feed/ 0
XAU/USD Could Add To Gains https://www.actionforex.com/contributors/technical-analysis/208969-xau-usd-could-add-to-gains/ https://www.actionforex.com/contributors/technical-analysis/208969-xau-usd-could-add-to-gains/#respond Wed, 19 Jun 2019 10:39:48 +0000 https://www.actionforex.com/?p=208969 During the previous trading session, the XAU/USD exchange rate tried to surpass the psychological level at 1,355.00. Given, that gold is supported by the 55– and 100-hour SMAs, currently located at 1,342.96, it is likely, that bulls could prevail in the market. A possible upside target is the range between the 1,350.00 and 1,355.00 levels. […]

The post XAU/USD Could Add To Gains appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208969-xau-usd-could-add-to-gains/feed/ 0
WTI Oil Outlook: Bulls Consolidate Ahead Of Key Barriers After 4% Advance On Tuesday https://www.actionforex.com/contributors/technical-analysis/208964-wti-oil-outlook-bulls-consolidate-ahead-of-key-barriers-after-4-advance-on-tuesday/ https://www.actionforex.com/contributors/technical-analysis/208964-wti-oil-outlook-bulls-consolidate-ahead-of-key-barriers-after-4-advance-on-tuesday/#respond Wed, 19 Jun 2019 10:30:09 +0000 https://www.actionforex.com/?p=208964 WTI oil maintains positive tone on Wednesday, following previous day’s 4% rally sparked by fresh hopes of US/China trade deal. Positive signal was also boosted by draw in US crude inventories (API report on Tuesday showed draw of 0.8 mln bls vs previous week’s build of 4.8 mln bls). Tuesday’s strong advance generated additional bullish […]

The post WTI Oil Outlook: Bulls Consolidate Ahead Of Key Barriers After 4% Advance On Tuesday appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208964-wti-oil-outlook-bulls-consolidate-ahead-of-key-barriers-after-4-advance-on-tuesday/feed/ 0
EUR/USD Outlook: Narrow Consolidation Below Daily Cloud Awaits Fed’s Decision https://www.actionforex.com/contributors/technical-analysis/208959-eur-usd-outlook-narrow-consolidation-below-daily-cloud-awaits-feds-decision/ https://www.actionforex.com/contributors/technical-analysis/208959-eur-usd-outlook-narrow-consolidation-below-daily-cloud-awaits-feds-decision/#respond Wed, 19 Jun 2019 10:13:10 +0000 https://www.actionforex.com/?p=208959 The Euro is holding within consolidation range just above new two-week low at 1.1181, posted after dovish comments from ECB President Draghi and downbeat German ZEW data. Tuesday’s close below the base of thick daily cloud was negative signal, however, the pair did not extend weakness below post-data low, as traders await fresh signals from […]

The post EUR/USD Outlook: Narrow Consolidation Below Daily Cloud Awaits Fed’s Decision appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208959-eur-usd-outlook-narrow-consolidation-below-daily-cloud-awaits-feds-decision/feed/ 0
EURUSD Draghi Speech Up Next https://www.actionforex.com/contributors/technical-analysis/208954-eurusd-draghi-speech-up-next/ https://www.actionforex.com/contributors/technical-analysis/208954-eurusd-draghi-speech-up-next/#respond Wed, 19 Jun 2019 10:08:12 +0000 https://www.actionforex.com/?p=208954 The euro has remained weak against the US dollar during the European trading session as market participants await another key speech from ECB President Mario Draghi later this afternoon. EURUSD bulls need to move price above the 1.1245 level, while sellers need to break the 1.1170 support level. Major weekly technical support is found at […]

The post EURUSD Draghi Speech Up Next appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208954-eurusd-draghi-speech-up-next/feed/ 0
USDJPY FOMC Now Key https://www.actionforex.com/contributors/technical-analysis/208951-usdjpy-fomc-now-key/ https://www.actionforex.com/contributors/technical-analysis/208951-usdjpy-fomc-now-key/#respond Wed, 19 Jun 2019 10:07:22 +0000 https://www.actionforex.com/?p=208951 The US dollar is trapped in a limited trading range against the Japanese yen currecy as traders remain cautious ahea dof today’s FOMC rate decision. Buyers will be looking to target the 109.00 level, while sellers will be looking a for a clean break of the 107.70 support level. The USDJPY pair is likely to […]

The post USDJPY FOMC Now Key appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208951-usdjpy-fomc-now-key/feed/ 0
EUR/JPY Moving Towards 50-Hour SMA https://www.actionforex.com/contributors/technical-analysis/208930-eur-jpy-moving-towards-50-hour-sma/ https://www.actionforex.com/contributors/technical-analysis/208930-eur-jpy-moving-towards-50-hour-sma/#respond Wed, 19 Jun 2019 09:31:43 +0000 https://www.actionforex.com/?p=208930 The common European currency versus the Japanese Yen bounced off the lower boundary of a descending channel pattern at 121.09 on Tuesday. As a result, the currency pair gained about 0.46% in value. As for the near future, it is likely that the EUR/JPY exchange rate could aim for a resistance level formed by the […]

The post EUR/JPY Moving Towards 50-Hour SMA appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208930-eur-jpy-moving-towards-50-hour-sma/feed/ 0
AUD/USD Breaches 100-Hour SMA https://www.actionforex.com/contributors/technical-analysis/208924-aud-usd-breaches-100-hour-sma/ https://www.actionforex.com/contributors/technical-analysis/208924-aud-usd-breaches-100-hour-sma/#respond Wed, 19 Jun 2019 09:29:42 +0000 https://www.actionforex.com/?p=208924 The Australian Dollar appreciated about 50 base points against the US Dollar on Tuesday. The currency pair tested the upper boundary of a descending channel pattern at 0.6877 during the morning hours of Wednesday’s trading session. Currently, the 100-hour simple moving average provides resistance for the exchange rate at 0.6879. If the resistance level as […]

