USDJPY fell further on Wednesday as dovish remarks from Fed Powell added to expectations for Fed rate cuts in October and December and kept the dollar at the back foot. Fresh bears hit one week low but faced strong headwinds at initial support at 150.90 (rising 10DMA / former top of Aug 1), guarding more […]
The post USD/JPY Eases Further on Rate Cut Expectations But Key Supports Still Hold appeared first on Action Forex.
This article was written by Adam Button at investinglive.com.
Tech sector leads the charge: Google and Apple outshine in a mixed market
📊 Sector Overview
🌐 Market Mood and Trends
The overall market sentiment today is cautiously optimistic, highlighted by upbeat performances in the tech sector. Investors appear to be focusing on tech resilience as a hedge against market volatility. Rumblings of potential policy shifts and economic indicators are keeping some investors wary, reflected in mixed performances across other sectors.
📈 Strategic Recommendations
Given today’s data, investors are advised to **focus on technology** and **semiconductors**, as these sectors reveal strong growth potential and investor interest. Hedging with financials could also serve well given their robust performance, aligning with favorable economic indicators. Conversely, caution is suggested in healthcare investments due to recent downturns.
For those looking to diversify, it would be prudent to gradually increase stakes in tech heavyweights, as they continue to lead market recovery. Always stay updated with real-time market data and analyses to navigate through potential volatility, and visit InvestingLive.com for continuous insights and updates. 💡
This article was written by Itai Levitan at investinglive.com.
The USDCAD started the week with a strong technical break to the upside, moving above a key swing area and the 38.2% retracement between 1.40106 and 1.40212. That area had been a clear dividing line on the charts, representing the first major retracement level of the recent move lower. The break drew in momentum buyers and carried the pair to a high of 1.4074 before stalling and rotating modestly back lower.
The good news for the buyers is that the initial breakout zone — the swing area and 38.2% retracement — has held as support on the pullback. This area now defines the bullish bias for the pair. As long as price action remains above 1.4010–1.4021, the technical picture continues to favor buyers, with the bias tilted toward a retest of the 1.4074 high. A move above that level would open the door toward the 50% retracement target near 1.4169, with little in the way of major resistance in between.
Conversely, a break back below the 1.4010 area would be a disappointment for traders who bought the breakout, suggesting a potential failed break. In that case, the downside focus would shift toward 1.3986, followed by the rising 100-bar MA on the 4-hour chart, and then the 200-day MA around 1.3948–1.3950 — both critical zones for restoring downside control.
For now, buyers remain in play, defending the key support zone and keeping the bullish bias alive. The question going forward is whether they can reignite the upside momentum and push through the 1.4074 barrier, or whether the consolidation turns into a deeper corrective phase.
This article was written by Greg Michalowski at investinglive.com.
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