The post AUD/USD Breaches 100-Hour SMA appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208924-aud-usd-breaches-100-hour-sma/feed/ 0
USD/CAD Remains Near Bottom Border Of Channel https://www.actionforex.com/contributors/technical-analysis/208920-usd-cad-remains-near-bottom-border-of-channel/ https://www.actionforex.com/contributors/technical-analysis/208920-usd-cad-remains-near-bottom-border-of-channel/#respond Wed, 19 Jun 2019 09:28:34 +0000 https://www.actionforex.com/?p=208920 The US Dollar depreciated about 61 base points against the Canadian Dollar on Tuesday. The currency pair tested the lower boundary of an ascending channel pattern at 1.3360 during the morning hours of Wednesday’s trading session. If the support level formed by the bottom border of the channel pattern holds, the US Dollar might continue […]

The post USD/CAD Remains Near Bottom Border Of Channel appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208920-usd-cad-remains-near-bottom-border-of-channel/feed/ 0
NZD/USD Breakout Might Occur https://www.actionforex.com/contributors/technical-analysis/208917-nzd-usd-breakout-might-occur/ https://www.actionforex.com/contributors/technical-analysis/208917-nzd-usd-breakout-might-occur/#respond Wed, 19 Jun 2019 09:23:46 +0000 https://www.actionforex.com/?p=208917 The New Zealand Dollar appreciated about 47 base points against the US Dollar on Tuesday. The surge was stopped by a resistance level formed by the 100-hour simple moving average at 0.6525. Everything being equal, it is likely that the NZD/USD currency pair could make a brief retracement towards a support level formed by the […]

The post NZD/USD Breakout Might Occur appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208917-nzd-usd-breakout-might-occur/feed/ 0
The Analytical Overview Of The Main Currency Pairs https://www.actionforex.com/contributors/technical-analysis/208905-the-analytical-overview-of-the-main-currency-pairs-210/ https://www.actionforex.com/contributors/technical-analysis/208905-the-analytical-overview-of-the-main-currency-pairs-210/#respond Wed, 19 Jun 2019 08:46:44 +0000 https://www.actionforex.com/?p=208905 The EUR/USD currency pair Technical indicators of the currency pair: Prev Open: 1.12179 Open: 1.11924 % chg. over the last day: -0.17 Day’s range: 1.11872 – 1.12024 52 wk range: 1.1111 – 1.2009 EUR/USD keeps showing a negative trend. Yesterday the trading instrument updated the local minimums. In May, the inflation in the EU slowed […]

The post The Analytical Overview Of The Main Currency Pairs appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208905-the-analytical-overview-of-the-main-currency-pairs-210/feed/ 0
GBP/USD Outlook: UK Inflation Below 2% Could Further Depress Pound https://www.actionforex.com/contributors/technical-analysis/208892-gbp-usd-outlook-uk-inflation-below-2-could-further-depress-pound/ https://www.actionforex.com/contributors/technical-analysis/208892-gbp-usd-outlook-uk-inflation-below-2-could-further-depress-pound/#respond Wed, 19 Jun 2019 08:18:07 +0000 https://www.actionforex.com/?p=208892 Cable is trading within narrow range in early European session and awaiting release of UK inflation data which are expected to provide fresh signal. The pair was so far unable to benefit from Tuesday’s bullish close (the first after five straight day’s in red) following bounce from new low at 1.2505 (the lowest since 3 […]

The post GBP/USD Outlook: UK Inflation Below 2% Could Further Depress Pound appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208892-gbp-usd-outlook-uk-inflation-below-2-could-further-depress-pound/feed/ 0
EUR/USD Range Bound Market But Still Bearish https://www.actionforex.com/contributors/technical-analysis/208884-eur-usd-range-bound-market-but-still-bearish/ https://www.actionforex.com/contributors/technical-analysis/208884-eur-usd-range-bound-market-but-still-bearish/#respond Wed, 19 Jun 2019 08:13:48 +0000 https://www.actionforex.com/?p=208884 The EUR/USD is waiting for the FOMC decision today. The FOMC statement will bring additional volatility in the pair. The FOMC statement is among the primary methods the Fed uses to communicate with investors regarding monetary policy. Future monetary policy is often read between the lines and it creates additional volatility. 1.1220-1.1230 is the zone […]

The post EUR/USD Range Bound Market But Still Bearish appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208884-eur-usd-range-bound-market-but-still-bearish/feed/ 0
Gold Jumps On Draghi Comments, FOMC In Focus https://www.actionforex.com/contributors/technical-analysis/208881-gold-jumps-on-draghi-comments-fomc-in-focus/ https://www.actionforex.com/contributors/technical-analysis/208881-gold-jumps-on-draghi-comments-fomc-in-focus/#respond Wed, 19 Jun 2019 08:11:50 +0000 https://www.actionforex.com/?p=208881 Gold prices recovered from Monday’s losses as price got a boost after Mario Draghi’s comments. The precious metal also maintained gains ahead of the conclusion of the two-day FOMC meeting today. While no rate cuts are expected, we do expect the Fed to convey to the markets the timing of its potential rate cut. Gold […]

The post Gold Jumps On Draghi Comments, FOMC In Focus appeared first on Action Forex.

]]>
https://www.actionforex.com/contributors/technical-analysis/208881-gold-jumps-on-draghi-comments-fomc-in-focus/feed/ 0